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Help Your Restaurant Clients Retain Employees The pool of potential restaurant employees is shrinking. By 2006 there will be only one new employee entering the workforce for every two who are leaving.1 You may be able to help your restaurant-owner clients stem the high turnover rate by suggesting they add Select Benefits to their health insurance plan. Restaurants have large numbers of hourly and part-time employees. Select Benefits is designed to provide coverage for employees who might otherwise go without health benefits. In a survey, restaurant operators that offered basic health, dental or 401(k) benefits had average annual turnover rates 25% lower than their competitors that did not offer benefits.2 Studies in the restaurant business and other industries have shown that the higher the tenure of the workforce, the higher the sales per square foot and per employee.3 The addition of this limited benefit insurance product as part of a benefit package may help to motivate employees in choosing and staying with an employer. Instead of viewing employee benefits as operational expenses that weaken the bottom line, restaurant owners who view them as necessary investments may increase their profitability in the long run. 1People Report’s 2004 Annual Best Practices Conference 2People Report’s 2004 "Survey of Unit Employment Practices (sulep)" 3Hudson Riehle, NRA spokesperson as quoted in the press release at: http://www.peoplereport.com/newsclippings/QSRMagazineApril26.html
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Millions of uninsured equal sales opportunity Did you know 45 million Americans lack health insurance?1 With Symetra’s Select Benefits — a limited-benefit health insurance plan — you can help reduce the number of uninsured people while growing your business. Look for companies that have at least 51 full-time employees and large numbers of part-time, seasonal and temporary employees. Target markets include healthcare services, like nursing homes, and the hospitality sector, such as hotels, ski resorts and restaurants. 1U.S. Census Bureau, August 2004
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Overcoming Health Insurance Hurdles With Select Benefits, you can easily overcome employers’ top two key objections: (1) I can’t afford health insurance, (2) I don’t want the administration hassle. Employers choose only the benefits they can afford, and Symetra handles all administration so there is no additional charge for claims, customer service or billing. Select Benefits gives employers an edge by allowing them to provide life and health insurance benefits to employees who may not otherwise have the opportunity.1 1Select Benefits is not available in all states.
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Take the heartache out of providing health insurance According to a recent survey by the Council of Insurance Agents and Brokers (CIAB), 74 percent of medium-sized businesses (those with 51 to 500 employees) experienced rate increases of 10-30 percent for their employer-sponsored health care plans in 2002.1 Ask your business clients with 51 or more full-time employees if they are being forced to imagine the unthinkable: dropping health coverage altogether? Follow-up by asking if they: have already increased their employees’ maximum out-of-pocket expenses, require employees to share more of the costs. Then, offer to talk to them about Select Benefits, Symetra’s supplemental group life and health insurance program.2 1Employee Benefits Fall Market Survey, Council of Insurance Agents and Brokers, December 2002. 2Select Benefits is not available in all states.
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