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Answer Upon - Employee Retention or Employee Turnover - You Decide!
A friend has informed you that there is a job opening in his office. You’re intrigued, especially since it seems as if it is time to move on from your current job. You immediately begin the process of applying for the position, drafting your cover letter and fine-tuning your resume.However, you’re forgetting a very important point. Before you do anything else, you should research the company you are hoping to work for.At first, you might wonder why such research is necessary. After all, research is time-consuming and can be difficult at times. Also, if you are planning to apply to more than one company, you may think you simply don’t have the time to do any research.The fact is, you cannot afford not to research prospective employers. Such research can help you to write more effective cover letters. It can also prepare you well for your initial interview, as well as any follow-up interviews you might have. And it can certainly help you to feel more at home if in fact you secure the position you’re seeking. Here are a few critical questions that should help guide your research. What is the company’s corporate culture? Is it relaxed and laid-back, or more formal? What is the company’s mission? Has the company been profitable in recent years? How is the com
Voluntary benefits are FIRST voluntary to the employer who takes the time to find out what kinds are available, decides which ones best suit his or her company's objectives, and then VOLUNTARILY decides to make them available to their employees.
Voluntary benefits are THEN voluntary to the employees, who can pick and choose among the choices offered, based on his or her personal needs.
Oh, and ONE OTHER IMPORTANT CONSIDERATION: It is painfully obvious that losing good people is a very expensive reality. However, Voluntary Benefits are usually paid 100% by the employee! And, they will still love you for it!
In addition, most voluntary plans qualify for "pre-tax" treatment under Section 125 (Cafeteria Plans). This is an opportunity for a company to save a significant amount on "payroll taxes."
Under this scenario, both the EMPLOYEE AND EMPLOYER save money. A WIN, WIN for sure!
What is best to offer: PORTABLE Voluntary Benefits…or GROUP Voluntary Benefits?
The answer lies in what the employer wants to accomplish! If the company already has a "benefits rich" program, portable benefits are just fine—with one caveat: When a company uses ONLY portable voluntary benefits, although they have enhanced their program, they have in reality become a "collection facility" for the insurance company. The employer collects premiums through payroll deduction and forwards them each month to the insurer and, except for the "good wil
Sue forwarded me a strange e-mail she received from a catalog retailer in the United Kingdom.The message says: ‘We can confirm your order details;Estimated delivery date: 16.10.2001 Order reference number: BA01 Total order value: 68.37Unfortunately, Item 107-694 is currently unavailable. We have a substitute which is a similar item but all cream in colour. If you would like the substitute item sent please contact us by telephone or by e-mail.Best Regards, Online Customer CareWhat in the world is ‘Item 107-694’? How strange that the company tells her the item code and available colors, but does not mention a name or description of the product.The company asks Sue to contact them either by telephone or by e-mail, but no telephone number is provided.Such simple information. So obvious to the company. Why is it hidden from the customer?Key Learning Point -------------------------------------------------------------------------------- Don't expect customers to know or remember everything about your products and organization. Customers appreciate convenient references and reminders. Make it easy for customers to contact, query, try and buy.Action Steps ------------------------------------------------------
Think back...a long time ago…when you had an open mind!
What attracted you to your first job? Maybe you were still living at home and just wanted to make a few extra bucks? Later, when you graduated from High School or College your goals had probably changed. Money was certainly important, but what about those extra "perks" offered by your new employer—enticing weren't they? Maybe you were impressed with being offered all kinds of benefits, from health insurance to a 401k, group life to disability insurance, and even birthdays to vacations days.
Perhaps your needs changed as you transitioned from a single person through raising a family. I am sure you have heard the old saying, "The more things change, the more they stay the same."
That is certainly true when it comes to basic needs!
Today, you may BE the Employer or maybe the Human Resource Manager. Either way, you feel the weight placed upon your shoulders to provide benefits to your employees, to help them feel appreciated, and hopefully somewhat secure. After all, they need you, and you need them.
With today's high costs of providing health benefits, more and more employers are finding it necessary to "re-think" how to tackle this difficult situation.
What's a company to do?
Employers from virtually every industry are asking themselves:
- Do we cut back on the health benefits we offer?
- Do we raise deductibles and/or co-pays?
- Do we transfer more risk and/or costs to our people?
- Do we offer benefits based on employee "class?"
- Do we eliminate health benefits altogether?
Many employers have already made some of these changes, if not all of them, or they are possibly contemplating doing so at some future date.
