Illustration of a dentist, pharmacy, and outpatient clinic

Employee Benefits: 3 Reasons to Invest in Your Team’s Health

July 29, 2016 | Article | By: Heather Bridge

Running a successful business means taking care of your staff. Your employees are the ones on the front lines, walking through each client’s pain story and delivering outstanding results! Taking a small step to invest in the long-term health of your employees builds a strong foundation for your practice. So while you may struggle with the upfront costs of providing a benefits plan, there's far more to be gained than lost.

What’s in it for you:

Happy employees = happy clients

40% of business owners experienced a drop in absenteeism when they offered benefits.

Employees with benefits are more likely to have higher job satisfaction. Higher job satisfaction leads to better care for your clients. As a bonus, benefits are an inexpensive way to add value to your employment package without it costing you tens of thousands of dollars in individual raises. As a health practitioner, investing in staff benefits shows employees that you value their health and wellness.

Employees value benefits too! In a recent survey from Monster.com, more than a third of people chose healthcare as the most important benefit from an employer, even over the importance of vacation time. Sanofi-aventis Healthcare Survey polled people who currently have employee benefits coverage. They were asked if they’d rather keep their benefits coverage or receive $20,000. Almost half opted to keep their benefits.

Keep your superstars

50 - 60% of an employee's salary is the cost of finding a replacement

What do satisfied employees do? They stay! Studies predict that replacing an employee can cost a company as much as 50–60% of that salary. That means keeping your superstar staffers should be a top priority. Long-term employees build lasting relationships with your clients and show how trustworthy and stable your practice is. Plus, the expense associated with recruitment and training are so high that you want to reduce the amount of turnover happening at your clinic as much as possible. A simple way to decrease turnover is to increase the value of working at your clinic. A benefits package will help you do just that.

Attract top talent

Only 75% of small to mid-size businesses offer benefits

Working for an independent clinic has huge perks; flexible hours, personal autonomy and authenticity of care. Adding health care benefits is just the cherry on top. Set yourself apart! Only 75% small to mid-size businesses offer benefits. Your good reputation, great work culture and now benefits will go a long way to boosting your reputation attracting top talent candidates.

Affordable benefits for your clinic

Providing comprehensive coverage for all your employees is affordable! Our group rates mean cost-effective coverage for everyone at your clinic. Learn about the benefits of benefits.