It’s no secret that today’s job market is extraordinarily turbulent and difficult to measure.
The unemployment rate in the United States has fallen to a level close to the record level Only 3.8 percent in March 2022, having jumped to more than 15 percent just two years ago in the wake of the COVID-19 pandemic and crisis. Prior to this event, the national unemployment rate had fallen steadily from 10% at the beginning of 2010 to just under 3.5% in early 2020.
When you consider that rate of less than six million unemployed people and 11.3 million jobs available on the last working day of February 2022, according to US Bureau of Labor StatisticsThe recruitment challenge becomes crystal clear.
Recruiting and Retaining Employees: The 2022 Employer Challenge
Another dynamic that helped alert employers, so to speak, was the so-called “Big Resignation”.
according to InvestopediaAnd the
The Great Resignation describes a higher-than-normal smoking cessation rate for American workers that began in the spring of 2021 and continued through the fall as vaccination eased the COVID-19 pandemic in the United States, decreased unemployment, and increased job opportunities.
There are many theories claiming to explain – or reject – this phenomenon, but the anecdotal evidence is certainly troubling. Dozens of employees are leaving their jobs in coordination with fellow employees, restaurants are closing abruptly with employees resigning without warning, and thousands of remote workers have resigned.
Pew Research Center surveyed workers who left their jobs in 2021 and Results The eye opens.
“The majority of workers who left in 2021 say that low wages (63%), lack of opportunities for advancement (63%) and feelings of disrespect at work (57%) were reasons for leaving work… Nearly half say childcare issues were Reason for this is quitting (48% among those with a child under 18 in the family).Similar participation indicates a lack of flexibility in choosing when they spend their working hours (45%) Or the lack of good benefits such as health insurance and paid time off (43%).“
While nearly half of the reasons given were of a corporate culture nature, the other reasons were closely related to employee benefits.
This is why employers today should consider their employee benefits package from a new perspective when it comes to attracting and retaining employees. And for many workers, the bedrock of a great employee benefits package is an affordable, comprehensive health insurance plan.
What should you include in your employee benefits package?
as one source NotesAn employee benefits package covers the full range of services, wages, insurance, vacation time, and other benefits available to an employee from an employer. The elements that make up employee benefits include more “traditional” items such as health insurance benefits to benefits such as:
- life insurance
- dental insurance
- Paid vacation time
- Paid sick time
- Paid Leaves
Of course, all employers and businesses differ in their ability to afford the various perks possible. But there are several components that, if you can implement, can make a great benefits package for employees.
In addition to the benefits listed above, you can enhance the perceived value of your benefits package offer by including perks like these:
- 401k retirement plan
- vision insurance
- dental insurance
- Employee Bonus Program
- Flexible spending account
- Maternity leave / medical family
As you begin to factor in the various costs involved, keep in mind that studies repeatedly show that upwards of 80 percent of workers say they prefer the new benefits over a salary increase.
For small business owners in states like California, health insurance poses many challenges and many questions. Also covered California pointing toAnd the
Small business Owners with fewer than 50 full-time employees are not required to provide healthcare coverage for their employees. However, you should know that if a small business with fewer than 50 full-time employees offers coverage, that coverage must comply with ACA requirements.”
However, as we have seen in this article, just because you are not required to do so, not offering health insurance can create a difficult situation for you as an employer when competing in the current employment market.
And when it comes to navigating the options and requirements involved in choosing the best health insurance coverage plans to include in your employee benefits, Proven Professional Guidance It can help you avoid costly mistakes.
When you need to create a great employee benefits package, JC Lewis can help
JC Lewis Insurance, a family business of expert agents, headquartered in Sonoma County, offers individual and small group health insurance plans only from leading health insurance companies. Our team knows health insurance and we want to help you build an employee benefits package with the best health coverage.
We have decades of experience and have been licensed and approved by each of the insurance companies we work with display coverage For individuals, families, and employers in small groups in California, Arizona, and elsewhere.
In addition to these insurance services, JC Lewis also assists with Medicare supplemental insurance and prescription drug plans for seniors. To help find the right Medicare Health plan or prescription drug plan and to find Medicare providers in your area, contact JC Lewis Insurance Services.
As a small business, we have a deep understanding of the needs of business owners and employers, particularly when it comes to employee benefits packages. Let us help you navigate the aspects of health insurance by making a free call at 866-745-9555. We’ll help you understand your options so you can make an informed decision.