Richard W. Shelton Insurance Marketing, Inc

Providing small business health insurance can show your employees that their health is important to you. By offering a group health plan as an employee benefit, you can demonstrate that you value your employees and view them as an asset to your organization. This appreciation, in turn, could help to promote a positive and healthy company culture. Beyond improving company culture and employee morale, another beneficial effect of a group health plan may be greater attention to ...wellness. Offering group health coverage could be a starting point for workplace wellness programs or similar initiatives designed to incentivize and encourage healthier lifestyle choices among employees. Whether a small business formally decides to implement a wellness program or a less formal initiative to address employee health, small business health insurance may serve as an excellent starting point for encouraging a positive company culture that promotes health and well-being. We can help. Your Shelton Insurance Team

When employees have group health insurance, they gain greater access to medical resources. For a small business, providing employees with the peace of mind that comes from health insurance can mean less sick days and absences and more productive and focused workers. Reduced workplace absenteeism According to a study by the Journal of Occupational and Environmental Medicine, having health insurance any time throughout the year is significantly associated with a lower likel...ihood and reduced number of missed workdays. More productive workplaces Generally, healthy employees tend to work more effectively and efficiently than employees who are ill. A working paper about the manufacturing industry by researchers from the Center for Economic Studies provided evidence that health insurance offers may be positively associated with labor productivity. Reduced labor costs According to an article from the peer-reviewed healthcare journal Milbank Quarterly, another benefit to employers from having healthier workers may also be lower labor costs: unhealthy workers may retire or quit early, which could lead to expensive employee turnover. The article also mentions how short-term and long-term disability insurance and workers’ compensation costs might also be reduced as a result of healthier employees. Healthier, more productive employees is another great reason to offer that group health insurance plan! Your Shelton Insurance Team

Another great reason to offer small business health insurance is that it may play a significant role in helping maintain or increase employee job satisfaction. According to a Glassdoor Economic Research survey, out of a list of 54 employee benefits, the following three basic employee benefits displayed the highest correlation with employee satisfaction: 1. Health insurance 2. Vacation/paid time off (PTO) 3. Retirement planning options like 401(k)s and pensions... Health insurance coverage came out as the number one benefit related to keeping employees satisfied, and it’s not surprising given its popularity as an employment perk. We are here to help you set up that small business health insurance plan. Give us a call. Your Shelton Insurance Team

Support Small Business Saturday! As we are all navigating through uncharted territory during this unprecedented time, small businesses, like ourselves, are feeling a significant impact. If you are in a position to do so, please consider supporting these small businesses by online shopping, delivery or take out and purchasing gift cards, etc. anything you can do to help. ... This is also a perfect time to show your support for essential workers, medical professionals, first responders, and any other heros in your life who don’t have the luxury of working from home! Give twice the support and appreciation by sending a little something their way! We hope you’ll join us in standing by our community and shopping small and local! Your Shelton Insurance Team

Why have a Small Business Health Insurance Plan? One reason is to encourage employee loyalty and retention! Employee loyalty is often an extremely important consideration for a small business, and offering small business health insurance may be an effective way to help retain your company’s quality workers.... Not only can a group health plan demonstrate that you are offering employees what they are worth; it can also encourage your workers to stay with your company in the long term. Salary increases may not be the only way to retain your current employees. According to a 2015 Glassdoor survey, nearly 4 in 5 (or 79 percent) of employees would prefer benefits or perks more than a pay raise, with 40 percent valuing health insurance benefits higher than a raise. Turnover costs are a significant expense for small businesses You may be wondering if retention is even really important for your small business. There’s plenty of quality workers out there who can replace employees that quit, right? Unfortunately, it is typically not that easy. Given the time and cost required to train new employees, as well as the challenge of finding workers who are the right fit for your business, it may be worthwhile to prioritize employee loyalty. According to an article by a leading human resources (HR) analyst at the accounting firm Deloitte, the total costs of losing an employee to turnover can be considerable, including the: - Cost of hiring, onboarding, and training new workers - Loss of productivity and engagement - Possibility of customer service errors - Often negative cultural impact to the organization Employers often deal with significant expenses as a result of employee turnover. For instance, a Center for American Progress report found that, based on an analysis of 30 case studies in 11 research papers published between 1992 and 2007 which provided estimates of turnover costs, businesses spend about one-fifth (or about 21 percent) of a worker’s annual salary to replace that employee. Small business health insurance may help improve employee retention. Turnover costs are a real concern for small businesses. The good news is that group health insurance can be an effective way to promote employee retention. A survey of U.S. workers by Willis Towers Watson, a multinational insurance advisory company, found that: - 46 percent of worker respondents agreed that health benefits were an important factor in their decision to work for their employer. - 55 percent of worker respondents considered the health benefits they were offered a good reason to keep working for their employer. Generally, when workers have group health insurance, they may stay at their current jobs longer in order to retain their employee benefits. This creates a win for both employers and employees! Ready to set up a small business health insurance plan? We can help. Your Shelton Insurance Team

Why have a Small Business Health Insurance Plan? One great reason is to improve hiring and recruiting. A good benefits package can appeal to both new hires and current employees alike. Deciding to offer small business health insurance can serve as an essential part of an effective hiring strategy, and can help a company stand out as an employer of choice. Many workers value employee benefits like health insurance... Several studies have shown that whether health insurance and other employee benefits are offered as part of a compensation package may often make or break a job offer for a prospective hire. For instance: A 2017 LendingTree survey found that 33 percent of people have turned down a job due to a lack of benefits, and that over 32 percent of Americans would like to have improvements in their health insurance coverage. A 2015 Glassdoor survey observed that 57 percent of U.S. job candidates said that benefits and perks are among their top considerations before accepting a job. A 2016 survey by Fractl, a content marketing agency featured by the Harvard Business Review, noted that 88 percent of respondents said that being offered health insurance might tip them toward choosing a lower-paying job with better benefits over a high-paying job. Making health insurance part of worker compensation may help to create a robust and compelling employee benefits package that can have broad and lasting appeal to future hires and current employees alike. Interested in looking into a health insurance plan for your small business? We are here to help. Your Shelton Insurance Team