Attracting and retaining top talent is vital to an organization’s success. In addition to the high costs associated with employee turnover, the retention of employees impacts multiple areas in an organization, including overall productivity and morale, and should be considered a top priority for every business.

Showcasing your employee benefits can be a highly effective recruitment tool and demonstrates to perspective employees the value they’ll receive should they accept an offer. It is also vital to continue to highlight benefits as it could also be a deciding factor for an employee on the fence about staying with your organization. However, too often benefits are only discussed once an offer has been accepted and the employee is in the onboarding process.

According to research by Group Risk Development (GRiD), only 22 percent of organizations promote their benefits during the recruitment process, and only 25% include any mention of benefits before day one of employment.

Health insurance is the number one benefit employees want. This was a factor prior to the pandemic and even more so now. Other benefits cited include:

· Flexible Schedules

· Remote Work Options

· Generous PTO

· Retirement Plans

· Family Leave

· Life Insurance

· Education/Student Loan Assistance

A survey conducted by the Harvard Business Review found that 88% of respondents would choose a lower paying job if it had better health, dental, and vision insurance. In such a tight labor market, businesses providing health benefits can have an advantage in attracting and retaining talent. However, in South Carolina, only 30% of businesses with 10 or less employees provide health insurance coverage to their employees, citing the high cost of coverage as a barrier.

The Chamber, in partnership with BlueCross BlueShield of South Carolina, has introduced some new health insurance solutions for businesses with under 50 employees that include added benefits, exclusive to Chamber investors, called Chamber Plus. Chamber Plus offers discounts and reimbursements for vision and dental services. Employers currently not offering health insurance now have access to affordable options to provide health insurance to include dental and vision benefits.

To find out if the ChamberBlue® Health Insurance Options could be a solution for your business, and to get a free, no-obligation quote, visit www.greenvillechamber.org/savings. We also have numerous options for businesses with 51+ employees.

The tax benefits for businesses providing health benefits, coupled with the high costs of turnover, and hiring new employees, could provide small businesses with the capital needed to expand their benefit offerings. With increasingly competitive markets and higher employee expectations, one of the best tools in your toolbox is offering an exceptional benefits package. It doesn’t matter what position you are hiring for; you want to have the right package in place to attract the best candidates for the job.