In an employee-driven economy, businesses became fierce in competing for talent. Benefits, perks, and one-time bonuses were the best for attracting new hires and retaining current staff. If companies are competing for talent, one incentive is offering part-time employees benefits. Due to our current health crisis, because of COVID-19, employers should explore options on how to provide health insurance to as many of their employees as possible.
Small or medium-sized businesses that haven’t extended benefits to part-time workers but plan to in the future should weigh out their options when it comes to covering their entire workforce. The process starts with knowing what benefits your employees want most, are willing to buy or cost-share, and whether full-time and part-time employees should receive the same options.
For most employees, money remains one of the biggest motivators and indicators of job satisfaction. However, other incentives are running very close in second. Benefits that many workers want are health, dental, and vision insurance, paid time off, and a retirement savings account.
Employers generally have control over what type of benefits they offer to their employees unless their state laws indicate otherwise, so make sure to review the laws applicable to your location. Employers don’t have to provide their full and part-time employees the same benefits. Some laws specify how benefits should be handled for both full and part-time workers.
If you would like more information on getting coverage for your business, give us a call at 732-363-3888 to speak with a broker directly. We will guide you through the process and make sure you are staying compliant.
Cosmo Insurance Agency is a full-service independent insurance agency based in Hackensack (Bergen County) and Lakewood (Ocean County), New Jersey that offers an all-encompassing range of insurance options for both individuals and businesses. Cosmo keeps its promise to assure an efficient and creative approach to the services we offer. Each of our clients experience a personalized and long-term relationship with us. Our New Jersey based team of health brokers guides our clients in helping them choose the most cost-effective options. By incorporating our knowledge of the insurance guidelines for healthcare, employee benefits, life insurance, self-insurance, dental, disability, and long term care insurance, we keep our clients up-to-date with affordable plans that cover all their specific insurance needs.
