Employee Benefits - Making Low-income Jobs More Valuable
Problem: Turnover
One of the biggest cost factors for many businesses is employee turnover. With the vast majority of small businesses that pay low-wages, a high turnover rate is usually associated with the company. After talking with several employees from different companies and different line of work, I found a high level of low morale among the employees.
Most employees in low-wage jobs do not feel with their value with their job. Although the employee may be grateful to be employed; however, this is often detrimental for the company and the employees. Often times the employee is only there to collect a check. Therefore, the company suffers the most from low quality work from their employees, low morale from the workers, which generally can hurt the company’s bottom-line profits could plan a major roll in why new employees do not stay with the company for long. Give employees a strong enough reason to want to stay with your company other than losing their job and income just may very well curb the appetite of the employee turnover beast.
Smart employers who notice this problem and takes serious action to bolster their employees’ morale and add more value to their employees’ job can turn this around in a matter of months if not weeks. It is possible to value to your employee’s job by adding an employee benefit package to your current list of employee’s benefits and or start one up without having to shell out extra funds than you already have in hiring and training your employees. One such employee benefit package provides families with quality legal coverage and employers can provide their employees this same coverage free of charge to the employer.
The products and services are highly needed by low-income workers and most do not have access to them nor could they afford these quality services. Thus, the employer that helps their employees to get these services is adding a huge “sence of value” toward the job. With these services, employees can have the peace of mind knowing that their family has access to quality legal services whenever the need arise. The company becomes much more valuable to the employee. The added since of value the employee feels may transfer over to better quality work. This will be life changing for the employee and more profitable to the employer and the company.
However, employers may need to help or give an incentive to help get every employee to sign up for the services. Employers can make this happen many ways. For starters, employers can help employees sign up for the service by paying a percentage of the monthly cost of the service. However, the employee will need to sign up the same day the package is presented. This will help to jumpstart process. Once the employees are signed up help them to get value from the new employee benefit package the just enrolled in. Simply, help them to submit the Will paper work that comes with the membership. If you where to ask the employee’s if any of them have a will most if not all will say that they do not have a will prepared yet. The consensus to “why” would probably be that they cannot afford the legal fees to have an attorney to draw up their will and update it every year free of charge. This is one the many value added benefits the employee will receive as a member with the family legal plan. With this simple step, employees will begin to extract value from the services just minutes after signing up for the service.
Employers should realize that running their business based on outdate Industrial Age methods is just not working anymore. This is the Information Age and business needs to adapt to all the changes that this new age is demanding of them and of everyone who plan to thrive and prosper in the Information Age.
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Kelvin Shaw has been helping people succeed online for over 10 years and has dedicated his life to Internet Marketing and helping others. Visit his web site http://www.InsuranceSalesProfessionals.com to find out how you can create success online with your own home-based business.
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Tags: a, benefits, employee, employer, income, Jobs, morale, profits, retention, small businesses, turnover
