How Voluntary Benefits Can Help Recruitment and Retention Efforts - December 2022

Mon, Dec 12, 2022 at 8:00AM

Corey Slavik, Property and Casualty Advisor, HUB International

Traditionally, employee benefits for construction workers, including roofers, have not kept pace with those offered in other industries.

In recent years, construction employers have stepped up with health benefits: some 74 percent now offer them, higher than the 69 percent national average for all employees. But only 29 percent offer short-term disability insurance and 17 percent longterm – both below average and paid family leave is only provided by 11 percent, versus the 20 percent national average.

Given the ongoing and increasingly pressing challenge of finding employees to meet the current workload and the shortfall of people as the construction workforce ages, roofing companies should consider benefit options that go beyond industry standards. One option is to take a look at voluntary benefits.

Why Voluntary Benefits are a Good Bet

Benefits that go beyond the “expected” health, dental, vision and a nominal life policy are prized by employees. Three-fourths of workers in one survey said voluntary benefits would make a difference in their decision to stay with their employers.

And employers are seeing the payoff of offering them even beyond recruitment and retention success. Employers also believe, the survey found, that adding to their voluntary benefits lineup will save employees money (63 percent) and ultimately, boost productivity (53 percent).

Even better, many of the most sought-after types of voluntary benefits won’t necessarily add to the employer’s costs. When offered under the employer’s umbrella, typically at group rates, they still cost employees half of what they would if purchased directly. Plus, employees have more confidence in benefits that first have been vetted by employers.

A Wide Variety of Choices

There is a fast-growing universe of voluntary benefits to add to the package, from those that support physical, emotional and financial wellness to those that help individuals advance professionally. Read more.

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