While creating an employee benefit plan, many employers think no one knows their employees better than them. If this had been the case, many employee benefit plans would not have been falling apart. While creating your employee benefits plan, you must stay clear of preconceived notions and confirmation bias. To help you think with a clear mind, we have shared in this post some common employee benefits myths that often shroud the judgment of employers. Let’s have a look.
1.Employee Benefits are Usually Expensive
There are businesses that want to go overboard to flatter their employees and do not mind spending a whopping amount. On the other hand, you will also come across employers who are offering benefits without digging deep into their pockets. As, applicable to every decision, you must be willing to shop around to find an employee benefits health insurance company in Sonoma County that offers a solution within your budget. According to your needs many consultants can even customize their package.
2.Health Insurance is enough to Keep Employees Happy
If you think having a good insurance plan that offers comprehensive coverage is enough to make your employees fall in love with your company then think again. Offering nothing more than an insurance plan to your employees would have sufficed earlier, now, it’s no longer enough. Employees today expect their employers to provide more benefits such as sick leaves, retirement plans, and flexible work hours.
3. All Benefits Must have a Cash Value
Many employers strongly believe that every employee benefit must have a significant value. Such employers often frown at the idea of introducing non-monetary benefits such as offering more autonomy to employees, encouraging them to come up with meaningful contributions, and offering telecommunication options. Though these benefits do not carry a monetary value, however, it can help to boost employee morale and productivity; the end outcome that every employer seek while designing a benefits plan.
While designing your employee benefit plan, you need an expert by your side who can help you stay steer clear of these myths. If you are located in Petaluma or the surrounding area, then contact Arrow Benefits Group at 707-992-3780 to stay away from these myths.