High salaries alone are not enough to recruit and retain the best people. To stand out, companies are now looking at comprehensive benefits packages and group dental insurance is becoming a recruitment tool.
According to KFF, most companies offer dental insurance. In 2023, 90% of SMEs and 94% of large companies offered this benefit. Of those, 60% paid towards the cost of the cover for their employees. That’s a big commitment to making dental care easy and affordable for their people.
Providing great dental cover not only makes you more attractive but also shows you care about your people. In this article we’ll look at how group dental insurance can give your recruitment a big boost.
Recruitment Advantage of Comprehensive Dental Coverage
According to the U.S. Chamber of Commerce 96% of Americans consider health insurance a job benefit. Nearly twice as many said they would turn down a job offer if health insurance wasn’t included. That’s how important comprehensive health benefits are in job decisions.
So offering group health dental insurance can give you an edge in the recruitment process. Candidates look beyond salary to consider benefits that impact their overall wellbeing. A good dental plan shows your company cares about its people and the work environment.
According to HWP Insurance, partnering with a reputable insurer can make your dental cover even more attractive. Leading insurers have extensive plans with lots of services and competitive pricing. Choosing a well known insurer means your people get great care and you’re showing you care about their health and wellbeing.
This benefit will be especially attractive to candidates with families or those who put health and wellbeing first. You can attract candidates who want a comprehensive benefits package and are likely to stay long term by including this in job ads.
Employee Satisfaction and Retention
Gallup says employee retention is getting tougher and inaction will cost you big down the line. Replacing leaders and managers can cost up to 200% of their annual salary, technical specialists 80% and frontline staff 40%. Addressing these issues now will save your company a fortune.
Group dental insurance brings in new talent and helps retain current employees. When employees feel their health needs are being met they are more likely to be happy and loyal to their employer.
Dental benefits can reduce out of pocket expenses for routine care and unexpected dental issues, overall job satisfaction. You’re showing your commitment to your people’s long term wellbeing by giving this perk. This will improve their view of the company and reduce turnover.
Standing Out in a Competitive Job Market
CNBC says New York is a tough job market and high cost of living. Gulfport, Newark, Detroit, and Santa Clarita are other cities that are expensive for job seekers. These cities require strong benefits to attract and retain talent in an expensive living situation.
In a competitive job market, standing out from the pack is key to successful recruitment. Group dental insurance can be a differentiator that sets you apart from others offering similar jobs. Mention this in your recruitment materials and during the hiring process and your job offers will be more attractive.
And showcasing employee testimonials about the benefits of the dental plan can help reinforce its value. As more companies realize the importance of benefits, those that offer standout benefits like group dental insurance will be better positioned to attract the best talent.
FAQs
How does group dental insurance help with recruitment?
Group dental insurance adds to your recruitment strategy by offering a benefit that candidates want. It shows your company cares about employee health and wellbeing. Mention this in your job postings and attract candidates who value comprehensive benefits and increase your attractiveness in a competitive job market.
What are the cost savings of group dental insurance?
Group dental insurance reduces out-of-pocket expenses for routine and unexpected dental care. Companies can reduce employee turnover and recruitment costs by offering this benefit. Investing in dental coverage can be a cost effective way to increase job satisfaction and retention.
How do reputable insurance providers help with recruitment?
Working with well known insurance providers increases the appeal of your dental coverage. Leading insurers offer comprehensive plans at competitive rates so employees get high quality care. This enhances your company’s reputation as a good employer and makes your job offers more attractive in a competitive job market.
Group dental insurance is a magnet for attracting and retaining the best talent. Companies show they care about their employees and are more attractive in today’s job market by offering this benefit.
This looks after employee satisfaction and reduces turnover rates which means big cost savings. As the job market evolves, companies that prioritise comprehensive benefits will be ahead of the game in attracting and retaining the best.