Health Benefits More Important than Ever During America’s Labor Shortage
In March, job openings across the country soared to a record-high at 8.1 million. For those jobs, there is only 1.4 available workers, a rate that is continuing to fall, according to the U.S. Chamber.
America is going through a major labor shortage and as employers grapple with how to attract and retain talent, it’s forcing some important questions to the surface. Among them: what type of benefits are truly attractive?
For employers and the health benefits brokers who work with them, now is the time to rethink what quality coverage looks like. At Gravie, we’ve been doing this since our inception.
Health Benefits Key to Recruitment
When it comes to attracting employees, there’s no scarcity of data showing that health benefits are one of the top ways to attract and retain quality, motivated employees. One example: a recent Society for Human Resources Management (SHRM) employee benefits survey found nearly one-third of employees cited their current benefits package as a top reason to look for a new position with a different employer in the next 12 months.
In these scarce times, what is the best way to attract and retain employees? Give them health benefits they can actually use.
The Health Benefits Your Employees Really Want
While health benefits have been trending toward high-deductible health plans with convoluted coverage for years, the truth is, those high deductibles often make seeking out necessary medical care – even preventive care – a complicated and expensive endeavour. They can leave individuals feeling like they’re paying a hefty price on premiums, while also spending a lot on healthcare services before they meet those sky-high deductibles – so much so that they skip out on routine appointments and care that can prevent larger issues down the road. And all of that can leave them feeling less-than-rosy about their employer and their choice of plans, too. Today’s job-seekers want health plans that are easy to understand, easy to use, and cover the healthcare services they and their family need the most – and won’t leave them feeling like they’re spending a lot while getting very little in return.
At Gravie, we’ve been at the forefront of driving change in the health benefits industry by creating solutions that put consumers first. After countless focus groups, employer feedback and time spent poring over claims data, we developed a whole new health plan — Comfort™ — designed to delight current clients, and dazzle prospective ones with zero deductibles, zero co-pays, and 100% coverage on most common healthcare services, at a cost comparable to most traditional group health plans.
This type of health plan was desperately needed in today’s market, and that’s even more true as employers across the country feel the pinch of the current labor shortage. As one Comfort user puts it, “Having such good insurance that covers so much and so easily is huge for me. It absolutely impacts looking at future job opportunities, it absolutely sets a standard.”
The bottom line? Consumer-centric, progressive health benefits are one of the key ways to boost your recruitment efforts. To learn more about Gravie’s competitive, personalized health benefit solutions, contact us!