As an employer or owner of a business, you have probably spent a lot of time and effort finding and hiring key employees to help you grow your business. However, as an employer or owner of a business, what benefits are you offering your employees and how are you taking care of them? Are you providing them with long-term financial security, or perhaps the reassurance that they will be able to retire comfortably one day? Have you given your employees risk cover benefits which will assist them and their families in the unfortunate event of death or disability?
By offering your employees attractive benefits you are not only providing them with a reason to stay, but you are also positioning yourself ahead of your competitors. Many companies today make the mistake of thinking that contributing or offering employee benefits is expensive, but a qualified Employee Benefits broker can help you find the right balance between looking after your employees and taking care of your business. Not offering any employee benefits might improve your company’s earnings in the short term, but it may also affect your staff turnover, staff productivity, and overall staff satisfaction.
Is your broker a qualified Employee Benefits Specialist? The Employee Benefits world is a very specialized area within the financial services sector, and it is important to deal with a broker who has the relevant experience, resources, and expertise to ensure your Group Scheme is correctly priced, managed and structured.
Here’s how a qualified Employee Benefits Specialist can help you find that balance:
1. A qualified Employee Benefits Specialist can assess your current needs and provide a solution that is suitable for both the staff and your business. They can negotiate rates and benefits to get the best deal for your company, as well as your employees, ensuring the correct, most cost-efficient scheme structure
2. By appointing a qualified Employee Benefits Specialist to look after your group scheme, you will take the pressure off your own management team, as a broker will proactively and effectively manage all aspects of your company’s scheme. Payroll and HR staff will benefit immensely from the assistance of a qualified Employee Benefits Specialist and their teams.
3. A qualified Employee Benefits Specialist will provide ongoing support to you, as well as your employees. Whether it is through training or regular one-on-one sessions, you’ll always be kept informed. Current legislation is often confusing and always changing, and a good broker will always be well informed about the latest industry related changes.
4. A qualified Employee Benefits Specialist will also analyze and make any necessary adjustments to your scheme on an annual basis, ensuring the correct scheme structure even if your business experiences any changes
5. Lastly, a qualified Employee Benefits Specialist will always offer personalized attention to you and your employees, making them feel comfortable and confident about their financial wellness. By providing annual member presentations, as well as monthly support with any member queries, claims or underwriting requirements, all parties will feel more comfortable with the scheme and this adds to overall satisfaction and understanding, creating trust between these parties.
Companies that do offer benefits are generally able to find and retain talented individuals. Having a qualified Employee Benefits Specialist who can assist you with the right solution for your employees, may just give your company that competitive advantage.
At Cornerstone Employee Benefits we focus on taking care of the people who drive your business. Contact us to find out how we can help you, and your valued employees.