The latest webinar gave tips on the best benefits to offer to help with employee recruiting and retention
In NFIB’s latest webinar, the guest expert Director of Business Development at BFS Benefits Nelli Klygina joined Senior Executive Counsel for the NFIB Small Business Legal Center Elizabeth Milito to explain the importance of offering competitive employee benefits for recruitment and retention in a tight labor market. The workforce shortage has hit Main Street hard, but this expert guidance can help small businesses stand out in the hiring process and give employees incentive to stay.
“Offering employee benefits drastically improves a company’s image on the market,” Klygina explained. “It is proven to provide employees with a deeper and better satisfaction with their employment and the company. You’re providing your employees options to secure their financial situation through a variety of benefits. You’re providing your employees access to group discounted rates which they would not be able to benefit from outside of your company.”
The decision of which benefits to offer can change based on a business. Klygina discussed three main groups that tend to be offered with examples of common benefits for each group.
- Group health benefits: Major medical, dental, vision
- Supplemental group benefits: Life insurance, disability insurance, 401(k) Retirement Savings Plans
- Employment benefits: Time off, bonuses, flexible schedules
Klygina mainly focused on health insurance since that is a core benefit to offer. She went into detail about different types of health insurance, employer contributions, and healthcare cost trends, and answered questions on ways to find affordable healthcare for businesses with less than ten employees.
“You want your employees to know what you’re offering,” Klygina said. “You want your employees to appreciate the value and the dollars you’re putting into your benefit programs. There are different ways of letting your employees know you care, you are there to educate them, provide them a true valuable benefit, and you support them every inch of the way.”
NFIB’s next webinar will be held on Sept. 7 with special guest Cliff Ennico, Esq. Stay tuned for registration information for How to Get Paid When Debtors Refuse to Cough up the Cash.
