How Creating More Solid Healthcare Plans Can Reduce Employee Turnover Rates

Full-service benefits specialists

Your job should do more than just pay you. It should support you in all aspects of your life, from helping you bounce back from an illness to encouraging you to reach for your dreams. Stressed employees create a stressed business, ultimately culminating in a vicious cycle that can only end with employee turnover and reduced financial figures. The answer to these difficult problems lay in full-service benefits specialists, professionals who can ensure that both employees and businesses are being properly accommodated in the day-to-day. Do you need a benefits program to supplement your part-time or full-time position? Look below.

Employee Turnover And Its Long-Term Effects

Finding a job is difficult. Holding one down can be even more so. Employee turnover is a symptom not enjoyed by employee or business, causing both parties to actively seek ways to mitigate its stressful impact. Over $11 billion is lost every year to employee turnover and recent studies have shed light on the multiple reasons that undercut the pattern. 44% of Millennials in a recent study said, if they were given the choice, they would leave their current employers within the next few years. Common reasons for employee turnover include unsatisfactory pay, a lack of health benefits and high rates of stress.

The Function Of Mental Health In The Workplace

Mental health contributes to physical health and vice versa. This is a wisdom full-service benefits specialists are acutely aware of and something they try to give employees no matter their industry or hours. Employees who are actively engaged in their job and have a high sense of well-being have been found to be 40% more likely to evaluate their lives highly. Not only that, they are 8% more likely to ‘fully recover’ after an illness or hardship. Likewise, actively disengaged workers are twice as likely as their happier counterparts to be diagnosed with depression, anxiety or a panic disorder.

Retirement, Paid Vacation And Sick Leave

What kind of benefits can you enjoy? This can be determined with the aid of full-service benefits specialists. Medical care plans have been made available to 70% of workers in the private sector. Despite this, only 50% of workers actively participate in such. Paid leave is still the most commonly provided benefit given to employees, that of which includes paid holidays which are made available to nearly 80% of employees. Although there have been dire warnings to the contrary, studies have shown four out of five Canadians are financially on track for a healthy retirement thanks to information provided by the McKinsey consultancy.

Choosing Cost-Effective Benefits Solutions

Full-service benefits specialists know the short-term and long-term impact a group insurance plan has on employees. Without reliable healthcare and regular breaks employees are more stressed, more distracted and more likely to succumb to illness or deteriorating mental health. Companies that offered 11 or more benefits saw over 65% of its employees actively recommending it to employers. Whether you need better dental care or are interested in sick leave to give you some leeway, a good benefits plan will make life smoother than ever.

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