Why Companies Should Offer Short Term Disability Insurance

As your company grows, it makes sense to re-assess your employees’ compensation packages. Now that your company is more established, you may want to start thinking about offering more extensive benefits. One benefit your employees may appreciate is short-term disability insurance.
Here’s what you need to know about this valuable benefit.
How This Insurance Works
No one wants to get ill or injured, but sometimes it happens. In this situation, employees may become temporarily unable to work. While they’re recovering at home, they won’t have any income coming in. This can add stress at an already difficult time.
Short-term disability insurance helps protect employees in this situation. When employees become unable to perform their job duties,
If possible, they’ll return to their original jobs. If that’s not possible, they could take modified or different jobs in the same workplace. Some employees won’t be able to return to work.
Why Companies Should Offer Short-Term Disability Insurance
Offering this type of insurance has obvious benefits for your employees. If employees become ill or injured and can’t come to work for weeks or months, they’ll receive a portion of their incomes while they recover. This helps them focus on their recoveries and feel less stressed.
Employees don’t have to actually get ill or injured to benefit from this coverage. Just knowing the coverage is there if they ever need it can provide valuable peace of mind. Instead of worrying about what would happen if they ever got seriously injured, they can simply know they’ll be taken care of.
By offering short-term disability insurance as part of your compensation package, you can increase total compensation. Higher total compensation helps you stay competitive since it can encourage top job candidates to choose your company over your competitors.
When to Start Offering Short-Term Disability