Depending on what type of company you run and who you are trying to attract and retain as employees, will determine if you, as an #employer, should be offering #GroupBenefits and Group Health Insurance for your people. Employee Benefits are usually the second most costly line item for employers, right underneath wages. Depending on your industry, you may not need to offer Employee Benefits
Employees have to see Employee Benefits as a value, or don’t waste your money
I speak to employers constantly that wrestle with the idea of having to spend tons of money each month on Group Benefits, In some cases, I recommend against it. My first question to them is “why are you looking into Employee Benefits?” Their answers are usually all over the map. If the employer does not see this as a value for their people, our conversation is usually pretty short. Without having the right mindset for an Employee Benefits offering, it usually goes horribly wrong. What I’ve learned is that unless you’re going into this for the right reasons, no one likes the outcome.
Unless both the employER and the EmployEES see value in Group Insurance, we’ve got a problem
Here is a typical scenario: the business owner, begrudgingly puts together an Group Health Insurance plan for the company. The owner does not see value in the offering and selects the absolute cheapest plan available….and then wants to contribute almost nothing towards the employee’s monthly premium. The message that the employee hears: they don’t care about me, and they only want to spend the bare minimum and expect me to foot the rest of the bill. Which translated means: I’m not valued. So the employer spends lots of money every month, for a Employee Benefits plan that the employees don’t like, and also sends a negative message to the employees who are expected to pay for the bulk of the coverage.
Having employees involved in the Employee Benefits process sends a positive message
In every Group Health Plan I’ve helped put together, when an employer has the employees become part of the process, it always turns out more positive. Both the business owner and employees can discuss what’s available, what each can afford, and sends a much more positive message. The outcome is ALWAYS more productive, everyone feels better, and in some cases, they determine, together, that the offering of Group Benefits is not a good fit. That is totally OK.
Steve Brauer is the Principal for Brauer Insurance Services in the Bay Area. He is a recognized expert in the translation of ObamaCare and the #ACA. He and his daughter, own and operate an Independent Employee Benefits agency. www.brauerinsurance.com (877) 421-4325