The facts are in and not terribly surprising. Employee turnover is one huge drain on small business’ finances and profitability. The reasons behind this turnover and employee exodus? A lack of health care benefits tops the list. And lack of health care benefits doesn’t exactly attract new hires, either!
The Mounting Cost of Employee Turnover:
According to the Society for Human Resource Management (SHRM), the average cost to hire a new employee is almost $4,700. Some employers think the total cost could even be three to four times the position’s salary. Here’s a quick rundown of the turnover costs you might face:
1. The cost of someone leaving (adjusted schedules or leaving a role unfilled)
2. Hiring expenses (ads, interviews, et al)
3. Training and onboarding costs
4. Lost productivity (all that non-revenue generating time between departure and a completely trained new employee)
Now, imagine if you could wipe out those costs and bypass all that wasted time by simply offering access to the health care and wellness that the employee wanted in the first place.
Access to Health Care: The Not-so-Secret Weapon for Employee Retention:
A recent CareerPlug survey of hourly workers found that a sizeable 66% of employees would stick around at their current job if their employer offered additional benefits like access to health care. And that’s even over a pay raise!
So, getting your team connected to the virtual health and wellness they want anyway, could very well be the special sauce you seek to keep your team members happy, committed, and on the job!
CuramLife: Health Care Access, Guidance and Support
CuramLife presents packages of virtual health care and wellness that can help keep your employees healthy and happy, while also helping attract some top-notch new talent.
A happy employee who you have assigned a CuramLife health care package could very well be saving your company the $4,700 it would take to hire and train a new one!
Health care access without the high cost of health care:
As an employer offering CuramLife packages of health care and wellness access, your company now possesses a powerful tool and resource for employee retention, satisfaction, and overall business performance. By getting your employees access to health care and wellness programs, you can better keep your team happy, slash turnover costs, and attract the best hires out there.
And small business wants to do just that! Some 72% of small business owners and decision makers say they would be happy to offer their employees health benefits, if only they could be available at a lower cost. CuramLife can help you with that part, too!
Call the CuramLife team at 800-651-1237 or email discover@curamlife.com.
