How Employee Benefits Plans Are Creating Happier, Healthier Workers

Group insurance

Your job should support you through thick and thin. This means consistent pay, an environment you feel safe in and, especially important for many, reliable health insurance. Employee benefits are quickly becoming the dealbreaker for many adults, providing them the peace-of-mind they need to continue working full shifts alongside balancing a family. Your benefits plan should be analyzed inside and out to make sure you’re receiving the most out of your given field. Without it you leave yourself open to more stress, less support and the likelihood of having to switch when your company isn’t proving sufficient.

Employee Turnover

Employee benefits are a notable buffer against issues like employee turnover. Have you left your job within the past few years? How about the past year? Employee turnover is the phenomenon of employees leaving their company or business in favor of another job, an issue that sees many employers struggling in their wake. Studies have shown $11 billion is lost on a yearly basis due to employee turnover alone. Contrary to popular belief, it is actually cheaper to maintain an employee in the long term than to hire a new one.

Paid Leave

A commonly sought after benefit is that of paid leave. This is a flexible support system that allows workers more variety in their work and home life, whether they take it to recover from an injury or use it as vacation time. Proffered information has shown paid leave to be the most commonly provided benefit to employees overall, that of which includes paid holidays and paid vacation time. Both of which has been available to nearly 80% of employees.

General Benefits

An employee benefits plan, ideally, should cover multiple bases. This way you feel more secure in your position and are able to tackle problems as they arise instead of scrambling for coverage at the last second. Medical care plans were made available to nearly 70% of the private sector as of recent years, though only half of all workers actively took advantage of such plans. Dental, eye care and therapy are just a few of the benefits you can add onto your plan.

Retirement Plans

While retirement plans can seem far out of reach for some lifestyles, the fact of the matter remains they can be cultivated slowly but surely over the years. Despite constant warnings to the contrary, a majority four out of five Canadians are still financially on track for a healthy retirement thanks to data provided by the consultancy McKinsey. A retirement plan can be promoted by multiple establishments, helping you save up little by little to prepare you and your family for a safe future.

Mental Health

Constant stress, insecurity and repeated doubts about the future have a noticeable toll on the mental health of workers. Actively disengaged workers have been found to be twice as likely as engaged workers to come down with a depressive episode, if not several. Employees who are not just engaged, but have a high sense of well-being and self-worth are nearly 40% more likely to evaluate their lives highly. They are also more likely to better recover after an illness, injury or personal hardship in their lives.

Seeking Out A Benefits Plan

A successful company is built on happy, secure and well-covered employees. Helping people lead better lives involves providing them resources when they’re recovering from a pregnancy, solutions when they’ve come down with a serious illness and safeguards when their mental health is at stake. Companies that offered 11 ore more benefits saw nearly 67% of employees recommending their employers as great places to work in the long-term. Likewise, nearly half of all Millennials say they expect to leave their current employers in the next two years if they don’t have any other choice. Group insurance is out there for the taking. Consider an individual health insurance or employee benefits plan to make your work life more stable this year.

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