Sponsored by MetLife
By Rieva Lesonsky
I’ve never liked the term “work-life balance.” Recently, I came across a term I like much better: “work-life harmony.” Your work and your personal lives will never be in perfect balance, but you can find harmony between the two. That’s not only important for you as a small business owner—but just as vital for your staff. Are you helping your employees create work-life harmony? Bundled employee benefits can help.
You know your employees want benefits—and according to 15th Annual Employee Benefits Trends Study, benefits are becoming increasingly important to employee loyalty and satisfaction. Consider these figures from the study:
- 83% of small business employees say having benefits gives them peace of mind for the unexpected.
- 58% of employees would like to have a range of benefits available, even if they have to pay for them
- 54% of small business employees look to their employers for help in achieving financial security through their workplace benefits.
- 57% of small business employees would prefer to get all their benefits through a single carrier.
You may be worried that your employee benefits aren’t good enough, and your best workers are ready to jump ship for an employer with a better benefits plan. But when will you find the time to look for a better benefits solution? This might be a good time to consider bundled benefits. Instead of having to wade through pages of information about scores of options from dozens of carriers, you can select from a few carefully curated plans that experienced small business brokers have put together to find the one that best fits your needs.
With so many different generations—millennials, Generation X, baby boomers—already in the labor force, and Gen Z turning 18 this year and entering the workforce—your employees may have a wide range of health and financial concerns. Besides healthcare coverage, there is a range of needs. Whether it’s paying off student loans, paying for their children’s college educations or paying for retirement, a good benefits bundle will provide a range of options to cover all the generations in your workplace. It will also allow employees to choose limits and levels of coverage that are appropriate for their life stage. For example, some employees may be happy with the basics, while others may want a wider range of benefits such as legal services and disability insurance. Bundles offer small business owners ease and convenience in creating a benefits package while also allowing you to include a variety of benefits.
Bundled benefits plans aren’t just easier for you—they’re easier for your employees to enroll in and navigate. When one carrier handles all benefits, enrollment in benefits is simplified, making employees more likely to participate. Tap into your benefits provider’s expertise at explaining benefits to your employees. When they understand their benefits, your employees will be able to get the full value from them, making them more loyal to your business.
Are you wondering which bundle of benefits is right for you? Just talk to a benefits broker who specializes in small business. He or she can recommend the right bundle of benefits to meet your employees’ needs and suggest ways to save money on benefits while still providing a robust package.
The dissolving boundaries between work and life mean we’re all busier than ever. In a hectic world, bundled employee benefits offer a simpler, easier solution that gives both you and your employees peace of mind.
To learn more, visit: https://simplysmartbundles.metlife.com/