Employee recruitment and retention are an everyday concern for businesses of all sizes. They can be especially challenging for small businesses that may have fewer resources and smaller budgets than larger counterparts.
Your potential new employees – and your current ones – are comparing what you have to offer against other employers constantly. What does that mean for you? Your recruitment and retention competitors are virtually any business – a “mom and pop” store or small office, a big box chain, or a nationally recognized brand.
How do you compete?
Employee benefits go a long way in leveling the playing field. In today’s talent market, current employees and potential new hires expect benefits. If you don’t offer them, you’re taking yourself out of the competition and will likely face regular turnover.
What employees want: You probably know from your own employees that health insurance consistently ranks among the most desired employee benefits. That’s probably what influenced your decision to offer CaliforniaChoice in the first place. It maximizes options for your employees, while also helping you control your costs. Our program includes eight health plans and 130+ coverage options.
Is cost a factor?
Cost is always a factor. But it’s important to consider the hidden costs of not offering benefits, too.
Turnover: Not offering benefits makes it difficult for small businesses to retain employees. If you have consistent turnover, that interferes with your productivity and can be detrimental to your bottom line.
Recruiting: It takes money to recruit new employees . . . no matter how you go about it. Use a recruiter, and you’ll pay a percentage of your future employee’s annual salary. Run an online ad or use a job-posting site (like Indeed or ZIP Recruiter), you could spend hundreds per month. Get leads from employee referrals? That will cost you if you offer a reward for the referring employee.
Onboarding and Training: Once you interview and find your new employee, there are other costs. That’s because you’ll have to onboard them. HR paperwork aside, you also need to train them. That often means diverting other employees from their core jobs to provide support.
CaliforniaChoice is the right choice.
CaliforniaChoice can help you attract and retain top employees. It offers flexibility and value-added features you won’t find in competing programs. Ask your broker at your group’s renewal about changes we’ve made to keep you and your employees satisfied for another year.