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Proper Employee Benefits for the Position You Are Filling

August 15th, 2014

June 16

Offering an appropriate employee benefits package is a necessity if you want to recruit the best of today’s talent and keep them in your organization over the long term. And it is important to realize that benefits packages can and should include more than just medical coverage. Use these tips to better configure the benefits you are prepared to offer.

Health Insurance

Employers have two options when selecting a health insurance provider – traditional and managed. Traditional health insurance plans typically come with higher premiums but offer a wider selection of doctors and hospitals. Managed plans, by contrast, have lower premiums, but also fewer choices. Keeping your employees happy obliges you to find a plan that offers the widest array of benefits at the lowest cost to your employees, but that is often cost prohibitive for the business. You will have to scrutinize your finances to determine how much you are able to pay, and what level of health insurance benefits you can realistically offer. You can keep your costs down by adding a “wellness component” to your benefits package that encourages fitness and preventative medicine.

Retirement

Even with rising levels of career mobility, appealing recruits will be looking for retirement benefits. Most companies these days choose of to offer a 401K rather than a traditional pension. You can make these plans more appealing by offering matching contributions to the employee’s 401K. It is common for businesses to make a 3% contribution when an employee contributes 6% of his paycheck to his retirement plan, so consider offering a higher matching contribution. Again, it’s important that you scrutinize your finances before settling on an specific number. It’s not worth it to compromise the financial stability of your company just for the sake of recruitment.

Specialty Benefits

Specialty benefits include things like disability insurance, life insurance, and dental and vision coverage. This is one of the areas where you can really differentiate your benefits package from the package being offered by competing companies. Even if employees never or rarely take advantage of these benefits, it is a sign that the employer is making strides to cover them against any possible contingency, which is important for morale and loyalty. Most experts agree that disability insurance should cover at least 60% of an employee’s salary and that life insurance should pay out at least $20,000. You can increase these numbers to help your recruiting efforts, just make sure you educate potential employees about the details. There is a lot of information flying around during the recruitment process, and it is easy to overlook the details of a specialty benefits package.

Learn more about employee benefits and effectively recruiting the very best talent out there by working with the experts at the Concorde Group.

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5 Benefits of Hiring Temporary Employees

July 16th, 2014

creative-business-people-at-office

In the ever-evolving business world of the 21st century, traditional notions about staffing, recruitment, and employment are quickly becoming irrelevant. In addition to full and part-time workers, a growing number of companies is turning to temporary and contract workers to give their workforce the dynamism it requires.

Temporary employment is nothing new, but it is being used in ways that it never has before. Prestigious companies in a wide variety of industries are eager to add these professionals to their ranks, and their forward-thinking attitudes are paying off. These are some of the greatest benefits of hiring temporary employees:

Vet Potential Hires

If you need to fill a full or part-time position, consider hiring a temporary employee and carefully monitoring their performance. You make a much smaller commitment, but you still have the opportunity to analyze their fit for the job. No matter how carefully you vet a potential hire, no indicator is more revealing than his on-the-job performance.

Fill Gaps in Your Workforce

With an increasing number of highly-skilled workers becoming open to temporary employment, it’s easier than ever to fill a short-term gap in your workforce. That keeps your day to day operations running smoothly, and gives you the freedom to offer you permanent employees maternity and paternity leave, sick leave, or other extended absences.

Enhance Your Intellectual Capital

Lets say you get a new contract that requires you to work with a technology, process, or set of regulations that you are unfamiliar with. Specialized temporary employees can bring their expertise into your office for as long as you need it, and then move on when the contract or project is complete. That is much more cost-effective than permanently expanding your workforce.

Keep Your Costs in Check

We just mentioned cost effectiveness, and the simple fact is that temporary employees cost you a lot less in the long run than any other kind of employee. You only have to pay them for as long as they contribute value to your company, and you don’t have to offer them the same perks as more permanent employees.

Unburden You HR Department

The time and money you spend recruiting even a single employee is significant. Temporary employees, by contrast, are typically recruited by a third party and supplied to you based on criteria that you establish. You don’t have to dedicate resources to the recruitment process, but you still end up with exactly the employee you were looking for.

Temporary employees are more than just temps. They are a highly educated, impressively experienced, and unwaveringly professional part of today’s employment pool that can bring a lot of value to any company. To get expert help recruiting the very best of today’s temporary employees, work with the team at The Concorde Group.

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