Workplace benefits bring value to employees

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Employers are always looking for ways to attract and retain top talent. From free snacks in the breakroom to extra paid time off, businesses are continually looking for ways to entice potential candidates and sustain current employees.

Those who are looking for a job are searching for that sweet spot of the perfect position, location, pay and, of course, benefits.

The bread and butter of benefits is the medical plan, which is what employees deem the most valuable. Medical covers their wellness visits, some prescription medications and certain cost percentages of a trip to the ER, for example. Everything is not included, however, under core medical benefits.

Employers realize exactly how vital benefit choice is for employees and applicants. Supplemental workplace benefit offerings continue to be a popular choice and are growing. This growth is not only seen in the traditional sense, like dental and vision but also within newer products such as an accident or short-term disability.

“We look at the entire benefits package and what is the most appealing to employees,” said Patty Guenette, Wellfleet’s Director of Human Resources & Training.

“Many potential candidates solely look for three things in this order: Salary, healthcare and career growth. What most don’t realize is that healthcare consists of medical benefits and coverage for wellness exams etc.

“Offerings such as dental and vision, employers don’t have provide those. Adding in workplace benefits such as accident, critical illness and short-term disability to any plan help employees feel more valued because it gives them options.”

According to many professionals within the industry, workplace benefits are now viewed as essential from both an employer’s and employee’s point of view.

“The high cost of healthcare has opened a new path for supplemental products,” said Billy Farmer, Wellfleet Workplace’s Vice President, National Sales.

“Employers are searching for a way to fill the gaps in high-deductible plans and employees are searching for ways to protect themselves from out-of-pock expenses. Supplemental offerings fix both of those issues.”

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Plans administered by Wellfleet Group, LLC and underwritten by Commercial Casualty Insurance Co. (changing to Wellfleet Insurance Company, upon regulatory approval) or Atlanta International Insurance Co. (changing to Wellfleet New York Insurance Company, upon regulatory approval).