Offering benefits to your employees: higher employee retention.
The best bet for businesses to thrive in today’s economy is to find and retain the best employees. Especially when small businesses are competing with larger corporations and larger budgets for the top talent. Not retaining your employees can be a sign that your business is falling, and with a high dropout rate it may deter others from applying. Learn how important it really is to retain your employees.
Happy employees make for successful businesses.
As more and more employees voluntarily leave your business, employee productivity, morale, and revenue all take hits.
The cost of losing an employee.
Consider the following when you don’t put employee morale in your top 3, or even top 2 on your list.
- The cost of hiring a new employee like advertising, interviewing, screening, and hiring.
- The cost of training the employee.
- When employees see a high turnover disengage and lose productivity.
- New employees are less able to take care of customers, and your customer service may drop.
- Loss of productivity as the new employee may take a week or two to reach the level of the last person.
- When employees leave, others take the time to ask “Why?” They may even find the reason.
Benefits are something that employees are always on the look out for. They may take a lower paying job if you can offer them the benefits that other companies cannot. Like dental, health, life, and health insurance. For more information regarding the benefits that come from having benefits, contact Donald Weiss Insurance Services. As an independent insurance agency in Santa Monica, California, we will help you find the perfect policy for your specific situation, all at the right price to fit your budget.
