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Increase Employee Satisfaction and Productivity Through Employee Benefits

Posted on 07 April 2012

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With advancements in technology, lifestyle and work life approaches have evolved. As a result, employers approach their relationship with their employees in a whole new light. Although employee benefits have existed for decades now, such benefits have never been well thought of and carefully planned as they are now.

Due to past experience, employers have realized that employees who receive rewards or appreciation tend to become more satisfied employees who remain loyal to the company even in times of crisis. The financial crisis that we are experiencing today has strengthened this idea and thus employers are striving to keep their best and most talented employees in their companies in the midst of the competition. The job market these days have also become extremely competitive that companies have a hard time keeping skilled employees.

Therefore, employers are turning to a more lucrative employee benefits package to attract and retain employees. Through offering such attractive benefits, employees will not hesitate to join the company and remain there for a long time. By carefully choosing the package, employers are able to address the needs and wants of employees regarding employee benefits.

The most common employee benefits these days that employees find attractive are health insurance, life insurance, disability insurance, retirement benefits, paid time off and other fringe benefits. While larger companies can afford to offer all such benefits, other smaller companies just cannot afford them all. A great solution to this problem is to offer a combination of carefully selected employee benefits that will address most of the needs of employees; the less important can be offered by the employer at the expense of the employee.

Today, flexible benefits plans, also called flex plans or cafeteria plans rapidly increasing in popularity. Under the flex plans, employees are allowed to choose among several options to include in their employee benefits package. Employees have the option to choose among qualified benefits that employers are offering to suit their needs. Another option for employees is to avail of tax-efficient benefits that are commonly excluded in the typical coverage plans offered by employers. Lastly, young and single employees can choose to take the cash instead of availing the mentioned benefits.

Whether employers offer the traditional employee benefit plans or the more flexible cafeteria plans, they will create a more satisfying workplace. Satisfied employees are generally happy and thus, they are more willing to work harder and become more creative in the workplace. Therefore, with employee satisfaction, enhanced productivity results in the workplace.

For more information, look at group benefits brokers Calgary.

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