You can draw a different crowd of employees to your business if you’re willing to offer unique perks. Many of these perks can prove to be beneficial when they extend into retirement. By offering the best benefits and wages, you can set your company apart and attract high-quality employees. The more you care about your employees’ futures, the more they will care about the future of the company. But don’t assume your retirement offerings have to end with the typical offerings. Here are just a few of the retirement benefits that you can offer that will set your business apart.
Continuing Health Insurance
Many people worry about how they’ll be able to afford health insurance once they retire. Offering your employees the opportunity to stay on your health insurance plan once they retire is one solution to this dilemma. A discounted rate on insurance may be something that’s seen as a high value benefit and will allow you to draw from a larger pool of applicants. As people age, their health often worsens, which can make it more difficult to qualify for health insurance. By being willing to keep them on your health insurance plans, you send your employees the message that you care about their well-being long after they stop working for you, which in turn affects their willingness to stay with your company.
Financial Wellness Assistance
Having access to a financial advisor is good for all of your employees. It can better help them to plan and save for the future. Continuing this benefit once they retire can ensure that your employees are able to make ends meet and learn about prudent ways to handle their money after they cease to have a monthly paycheck. Using an advisor that’s affiliated with your company’s retirement plan may offer you some discounted fees as well.
Long-term Care Solutions
Long-term care options is something that some insurance plans offer. This can be seen as a plus for your employees as they start to get older. Another step in that direction is to establish a relationship with retirement communities in your area. This will give your employees an option if they aren’t able to live independently anymore. This shows your employees that you reward their loyalty to you with care and respect after they retire.
Pensions aren’t as prevalent of a perk that’s offered by employers in this day and age. Giving your employees the option of enrolling in a pension program can help to alleviate some of the stress that they may be experiencing around the idea of retirement. A steady source of income is always a good thing for everyone. Having a matching 401k plan available as well is another option that will make you more attractive. It shows your employees that you are willing to put money towards their retirement as a reward for their steady years of work.
Profit Sharing Plans
Another idea of a unique perk is that you offer a profit sharing program. This could provide you with employees that will work harder because it will benefit them in the long run. For those essential employees, you might want to consider keeping them on as consultants. This will allow you to keep the wealth of knowledge that you’ve built up in your company. These sorts of plans help your employees know that you valued what they provided to your company, which instills a personal ownership and sense of pride in your business.
Offering a unique set of retirement perks may help you with your employee attraction and retention efforts. Use these ideas to help you in your business pursuits. By showing your employees that you care for their future, you will retain employees who care for your business in the present.
This post is from Brooke Chaplan, a freelance writer and blogger. She lives and works out of her home in Los Lunas, New Mexico. She loves the outdoors and spends most of her time hiking, biking, and gardening. For more information, contact Brooke via Facebook at facebook.com/brooke.chaplan or Twitter @BrookeChaplan