Recruiting is a competitive exercise. A complex mix of factors goes into a job candidate's decision to choose one company over another, and any organization that is serious about getting a competitive edge by attracting top talent should look for every advantage that could tip the scales in its favor. One potentially overlooked tool is business health insurance.
It should be emphasized that even in a weak job market in which job seekers outnumber the available positions, it is important to keep up the effort of trying to attract talent. Indeed, when other firms are laying people off, the firm that is hiring can gain an advantage by having its pick of the candidates. Some positive recruiting techniques can help a company get the talent it wants.
The Eye of the Beholder: How Job Seekers Value a Group Health Insurance Plan
How does business health insurance fit into all this? To answer that question, it is important to understand just how differently a group health insurance plan is perceived by employers, employees, and job seekers.
To employers, the group health plan may be viewed as a necessary evil. It can be an administrative burden and a source of rising costs. It would be tough to get rid of, but only because employees have grown to expect it. All in all, it is easy for employers to view a group health plan as more of a liability than an asset.
As for the existing employees, they probably take the group health plan for granted. They use it regularly, depend on it for their health care needs, but only think about it if they have something to complain about.
Prospective employees, however, may view a group health plan in a far more positive light than the employer and current employees. Remember, some 46.3 million Americans are without health care, and thus potentially one illness away from financial catastrophe. This number has been rising, as more Americans lose their jobs and more employers discontinue health care benefits. So, from the point of view of someone who has been without health care coverage, or is in danger of losing that coverage, a prospective employer's group health plan could be a key motivation for wanting that job.
Pitching the Plan: Using a Group Health Plan as a Recruiting Tool
In light of this, employers should not neglect to feature their business health insurance in their recruiting efforts, from mentioning it in ads to making a point of it when extending an offer. Here are some possible ways to highlight a group health plan:
- Spell Out Plan Attributes. Plans tend to have different coverages, so it can be helpful to make a point of the strongest features of the company's plan. Those attributes may compare favorably with what the candidate has been used to in the past.
- Figure in the Company/Employee Cost Split. If the company pays for a generous portion of the premium, be sure to include this in any discussion of compensation.
- State the Positive. Even if the above are not selling points, be sure to positively state that the company has a group health plan. To someone who has been without insurance, just getting access to coverage may be enough of a selling point.
Sources