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Win-Win For Businesses
By Chajuan Fitzgerald
John Fitzgerald Investors
Many businesses are looking at how to cut expenses in today’s economy. “Reducing business expenses is not just a matter of slashing cash outflows indiscriminately. To reduce business costs without negatively impacting your ability to service customer needs, it’s important to take a considerate and methodical approach. Analyze and target specific expenses that can be reduced, and identify efficiencies that make each dollar go a bit further. This will both reduce your company’s expenses and offer more opportunities to increase your overall profitability.” (Sharrieff, “How to Reduce Business Expenses”, smallbusiness.chron.com)
In addition to cutting expenses, businesses are also looking to reduce their liabilities, retain quality workers, hire dependable labor, reduce internal administration, and increase productivity. Businesses are essentially looking to do more with less. A unique business model has been created to help companies. It’s helped clients contain their escalating employee overhead cost, reduce and remove some of the liabilities of having employees, and has given clients greater control over their business. It assist in improving their workforce, providing administrative relief, and developing improved business protection strategies which include risk mitigation and employer assistance with Employee related issues.
While offering businesses the opportunity to save money, this unique business model also offers businesses the ability to increase employee benefits. The lack of employee benefits cost businesses thousands of dollars each year. The cost of turnover includes hiring cost, training cost, and loss of productivity. The cost of turnover has been estimated to be 25% of the average employee salary, or $5,000 (nobscot.com). "While employee retention is a major benefits objective for employers, controlling costs is a close second," says Ronald Leopold, MetLife vice president. "The strong relationship between benefits satisfaction and job satisfaction indicates that there is more pressure than ever on employers to strike this balance and utilize benefits strategically to achieve both objectives." (“Employee Retention Emerges as Top Consideration in Benefits Strategies”, hr.blr.com) Businesses are able to offer both benefit and retirement options to their employees through this business model.
Take the next step in gaining greater control over your business. Make an appointment to get a no obligation, free quote today by calling Chajuan Fitzgerald @ 615-538-8534 or emailing info@jfibenefits.com.
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