In recent years, businesses have faced many difficult challenges. Many companies are on the verge of survival. In these difficult conditions one of the main factors of enterprise success and its profitability for the owners is qualified, motivated personnel. To find such specialists and motivate them for productive work is one of the main strategic tasks of company management. To solve such “personnel problems” in the most successful European and American companies use the possibility of life insurance of the personnel. How to get health insurance for my employees? What are the benefits of corporate life insurance for employees? This question can be considered both by the enterprise and the insured employee. And for each party the benefits will be different.
For the enterprise, first of all, it is a tool to work with the personnel. Minimal costs, optimization of unforeseen expenses on personnel, and effective schemes of motivation are the main reasons, which induce management to use corporate insurance for personnel. Let’s look at the main benefits of the company.
The benefits the enterprise receives
- Competitive advantages in hiring highly qualified specialists. Usually highly qualified specialists are quite demanding when choosing a new job. In addition to salary, the future employee is interested in many other aspects of your company’s offer. And not the last place in this list is the social package, which includes corporate life insurance of the employee.
- Increase of motivation of personnel, retention of valuable specialists. Hiring good specialists is only the beginning. They need to be motivated to work and not to look for the best employment options. To solve this problem there is such a tool as accumulative insurance of key employees. With each month worked, the value of your employee will increase, and at the end of the agreed time he will receive a large cash reward from the insurance company.
- Reducing turnover of highly skilled personnel. Staff turnover is a serious problem, which not only hinders the development of an enterprise, but also requires significant time spent on searching for, hiring and adapting new employees.
- Social payments to the employee and his family in case of an unforeseen event are made by the insurance company. Unforeseen events involving loss of capacity for work or even life of an employee are always a shock to the company. In addition, this situation also entails expenses for financial aid to the employee’s relatives from your company. Things are no easier if your employee’s family members have had life or health problems. All the employee’s thoughts will be on what happened and financial assistance from the insurance company is something that your employee will be very grateful to you for.