What Are the 4 Major Types of Employee Benefits?
In today’s competitive hiring environment, many candidates expect to see at least four types of employee benefits when they’re considering a job offer. Those benefits include:
- Medical insurance
- Life insurance
- Disability insurance
- Retirement plans
By offering these benefits, you can ensure your employees feel taken care of, which in turn motivates them to perform well in their job. Plus, by offering a competitive employee benefits insurance package, you can also reduce turnover.
Don’t Overlook Employee Benefits Liability Coverage
Mistakes are a fact of life, but when it comes to health insurance you don’t want your administrative error to result in an employee not having coverage when they need it. That’s where having employee benefits liability coverage can help.
For example, if your employee elected for a specific health insurance plan, but your HR coordinator accidentally didn’t add them, your employee would be shocked when they try to file a claim and learn they aren’t insured. But through employee benefits liability coverage, the original benefit can be paid to cover the employee’s healthcare costs, despite your administrative error. That way both you and the employee are safeguarded from the costly consequences of an honest mistake.
How Are You Caring for Your Employees?
Maybe you need to update your employee benefits insurance to compete and draw in top talent. Or perhaps your business is starting from scratch and needs some guidance building out an employee benefits program.
Either way, our team has plenty of experience helping clients find the right benefits insurance for their business model. Contact our team to see how we can help you care for and retain your employees.