Employees love to be taken care of – in fact, research suggests that workers’ benefits can be traced all the way back to the Golden Age of Piracy, where Caribbean pirates who fell injured in their dangerous trade would be compensated with shares of silver and gold pooled from their fellow uninjured buccaneers.

Closer to home, some companies may have their own form of booty in place – by providing some sort of financial compensation to an employee (or his/her beneficiaries) who is afflicted with critical illness or even death – the company usually offers this magnanimous health benefit straight from the company’s bowl of goodwill.

The Upside….
Most employers should consider providing insurance coverage for her employees to remain competitive with their rivals for the most talented employees. In addition, employers themselves also stand to gain from the advantage of less expensive health insurance when you consider the lower rate of premiums that come with purchasing insurance for a large group.

This gesture also suggests that the company cares for her employees’ welfare. In fact, some group insurance plans may offer supplementary riders – in effect, a form of preventative care to keep employees healthy and working. Without preventative care, employers might wind up having more employees out of the office than in it – and for long periods of time.

By: Deanna Bonaparte

See full story at community.jobscentral.com.sg