However, REDUCING BENEFITS, or NOT PROVIDING THEM AT ALL, even for some of their staff, can have a detrimental effect on ALL THREE MAJOR BUSINESS GOALS:
- Increasing Revenues
- Decreasing Expenses
- Increasing Efficiency
Making decisions that could have a negative effect on their overall profitability makes many business owners very nervous indeed!
Can a company actually CONTROL the rising costs of Major Medical coverage?
It is no surprise to most companies that rate increases in the double digits are not at all uncommon these days. These rates reflect the "experience" of the group. Higher "utilization" of the plan often translates into much higher premiums at renewal.
No wonder so many companies are being forced to "re-evaluate" their options!
However, there is a new generation of Voluntary Benefit plans, commonly called "gap" coverage that allows a company to increase their deductible, resulting in a significant reduction in premium. This plan is designed to "match" the changes in the major medical plan.
They then "add" the voluntary gap plan to the "front end" of their benefit plan to cover most of the new "exposure" to the employee. This plan can cover most of the expenses that would have been covered by the "old" major medical plan, up to the new deductible. The result: The TOTAL premium for both plans COMBINED can cost an employer from 10% to 20% LESS THAN THEIR PREVIOUS PREMIUM! Lower premiums—with no significant reduction in benefits! It is almost like having your cake and eating it, too.
It is a simple mathematical calculation. Check it out, and let the numbers do the talking!
There is ANOTHER MAJOR BENEFIT to making this move: Much of the "front end" exposure is absorbed by the gap plan, and does not show up in the major medical experience. Renewal premiums, then, often drop to single digits. So, the company not only saves premium dollars immediately, but possibly for years to come! Pretty cool.
This can have a positive effect on turnover, primarily for those employees that are already on the major medical plan, in other words, the more "highly" compensated.
BUT, most employers' turnover problems come from the "lesser" compensated! This includes those who are NOT QUALIFIED to participate, or CANNOT participate because they simply cannot afford it.
What is the root cause of Turnover?
I do not have to tell you how employee morale can affect a company's bottom line. I am sure you see it in your everyday life.
Have you ever noticed that when you go out to your favorite restaurant, you can almost "sense" the morale of your server by their very attitude and the quality of the service you receive? There is probably a very strong correlation between that restaurant's benefit program and the server's job satisfaction—and it shows up right at your table!
Don't get me wrong—I'm not picking on food service—it's just a little more "visible" there. It also shows up with customer service personnel, sales people, line workers, fork lift operators, and, oh yes, it even shows up in break rooms! The truth is: It shows up EVERYWHERE—INCLUDING a company's BOTTOM LINE!
It's very simple: Satisfied employees stay. The others go.
What is the actual cost of Turnover anyway? And why should I care?
In every study I have researched, and information I have received from some of the most experienced and respected human resource managers anywhere, the answer is the same:
VERY EXPENSIVE!
It seems that the number STARTS at $3,500, at a minimum, to replace ONE $8.00 per hour employee! That's almost THREE MONTHS WAGES SPENT—for just one lost employee! The cost goes up exponentially for the more highly compensated people. This includes advertising for the job opening, interviews, screening, training the new hire…Oh, you know the rest.
Therefore, many employers are turning to Voluntary Benefits to provide more VALUE! But, Voluntary Benefits are just what they say they are!
Voluntary benefits are FIRST voluntary to the employer who takes the time to find out what kinds are available, decides which ones best suit his or her company's objectives, and then VOLUNTARILY decides to make them available to their employees.
Voluntary benefits are THEN voluntary to the employees, who can pick and choose among the choices offered, based on his or her personal needs.
Oh, and ONE OTHER IMPORTANT CONSIDERATION: It is painfully obvious that losing good people is a very expensive reality. However, Voluntary Benefits are usually paid 100% by the employee! And, they will still love you for it!
In addition, most voluntary plans qualify for "pre-tax" treatment under Section 125 (Cafeteria Plans). This is an opportunity for a company to save a significant amount on "payroll taxes."
Under this scenario, both the EMPLOYEE AND EMPLOYER save money. A WIN, WIN for sure!
What is best to offer: PORTABLE Voluntary Benefits…or GROUP Voluntary Benefits?
