Consider These 3 Elements When Making The Decision To Offer Enhancement Benefits
When making the decision to provide accommodation and enhancement benefits consider these three elements.
First, in the long run, the cost of absenteeism and tardiness is usually much higher than offering accommodation and enhancement benefits overall. Programs that promote four particular objectives; the mental, physical, emotional and spiritual well-being of employees and family members all contribute to decreased absenteeism.
For example, we are seeing a tremendous rise in financial stress, stress in general and lifestyle diseases that all lend themselves to employees having dependent family members who rely upon them for care, or who are dealing with these DIS-EASE’s directly, necessitating absence from work.
Second, many employees are not sufficiently productive for a variety of health-related reasons, including, but not limited too, excessive smoking, high alcohol consumption and excess body weight. These lifestyle habits may reduce an employee’s stamina, clear thinking, motivation and may lead to lower job performance. Plus, health insurance companies are likely to charge substantially more for health care coverage when there has been a history of employees making insurance claims for serious ailments attributed to these lifestyle habits.
The right programs, professionals and experts can help employees uncover the root cause for the unwanted behavior thereby offering true solutions that foster a more cost effective comprehensive approach for improved results in employee mindset, culture, engagement, leadership and health.
The Third element, is an unlikely or often undiscussed one, tax benefits for employers and employees. In many cases, employers receive tax benefits for offering accommodation and enhancement benefits by deducting the costs as a normal business expense. Employees can often enjoy tax benefits for participation as well.
To maximize your employee benefits and for more information please contact Pamella Horton