Benefits Matter at Every Level
December 19, 2018 • by Megan Hoover
Since the Enactment of ACA, the landscape of total compensation has changed for hourly employees. In 2015, HTI started offering ACA compliant insurance to our hourly associates.
Prior to that, HTI was offering a plan that was totally voluntary to our contingent workforce. As a result of offering benefit plans, we have seen the following:
- Retention improves by 60% in the group of those who elect coverage with us
- Associates look more at total compensation, not just wage
- Reduced turnover leads to efficiency improvements
To follow the law, there are certain standards that must be upheld when selecting medical plans for benefits and insurance provided. Often, companies will choose a plan that covers the bare minimum as their only offering. HTI has chosen to offer 3 plans for our hourly associates to choose from. One that is a slimmer, more cost conservative plan and two that offer more coverage for families. Some extra offerings include dental, vision, accident insurance, critical illness, life insurance and an indemnity plan. HTI offers insurance that is valuable to the employee and not just our company.
A key feature of our benefit packages is Teladoc. It is completely free for our hourly employees and available 365 days a year, 24 hours a day. It makes sense to use Teladoc’s services first, so you don’t have to leave your house, or worry about the logistics of setting up an appointment and possibly missing work. It’s extremely likely they can diagnose and prescribe something to fix you right away. According to their website, 92% of issues are resolved after the first visit. I’ve used the service myself for my daughter and we were able to switch to facetime, so they could diagnose her stomach pain. She has a history of kidney stones. I was pleased they answered very quickly, and I found the service helpful during a stressful time.
We also offer our hourly employees 401K which is not a very common practice in staffing agencies. HTI offers associates the same matching criteria as our salaried, internal employees. So, once they’ve been with us the quarter following one year, HTI will match their contributions to their 401K up to 3%. Furthermore, we offer paid holidays and bereavement of up to 3 days paid leave for qualified employees.
Hidden Cost Savings for Organizations
HTI offering insurance options for our associates ensures our clients are within compliance of state and HR laws as well. Working with a 3rd party to recruit or staff part of your workforce means if there is an error and a subsequent fine, that work site would also be affected. With our benefit structure, that risk is eliminated.
Do you consider a job without benefits? At HTI, we believe everyone deserves benefits that offer protection and proper care for our associates and their families. The advantages of offering benefits speak for themselves when it comes to the employee and the organization. It’s *mutually beneficial* (pun intended).