The answer lies in what the employer wants to accomplish! If the company already has a "benefits rich" program, portable benefits are just fine—with one caveat: When a company uses ONLY portable voluntary benefits, although they have enhanced their program, they have in reality become a "collection facility" for the insurance company. The employer collects premiums through payroll deduction and forwards them each month to the insurer and, except for the "good will
So many businesses are just plain dull. Totally lacking is that spark of creativity and energy. Instead, an image of decadence and boredom. I try to avoid shopping in these places. I bet many other people do likewise.I'm always on the lookout for the guy who dares to be different. Who believes his customers are entitled to a little theater in their shopping experience.I've been a retailer for 40 years and in that time I've learnt a lot about the retail business. Something which is never fully learnt or even properly understood is the element of creativity. The importance of finding creative ways to attract customers and even more creative ways of selling to them.Retailing is a highly competitive business and the giants in the industry are more like giant killers with their massive buying and selling power. Yet, their size can also be a handicap. The bigger you get, the harder to manoeuvre.There you have it. Problems for the small operators to combat the big guys and problems for the big guys who can't respond quickly enough to counter his smaller competitors. Nobody is immune from competition. No such thing as a monopoly in this day and age.Peter the Painter runs a small paint shop in a busy street near my home. His store is a little untidy and really not suitable t
Many employers have already made some of these changes, if not all of them, or they are possibly contemplating doing so at some future date.
However, REDUCING BENEFITS, or NOT PROVIDING THEM AT ALL, even for some of their staff, can have a detrimental effect on ALL THREE MAJOR BUSINESS GOALS:
- Increasing Revenues
- Decreasing Expenses
- Increasing Efficiency
Making decisions that could have a negative effect on their overall profitability makes many business owners very nervous indeed!
Can a company actually CONTROL the rising costs of Major Medical coverage?
It is no surprise to most companies that rate increases in the double digits are not at all uncommon these days. These rates reflect the "experience" of the group. Higher "utilization" of the plan often translates into much higher premiums at renewal.
No wonder so many companies are being forced to "re-evaluate" their options!
However, there is a new generation of Voluntary Benefit plans, commonly called "gap" coverage that allows a company to increase their deductible, resulting in a significant reduction in premium. This plan is designed to "match" the changes in the major medical plan.
They then "add" the voluntary gap plan to the "front end" of their benefit plan to cover most of the new "exposure" to the employee. This plan can cover most of the expenses that would have been covered by the "old" major medical plan, up to the new deductible. The result: The TOTAL premium for both plans COMBINED can cost an employer from 10% to 20% LESS THAN THEIR PREVIOUS PREMIUM! Lower premiums—with no significant reduction in benefits! It is almost like having your cake and eating it, too.
It is a simple mathematical calculation. Check it out, and let the numbers do the talking!
There is ANOTHER MAJOR BENEFIT to making this move: Much of the "front end" exposure is absorbed by the gap plan, and does not show up in the major medical experience. Renewal premiums, then, often drop to single digits. So, the company not only saves premium dollars immediately, but possibly for years to come! Pretty cool.
This can have a positive effect on turnover, primarily for those employees that are already on the major medical plan, in other words, the more "highly" compensated.
BUT, most employers' turnover problems come from the "lesser" compensated! This includes those who are NOT QUALIFIED to participate, or CANNOT participate because they simply cannot afford it.
What is the root cause of Turnover?
I do not have to tell you how employee morale can affect a company's bottom line. I am sure you see it in your everyday life.
Have you ever noticed that when you go out to your favorite restaurant, you can almost "sense" the morale of your server by their very attitude and the quality of the service you receive? There is probably a very strong correlation between that restaurant's benefit program and the server's job satisfaction—and it shows up right at your table!
Don't get me wrong—I'm not picking on food service—it's just a little more "visible" there. It also shows up with customer service personnel, sales people, line workers, fork lift operators, and, oh yes, it even shows up in break rooms! The truth is: It shows up EVERYWHERE—INCLUDING a company's BOTTOM LINE!
It's very simple: Satisfied employees stay. The others go.
What is the actual cost of Turnover anyway? And why should I care?
In every study I have researched, and information I have received from some of the most experienced and respected human resource managers anywhere, the answer is the same:
VERY EXPENSIVE!
It seems that the number STARTS at $3,500, at a minimum, to replace ONE $8.00 per hour employee! That's almost THREE MONTHS WAGES SPENT—for just one lost employee! The cost goes up exponentially for the more highly compensated people. This includes advertising for the job opening, interviews, screening, training the new hire…Oh, you know the rest.
Therefore, many employers are turning to Voluntary Benefits to provide more VALUE! But, Voluntary Benefits are just what they say they are!
Voluntary benefits are FIRST voluntary to the employer who takes the time to find out what kinds are available, decides which ones best suit his or her company's objectives, and then VOLUNTARILY decides to make them available to their employees.
