By Alissa Gavrilescu on Jul 31, 2017 9:00:00 AM
Employers interested in attracting new talent are no doubt looking to millennials. And it’s no wonder – millennials are now the largest living generation in the nation and they will make up 50 percent of the workforce by 2020. They are also mostly in the beginning stages of their careers, with the age range of 20-36.
But attracting millennials may not be all about salary.
A recent survey showed that 35 percent of millennials turned down a job due to dissatisfaction with the benefit offerings. And we know that dental insurance is the most requested employer benefit after medical so if dental benefits are not part of an employee benefits package, it’s time to consider adding them. Read on to learn why companies need dental benefits.
Insurance brokers, it’s critical to talk to your groups about the necessity of dental benefits for their employees.
Why is dental such an integral part of a group’s benefit package?
Attract and Retain Top Talent
According to the American Dental Association, dental benefits are one of the top options employees ask for. In fact, they rank third as the most important. With millennials being more conscientious about money than the previous generation, it’s an important benefit to offer. Benefits that help employees combat income loss due to illness make employers more attractive and more likely to grow with an organization.
Lower Medical Claims
85 percent of millennials have tooth decay according to a recent ADA study. Routine dental checkups are an effective means of early prevention of healthcare concerns and periodontal disease can lead to - or worsen - health conditions such as coronary artery disease, oral cancer, preterm birth and diabetes. Diagnosing, managing and treating medical conditions through routine oral health care can result in lower claims costs by reducing the amount of care needed. In turn, this can help employers save more money over time in reduced medical premiums.
Good oral health reduces the impact of medical conditions. Having dental care encourages employees to seek treatment at the first signs something is amiss. By catching dental and medical conditions early, employees are less likely to be absent for long periods of time.
By giving employees peace of mind when it comes to complete healthcare, employers are also ensuring a more productive workplace. Happier employees lead to lower turnover in the workplace which gives employers peace of mind, as well.
Big Bang for Little Bucks
Studies show that millennials want their benefits to be affordable while also offering quality services. When it comes to recruiting and hiring millennials, dental benefits fit the bill.
Group dental benefits are affordable, costing roughly 1/12 of medical premiums. Did you know: a dental policy costs for a year what a medical policy does for a month. And, dental benefit premiums have remained stable over the past five years so it’s a great long-term investment for an organization.
Dental benefits can be a great tool for your groups to attract and retain high quality millennial candidates by making their organizations stand out from the crowd.