Including Benefits in Your Business Plan: A Strategic Move

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Any startup business or new multiemployer trying to rise above its competition should offer a flexible employee benefits package to the individuals working for them. There are many reasons and advantages for a business to offer such benefits including but not limited to:
  • It helps to attract the most qualified team members when you’re looking to hire on new staff members. You are likely going to see an increase in applications.
  • Employee benefit plans help companies retain employees. You are likelier to keep individuals around past the interview process once benefits are mentioned.
  • It lifts the morale in the work environment.
  • It gives employees a way to better care for themselves and their future as well as the health and future of their families at home.
  • It shows that you care about the wellbeing of those that work for you.
  • As long as your plan remains in consistent compliance with all local, state and federal laws including the Affordable Healthcare Act, your company may qualify for tax breaks and credits.
  • You can avoid health care reform assessments which could lead to government penalties.
  • You’re offering your staff members lower health insurance costs.
  • You’re creating fewer financial constraints and issues for your staff members.
  • Your business is likely to see an increase of profit due to harder working, more professional employees.

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It is wise to include employee benefits in your business plan. As a startup company, this may be more difficult for you to do right away, but it never hurts to speak with a reputable insurance broker. A broker will make sure that it is feasible for your company to offer such benefits to your employees. They’ll even help you modify your employment benefit package and find the lowest rates possible for the plans and benefits you want. A longstanding insurance broker will have connections with leading insurance companies, giving them room to negotiate.

Written by Todd Taylor

Todd Taylor

Todd Taylor oversees most of the marketing and client administration for the agency with help of an incredible team. Todd is a seasoned benefits insurance broker with over 35 years of industry experience. As the Founder and CEO of Taylor Benefits Insurance Agency, Inc., he provides strategic consultations and high-quality support to ensure his clients’ competitive position in the market.

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