Voluntary benefits are THEN voluntary to the employees, who can pick and choose among the choices offered, based on his or her personal needs.
Oh, and ONE OTHER IMPORTANT CONSIDERATION: It is painfully obvious that losing good people is a very expensive reality. However, Voluntary Benefits are usually paid 100% by the employee! And, they will still love you for it!
In addition, most voluntary plans qualify for "pre-tax" treatment under Section 125 (Cafeteria Plans). This is an opportunity for a company to save a significant amount on "payroll taxes."
Under this scenario, both the EMPLOYEE AND EMPLOYER save money. A WIN, WIN for sure!
What is best to offer: PORTABLE Voluntary Benefits…or GROUP Voluntary Benefits?
The answer lies in what the employer wants to accomplish! If the company already has a "benefits rich" program, portable benefits are just fine—with one caveat: When a company uses ONLY portable voluntary benefits, although they have enhanced their program, they have in reality become a "collection facility" for the insurance company. The employer collects premiums through payroll deduction and forwards them each month to the insurer and, except for the "good wil
There are many people who are in a position where they are not happy with their current role of employment. They would love to be able to find alternative work but may be scared or unsure of how to proceed. This could be because they have worked for the same company for a large number of years and feel that they have lost touch with where to look for work or about the daunting task of attending an interview.There are many places where people can go to in their quest to find alternative employment. If you are one of these people who have worked for the same company for quite a long time, you may actually be pleasantly surprised at the amount of help and opportunities that are out there. Most of the governments around the world are trying to help people to gain employment which helps them in turn to announce lower unemployment figures for their country.Job centresFor many, the first port of call would be to go to their local job centre. In my opinion most of the vacancies that are available here are not for exactly well paid positions, however in general the staff are normally very friendly and helpful.The internetSince the birth of the internet there have been an increasing number of websites offering job finding services and many of the larger companies advertise the
They then "add" the voluntary gap plan to the "front end" of their benefit plan to cover most of the new "exposure" to the employee. This plan can cover most of the expenses that would have been covered by the "old" major medical plan, up to the new deductible. The result: The TOTAL premium for both plans COMBINED can cost an employer from 10% to 20% LESS THAN THEIR PREVIOUS PREMIUM! Lower premiums—with no significant reduction in benefits! It is almost like having your cake and eating it, too.
It is a simple mathematical calculation. Check it out, and let the numbers do the talking!
There is ANOTHER MAJOR BENEFIT to making this move: Much of the "front end" exposure is absorbed by the gap plan, and does not show up in the major medical experience. Renewal premiums, then, often drop to single digits. So, the company not only saves premium dollars immediately, but possibly for years to come! Pretty cool.
This can have a positive effect on turnover, primarily for those employees that are already on the major medical plan, in other words, the more "highly" compensated.
BUT, most employers' turnover problems come from the "lesser" compensated! This includes those who are NOT QUALIFIED to participate, or CANNOT participate because they simply cannot afford it.
What is the root cause of Turnover?
I do not have to tell you how employee morale can affect a company's bottom line. I am sure you see it in your everyday life.
Have you ever noticed that when you go out to your favorite restaurant, you can almost "sense" the morale of your server by their very attitude and the quality of the service you receive? There is probably a very strong correlation between that restaurant's benefit program and the server's job satisfaction—and it shows up right at your table!
Don't get me wrong—I'm not picking on food service—it's just a little more "visible" there. It also shows up with customer service personnel, sales people, line workers, fork lift operators, and, oh yes, it even shows up in break rooms! The truth is: It shows up EVERYWHERE—INCLUDING a company's BOTTOM LINE!
It's very simple: Satisfied employees stay. The others go.
What is the actual cost of Turnover anyway? And why should I care?
In every study I have researched, and information I have received from some of the most experienced and respected human resource managers anywhere, the answer is the same:
VERY EXPENSIVE!
It seems that the number STARTS at $3,500, at a minimum, to replace ONE $8.00 per hour employee! That's almost THREE MONTHS WAGES SPENT—for just one lost employee! The cost goes up exponentially for the more highly compensated people. This includes advertising for the job opening, interviews, screening, training the new hire…Oh, you know the rest.
Therefore, many employers are turning to Voluntary Benefits to provide more VALUE! But, Voluntary Benefits are just what they say they are!
Voluntary benefits are FIRST voluntary to the employer who takes the time to find out what kinds are available, decides which ones best suit his or her company's objectives, and then VOLUNTARILY decides to make them available to their employees.
