How motivated are your employees? Do they have a good reason to come to work every day and do their best? Do you know that extrinsic rewards can not only help motivate your employees, but limit the amount of absences and issues your employees have in the work place? Insurance is just one of the many tools you have at your disposal to help keep your employees happy enough to do more than just the minimum. Below, you can learn about some insurance options that you may not have considered yet, or new methods of using insurance to motivate employees.
Offer Employer Paid Life Insurance
When people are struggling to make ends meet, life insurance isn’t the first thing they are worried about. However, when you present to them, they may start thinking about the future and how they don’t want their children or loved ones to struggle to make ends meet. Even a small bit of life insurance helps. If you offer paid employee life insurance for limited coverage with even a minimal return, your employees can see that you have a vested interest in not just them, but their family as well. They can add to the premium if they want, but it’s great to know that at least a bit of something is there for them.
Choose Health Insurance with Preventative Maintenance Bonuses
Not all health insurance plans are the same. Some actually offer bonuses in the form of reduced rates or funds or points delivered to a point or debit card when policy holders use preventative maintenance. As an employer, this kind of plan benefits you because employees who use preventative maintenance services are more inclined to be concerned about their health, so they take good care of themselves. As a result, you have to deal with fewer missed days and your employees are happier with their health insurance.
Consider Dental, Vision, and Pet Insurance
Some health insurance plans don’t cover dental and vision, and they aren’t very likely to cover pets. When your employees have these type of insurance plans, they have to worry less about out of pocket expense for things that can have an enormous impact on their finances. When your employees find themselves stretched too thin financially, they might ask for more hours initially, but eventually they will just look for a better paying job. That means you could lose a good employee who is just trying to take care of his her family, including the fur babies.
While some of these measures may seem extreme, it’s important for employers to look after their employees. Insurance can be a life saver for some families, even life insurance that pays out when the employee passes.