When companies contact The Medical Link, they often want to know exactly how working with a PEO can help their company succeed. After all, many of these managers and owners postulate, wouldn’t it be cheaper and easier just to keep these processes in house? The fact is, many NYC companies are only thinking about the immediate, tangible advantages, like the fact they won’t have to worry about paying separate people to run payroll, conduct HR compliance seminars, or manage insurance claims. However, there are even greater employee benefits at play here. Thanks to the broader benefit offerings that are possible through a PEO, working with The Medical Link to select the right PEO can actually help you improve retention rates at your company.
Health Insurance
In 2014, the Society for Human Resource Management (SHRM) found that healthcare is the top benefit leveraged by organizations to recruit and retain employees. A full 85 percent of the human resource managers surveyed at the time said that they leveraged health insurance packages to attract new employees, while 74 percent depended on their health insurance packages to retain existing employees. If you’re not offering insurance, or the insurance you’re offering is inferior to other companies, it’s even harder to keep employees on your payroll. With the help of The Medical Link, you’ll have access to the best of the PEO’s and the biggest insurance companies in the business, offering plans that might not otherwise be available to a company of your size.
Retirement Savings and Financial Planning
The same SHRM survey found that retirement savings benefits and financial planning services offered by a company also had a big impact on whether or not employees were willing to stick around. According to the research, 72 percent of human resource managers surveyed said that they relied on retirement savings/planning benefits to attract new talent, while a full 62 percent said that retirement savings/planning benefits were instrumental in retaining veteran employees. The Medical Link specializes in making it possible for businesses to offer attractive retirement savings plans and professional financial planning services to their employees. When employees feel that their future is secure, they’re less likely to think about moving to another job.
Want to learn more about how The Medical Link is helping companies to retain their top talent and achieve new goals? Contact us today.