Voluntary benefits are THEN voluntary to the employees, who can pick and choose among the choices offered, based on his or her personal needs.
Oh, and ONE OTHER IMPORTANT CONSIDERATION: It is painfully obvious that losing good people is a very expensive reality. However, Voluntary Benefits are usually paid 100% by the employee! And, they will still love you for it!
In addition, most voluntary plans qualify for "pre-tax" treatment under Section 125 (Cafeteria Plans). This is an opportunity for a company to save a significant amount on "payroll taxes."
Under this scenario, both the EMPLOYEE AND EMPLOYER save money. A WIN, WIN for sure!
What is best to offer: PORTABLE Voluntary Benefits…or GROUP Voluntary Benefits?
The answer lies in what the employer wants to accomplish! If the company already has a "benefits rich" program, portable benefits are just fine—with one caveat: When a company uses ONLY portable voluntary benefits, although they have enhanced their program, they have in reality become a "collection facility" for the insurance company. The employer collects premiums through payroll deduction and forwards them each month to the insurer and, except for the "good wil
Winning battles left and right is as common as breathing for Tom Cruise. This two-time Forbe's world's most powerful celebrity has scored another win on a battle that could have stolen his name. In July 25th, the World Intellectual Property Organization (WIPO) awarded Tom Cruise full custody of the domain name TomCruise.com over the cyber squatter Jeff Burgar.The WIPO said that Burgar blatantly used the website to sell goods that are not in any way connected to Tom Cruise or Tom Cruise merchandises. The site operated by Burgar for ten years now fooled Cruise fanatics by attracting them to enter the site but once they have entered, they will be redirected to a different site.The War of the World's star won the battle on three critical grounds that the WIPO favored at the end. First was the domain name's being perfectly "identical or confusingly similar" to his name. Second was that the accused had no legal rights nor legitimate permission to own the name. And lastly, that his name used for a website was used in bad faith.Burgar, on the other hand, banked his defense on his right to freedom of speech. WIPO undoubtedly dismissed his defense for the reason that the freedom of speech does not entail a person the right to take possession of a trademark, much more use it for unfair comme
Don't get me wrong—I'm not picking on food service—it's just a little more "visible" there. It also shows up with customer service personnel, sales people, line workers, fork lift operators, and, oh yes, it even shows up in break rooms! The truth is: It shows up EVERYWHERE—INCLUDING a company's BOTTOM LINE!
It's very simple: Satisfied employees stay. The others go.
What is the actual cost of Turnover anyway? And why should I care?
In every study I have researched, and information I have received from some of the most experienced and respected human resource managers anywhere, the answer is the same:
VERY EXPENSIVE!
It seems that the number STARTS at $3,500, at a minimum, to replace ONE $8.00 per hour employee! That's almost THREE MONTHS WAGES SPENT—for just one lost employee! The cost goes up exponentially for the more highly compensated people. This includes advertising for the job opening, interviews, screening, training the new hire…Oh, you know the rest.
Therefore, many employers are turning to Voluntary Benefits to provide more VALUE! But, Voluntary Benefits are just what they say they are!
Voluntary benefits are FIRST voluntary to the employer who takes the time to find out what kinds are available, decides which ones best suit his or her company's objectives, and then VOLUNTARILY decides to make them available to their employees.
Voluntary benefits are THEN voluntary to the employees, who can pick and choose among the choices offered, based on his or her personal needs.
Oh, and ONE OTHER IMPORTANT CONSIDERATION: It is painfully obvious that losing good people is a very expensive reality. However, Voluntary Benefits are usually paid 100% by the employee! And, they will still love you for it!
In addition, most voluntary plans qualify for "pre-tax" treatment under Section 125 (Cafeteria Plans). This is an opportunity for a company to save a significant amount on "payroll taxes."
Under this scenario, both the EMPLOYEE AND EMPLOYER save money. A WIN, WIN for sure!
What is best to offer: PORTABLE Voluntary Benefits…or GROUP Voluntary Benefits?
