Five Best Benefits You Can Give to Your Senior Employees

September 3, 2022
CambridgeEntrepreneurAcademy

Five Best Benefits You Can Give to Your Senior Employees

Employee loyalty is becoming rare. It is estimated that the average tenure of employees is now just four years. That’s a drastic decrease from past decades when employees stayed with a company for an average of ten years.

There are many reasons for this shift. The economy is now more globalized, so people are more likely to move for better opportunities. And with the rise of the gig economy, more and more workers choose to freelance or contract work over traditional full-time employment.

But whatever the reasons, the trend is clear: employee loyalty is declining. This is why your senior employees deserve extra appreciation. They are the ones who have stuck with you through thick and thin, and they are an increasingly valuable commodity.

So what are the best benefits you can give to your senior employees? Here are five ideas:

Free Dental Care

Dental care is something that many companies tend to overlook. Many companies don’t know that dental care is related to productivity. A study by the University of Michigan found that people with dental problems are three times more likely to take days off work.

And it’s not just productivity that suffers. Dental problems can also lead to a decline in cognitive function. In one study, researchers found that people with gum disease were more likely to experience memory loss and cognitive decline.

Additionally, it can lead to self-esteem problems. Seniors are expected to lose most of their teeth when they reach 50, which can be a severe problem. These are some reasons you should offer them free dental care. Offering to pay for their dental implants is one way to go about it. It’s one of the most highly on-demand dental procedures, and it can help your employees feel better about themselves.

Transportation Assistance

Getting to and from work can be a challenge for seniors. They may not be able to drive or live in an area with limited public transportation options. This is where you can help.

A female senior employee working at home

You can offer them ridesharing credits so that they can take Uber or Lyft to and from work. You can also give them a stipend to help cover the cost of public transportation. If your employees live far away, you can even consider relocation assistance.

Flexible Scheduling

Flexible scheduling is one of the most popular benefits among all employees, but it’s essential for seniors. They may have family obligations or health problems that make it challenging to work traditional hours.

Allowing them to work from home or come in early/leave early can make a big difference in their lives. And it doesn’t have to be an all-or-nothing proposition. You can offer them flexible scheduling on an as-needed basis.

Paid Time Off

Paid time off is another popular benefit among all employees, but it’s essential for seniors. They may have family obligations or health problems that make it challenging to work traditional hours.

Allowing them to take paid time off when needed can make a big difference in their lives. And it doesn’t have to be an all-or-nothing proposition. You can offer them paid time off on an as-needed basis.

Insurance

Insurance is one of the most important benefits you can give senior employees. They are more likely to have health problems and may not have the same level of coverage as younger employees. Here are some essential insurance policies your senior employees need:

Health Insurance

As seniors age, they become more susceptible to health problems. This is why health insurance is so vital for them. Make sure that your health insurance plan covers their needs and that they can see the doctors they need.

Long-Term Care Insurance

Long-term care insurance helps cover the cost of long-term care, which is care that is not covered by traditional health insurance. This type of care can be expensive, so it’s essential to have this coverage in place.

Life Insurance

Life insurance is another essential policy for seniors. They may not have the same level of coverage as younger employees, and they may not have any coverage at all. This is why it’s so important to have this coverage in place.

These are just a few of your senior employees’ best insurance policies. These policies will help them stay healthy and protected, and they’ll be grateful to you.

These are just a few ideas for benefits you can give to your senior employees. If you want to keep them happy and productive, it’s essential to show them that you appreciate their loyalty and dedication. Giving them these benefits is a great way to do that.

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