Top employees are looking for better benefits – they’ll even sacrifice a little salary for better insurance. Find out how PrestigePEO can help you stand out.
Key takeaways:
- 90% of job seekers consider employee benefits when looking for a job.
- Competitive benefits help SMBs attract top talent, retain employees and stay competitive.
- Top benefits employees care about include health and life insurance, retirement planning and paid time off.
- Working with PrestigePEO allows you to afford employee benefits usually reserved for larger companies.
One of an employer’s most important responsibilities is supporting its workforce with health insurance, retirement options, workers’ compensation insurance and other key employee benefits.
Nearly 90% of job seekers consider better health and other insurance benefits when finding the right position. The more comprehensive and affordable your employee benefits portfolio is, the higher the caliber of employee you can recruit.
Competitive employee benefits can feel out of reach for SMBs, especially when competing with Fortune 500 companies with larger budgets. That’s where PrestigePEO makes a difference. By partnering with a professional employer organization (PEO), SMBs can gain access to top-tier benefits at a fraction of the cost while saving time and reducing administrative burdens.
Find out key strategies for SMBs to attract top employees with more competitive employee benefits.
Benefits that employees care about most
According to a Forbes Advisor study, the top benefit employees want from their employers is employer-covered healthcare, followed by life insurance and retirement. Let’s look at what these top employee benefits entail:
Health Insurance
As healthcare costs continue to rise, so does employee demand for better insurance coverage. Robust plans are now required for SMBs to stay competitive and ensure employee satisfaction. This also includes offering dental and vision insurance.
Life and Disability Insurance
Many of your employees may have families and dependents, so offering life insurance helps them have security and peace of mind. Disability insurance also protects them in case of a debilitating accident.
Retirement Plans
Today’s employees are thinking about their financial futures, which means they want a robust retirement plan from their employer. A competitive PEO 401(k) can help you attract long-term talent.
Other offerings such as supplemental insurance, health and wellness programs, and health savings and flexible spending accounts can help you stand out when looking for top talent. Find out how to offer these competitive benefits by partnering with PrestigePEO.
How PrestigePEO helps SMBs offer better employee benefits
Partnering with PrestigePEO allows SMBs to look for top-tier talent and improve employee benefits offerings. Leveraging its collective purchasing power, PrestigePEO helps SMBs access high-quality benefits typically reserved for larger companies. This approach allows PrestigePEO to negotiate better rates with insurance carriers, improving affordability.
Beyond benefits, PrestigePEO can streamline HR, compliance and payroll tasks, allowing you to focus on core business operations. By handling these administrative processes, PrestigePEO supports your workforce with the latest technology and industry best practices.
One business, for example, saved on employee benefits costs when working with PrestigePEO: “We saw a 30% decrease in health insurance rates as the buying power of a PEO is so much stronger than what you can get on the open market as a small business,” said Jamie Castagna, business manager with Morey Creative in Syosset, New York.
Get started with PrestigePEO today
Start working with a PEO today to stay competitive with comprehensive employee benefits and HR support. At PrestigePEO, we make it simple to get started. We will connect with your health insurance broker first, then get you started with us and learn your unique challenges and needs.
With PrestigePEO, you’ll have access to competitive, tailored employee benefits packages to support your workforce with the perks they desire. PEOs make it easier for you to provide and manage these benefits as an SMB.
Investing in your employees through benefits pays off with long-term talent retention and business growth.
Elevate your employee benefits and attract top talent with PrestigePEO. Click here to learn more about our comprehensive offerings and schedule a consultation with our experts.
