The rising cost of employee benefits is a concern in today’s business climate. Employers are searching for solutions to help them achieve their business goals, including group benefit cost containment strategies and creative benefit designs.
Along with escalating costs, employers are dealing with challenges that include the constantly changing healthcare industry and consumer demand for information, technology, flexibility, and choice. Our agent at Reese Insurance Group in McHenry, Illinois, can assist you in designing a employee/group benefits plan that will please your employees and help you contain your group benefits costs.
Types of Voluntary Employee Benefits
Voluntary employee benefits can be an excellent way to offer a competitive benefits package to employees while managing costs to the company. Employees today want a benefits package that is tailored to suit their needs, and voluntary benefits programs give them what they want. These benefits are offered by employers and paid mostly or entirely by employees through payroll deferral. Common voluntary benefits include:
- Life insurance
- Accident insurance
- Cancer and critical illness insurance
Voluntary benefits are cost-effective for both employers and employees. The benefits you offer employees are a critical part of retaining the best talent. These programs increase confidence, as employees feel secure about their financial future, as well as more productive.