The answer lies in what the employer wants to accomplish! If the company already has a "benefits rich" program, portable benefits are just fine—with one caveat: When a company uses ONLY portable voluntary benefits, although they have enhanced their program, they have in reality become a "collection facility" for the insurance company. The employer collects premiums through payroll deduction and forwards them each month to the insurer and, except for the "good wil
Managing a business entails a wide variety of responsibilities and project managers have to be up to the task. Fortunately, there are Business Process Management technologies in place to help processes run more smoothly. However, Six Sigma does more than just help processes run more smoothly. Six Sigma is a methodology. It allows for continuous of improvement of processes, on a project-by-project basis.Implementing Six Sigma into your business takes a high level of commitment, because it does not go project-to-project. There needs to be 100% commitment from all levels of management, especially upper management. Six Sigma is intended to be a methodology that is implemented throughout the entire organization, and without full support from the very top of the management chain down, the resistance to the change that is inevitable in any organization will triumph and Six Sigma will just be another business management project that had limited success.What Makes Six Sigma Truly DifferentSix Sigma is truly different from the average BPM technology because it is a methodology and a program of mentorship that begins with top management and funnels down to the people who really make things happen in an organization. With the full support of upper management, business managers are able to sup
Voluntary benefits are FIRST voluntary to the employer who takes the time to find out what kinds are available, decides which ones best suit his or her company's objectives, and then VOLUNTARILY decides to make them available to their employees.
Voluntary benefits are THEN voluntary to the employees, who can pick and choose among the choices offered, based on his or her personal needs.
Oh, and ONE OTHER IMPORTANT CONSIDERATION: It is painfully obvious that losing good people is a very expensive reality. However, Voluntary Benefits are usually paid 100% by the employee! And, they will still love you for it!
In addition, most voluntary plans qualify for "pre-tax" treatment under Section 125 (Cafeteria Plans). This is an opportunity for a company to save a significant amount on "payroll taxes."
Under this scenario, both the EMPLOYEE AND EMPLOYER save money. A WIN, WIN for sure!
What is best to offer: PORTABLE Voluntary Benefits…or GROUP Voluntary Benefits?
The answer lies in what the employer wants to accomplish! If the company already has a "benefits rich" program, portable benefits are just fine—with one caveat: When a company uses ONLY portable voluntary benefits, although they have enhanced their program, they have in reality become a "collection facility" for the insurance company. The employer collects premiums through payroll deduction and forwards them each month to the insurer and, except for the "good will" it generates, doesn't even get compensated for it!
The MOST IMPORTANT POINT on this issue: Once they get the plans you offer, if they can "keep them on their own," what "holds" them to you? Nothing! They can go to work for another company and not lose a thing!
But, YOU still have to spend that $3,500 or more to replace EACH and every one of them!
ON THE OTHER HAND…
If an employer's goal is to ATTRACT and RETAIN GOOD EMPLOYEES (and, after all, that's why you're even reading this, isn't it?) then GROUP VOLUNTARY PLANS ARE THE OBVIOUS CHOICE! Why? Because GROUP plans are NOT PORTABLE (except under some temporary circumstances)!
You want that employee to have a REAL REASON to STAY with your company. This choice becomes the GLUE that accomplishes your mission!
It is OK to have a couple of portable plans mixed in (like permanent life insurance or critical illness plans), but be sure that the most basic plans, like health and disability, are group!
A Real Case in Point…
A close personal friend of mine (I'll call her "Grace") took her daughter to lunch for her birthday about two years ago. You see, Grace is an independent sales person and didn't have access to affordable health insurance. A "pre-existing condition" didn't help matters.
When she entered the restaurant (a major national chain) she saw a sign that read "Join our team. Benefits Day One!" She inquired, picked up an employment application, and applied for a part-time position to get the benefits.
Did she get full major medical? No. They offered a "GROUP voluntary limited benefit plan." It does, however, give her access to doctors, prescription drugs, and other basic health care.
After two years, Grace is still there! She works at her sales job during the day and the restaurant in the evenings. She says she cannot "afford" to leave because of her benefits—and, after all, she says she loves working with the other people there because they always seem to be in a good mood. Do they have good morale? You bet!
In Conclusion:
Quality Group Voluntary Plans are available to any company that is willing to do their homework, seek out advisors they can trust, analyze the programs available in their state, and choose the plans that will work best for them.
These unique business management TOOLS can provide you with the LEVERAGE you need to REDUCE your employee TURNOVER.
Will these suggestions solve 100% of your turnover problem? Of course, not! But, they can certainly put a huge DENT in it! And that dent can show up as a "positive bubble" on your bottom line.
VOLUNTARILY deciding to provide the GLUE that will help your good employees STICK AROUND will not only be APPRECIATED, but also may be highly PROFITABLE!
Will you take advantage of Group Voluntary Benefits? Only you know the answer to that question.
As I said in the beginning—YOU DECIDE!
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