Recruiting and retaining talented employees is a vital way to build your business, because you can’t do everything on your own.

One tried and true way to attract and keep talent is to offer benefits above their compensation. You may already be offering vacation time and medical, dental and vision plans. But other businesses competing for these employees may be offering the same. The benefits you offer to set you apart from your competition definitely matter.

In fact, a recent survey noted 60 percent of people report benefits and perks factor heavily in whether they accept a job offer.¹ The same survey also notes that benefits help with retention with four out of five employees preferring additional benefits over a pay raise.

What you need are benefits that help your employees in two ways: helping protect them along the way and building toward their own future. Consider offering the following:

Protecting along the way

• Life insurance protection – A life insurance policy can provide peace of mind to your employees so that if they die, their loved ones will receive a death benefit. If a permanent life insurance policy is used, the policy can build cash value that the employee can use for their future. This is a benefit that your employee can use to both protect and build for their future. It can also be a way you protect your business from an unforeseeable loss. 

Building toward their future

• An Executive Bonus Plan – your business may have a few key employees, such as executives or highly successful salespeople, who are key to the success of your business. An Executive Bonus Plan is a fringe benefit that lets you provide a life insurance policy to them that has the potential to build cash value for future uses like retirement, paying for college and more. The benefit is flexible, so you get to choose exactly who gets this benefit.

Benefit by talking to a financial professional

Just like you need employees to help drive your business forward, an Ohio National financial professional can work with you to determine which benefits can fit your company size and budget. The benefits you offer can make your business more capable of recruiting the best talent and keeping high performing employees into the future. 

¹ 4 in 5 Employees Want Benefits or Perks More Than a Pay Raise; Glassdoor Employment Confidence Survey, Glassdoor.com, October 2015

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