With year end finally in sight, employers and employees alike have open enrollment on the mind. Open enrollment is the yearly opportunity for employees to make changes to their benefits plan that are not allowed at other times during the year. It’s also time for employers to consider the benefits they currently offer their employees and if any changes should be made.
As an employer, why should you bother offering benefits?
In a job market more competitive than ever, offering employee benefits is one way to attract and retain top employees. Glassdoor’s 2015 Employee Confidence Survey found that 80% of employees would prefer additional benefits to a pay raise. And according to an article by the Harvard Business Review, 88% of respondents said they’d place some to heavy consideration on better health, dental, and vision insurance when choosing between a high-paying job and a lower-paying job with better benefits.
In other words, good health, dental, and vision insurance could tip a valuable potential employee toward your company. Offering competitive health, vision, dental, and other benefits can also show your current employees how much you value them, in turn encouraging employee loyalty and allowing you to compete with other, sometimes larger organizations.
However, many employers are deterred despite the benefits because of the complicated nature of benefits administration. Managing open enrollment and renewals can be enough to drive a small business owner to madness.
Fortunately, Zamp HR can take the headache of open enrollment, renewals, and other complexities off your hands, giving you the perks of offering benefits to your employees without the hassle of administration. Our benefits team has decades of combined experience to make sure your open enrollment – and continual benefits administration – is as smooth as possible.
To talk about how Zamp HR can help simplify and streamline your employee benefits administration, contact one of our expert HR representatives at (888) 407-1032 and we’ll help you get on the road to smarter HR.