The labor market has become increasingly competitive over the years due to the emergence of trends that impact the way we work. Just as workers compete with others to land lucrative and fulfilling jobs, employers go head to head with others to attract and hire the best talents.

Aside from putting their best foot forward, employers must also craft benefits that can truly captivate the workers of today. Recent studies have shown that competitive compensation is not enough. When asked about the benefits that matter the most to them when accepting a job, 45% of surveyed employees said they consider health benefits.

Your business may not be required by the Affordable Care Act to provide coverage for your employees, but doing so benefits your business in many ways. It increases your employees’ job satisfaction and it sends a positive message that you care about their well-being.

Here are four more reasons for you to offer health insurance to your team:

1. It Helps Make Your Employees Happy and Satisfied

Health insurance is among the most important benefits they receive from their employer. This insight is something you must recognize and act on to attract stellar talent to join your team. Instead of other smaller perks, it’s a smart move to prioritize offering this company benefit and then working your way around adding more benefits as your company grows.

Especially in these sensitive times, health benefits are a top priority for workers. Offering medical insurance, PTOs, pension plans, and other similar benefits will enable you to successfully recruit and retain the best employees.

2. It Can Boost Their Productivity

A productive workforce is a healthy workforce. Your team members cannot perform at their best if they are suffering from any illness. In this aspect, providing healthcare insurance and encouraging preventive care can be particularly helpful.

According to studies, 60% of employers found an increase in productivity levels after offering health insurance. Moreover, the CDC stated that workers who prioritize their regular checkups and preventive care accomplish more at work.

Providing this allows your employees to focus on their tasks at hand and take care of their bodies to produce the best work.

3. It’s Cost-effective For Everyone

Settling health insurance for the whole company may seem an expensive endeavor at first. In reality, you and your employees may be able to save more when you purchase it as a group.

For your part, paying for health benefits instead of higher salaries actually saves you money. This is because you don’t pay taxes for money spent on these.

For your employees, employer-sponsored medical insurance means they won’t need to use post-tax dollars to purchase it on their own. Everyone benefits from this in the end!

4. It’s Easy

Offering health insurance to your employees is not a complicated process. Sure, it may sound intimidating at first, but it will be a breeze as long as you partner with a reliable group health insurance broker. They can guide you in selecting the right plan for your business and your team and set everything up for you.

Conclusion

Your employees place high importance on health benefits, so you should, too. Offering these, especially as we continue to face a global health crisis, can help you attract and build a healthy and productive workforce. Moreover, it helps you establish a culture of trust and make your employees feel positive about their role and your leadership.

Abbot Benefits Group is a trusted group health insurance broker in Houston. We provide small and medium businesses with reliable guidance and exceptional service for group health insurance benefits. Get in touch with us today to learn what we can do for you.