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November 1, 2019

How to Attract and Retain Employees with Voluntary Benefits

Finding the right candidates for your organization and then navigating the onboarding process can be stressful whether you are filling a new position or replacing a former employee. The creation and promotion of a voluntary benefits package may streamline your hiring process by creating more interest in your open positions and increasing employee loyalty to reduce turnover. Acrisure’s Agency Partners are here to help.

Voluntary benefits enhance your employer-paid program by allowing employees to take advantage of lower group rates, guarantee issued products, the convenience of payroll deductions, and, in some cases, pre-tax deductions. Typically, employees pay 100 percent of the premiums for supplemental benefit products.

Rising Above the Competition

Extending voluntary benefit options to employees enhances value for individuals and families by offering peace of mind and customizable coverage at affordable prices. It also demonstrates that your organization cares about employees’ total health and wellness and creates a more loyal workforce.

In a competitive hiring environment, this goodwill could help elevate your organization above the competition and land you qualified candidates. A well-communicated and utilized voluntary benefits program can also bolster your workforce by retaining long-term and valued employees who, although they may have other opportunities, choose to stay with your organization for the combined package of culture, loyalty, benefits, and other positive attributes.

The availability of voluntary benefits may also keep existing employees from looking for employment elsewhere. Despite being paid for by the employee, convenient access to voluntary benefits are perceived as a bonus by many employees. Paired with wages, schedules, work environment, and other bonuses, benefits packages will help solidify employee loyalty and set the bar much higher for any other position they may consider. Without well-appointed benefit options, an employee is more likely to seek options elsewhere.

Acrisure’s worldwide network of Agency Partners and carriers means we can offer clients the best policies and pricing, accessing voluntary benefits and other insurance products that other insurance agencies can’t. You, in turn, can offer your employees coverage that they may not otherwise have access to. That’s a win-win.

Developing Voluntary Benefits Packages

Instituting a voluntary benefits package can be simplified with the help of a trusted partner like Acrisure. The experienced advisors within our Agency Partners are available to walk you through the types of voluntary benefits available and craft a package that will appeal to your employees. From critical illness and telemedicine to identity theft coverage and pet insurance, the available options should be as diverse as your employees.

We will work with you to identify any gaps in coverage and provide access to comprehensive information on voluntary employee benefits to help you determine which options will improve employee attraction and retention.

Building Relationships

Acrisure is dedicated to your organization’s success and growth. Helping you cultivate a committed and well-covered workforce is just one of the ways we support you as a client. Connect with one of our Agency Partners to discuss your specific benefits and business needs and create a voluntary benefits package to attract and retain the right employees.