Why It’s Important to Provide Your Employees Competitive Benefits Beyond Medical in Maryland 

Maryland’s proximity to Washington, D.C., its strong health care and biotech sectors, and its growing remote-friendly workforce mean employees have options. When candidates compare job offers, benefits often become the deciding factor. A robust benefits package signals that your organization values its people as individuals with long-term needs.

Turnover is expensive, especially in Maryland, where specialized roles can take time to fill. Competitive benefits help reduce turnover by increasing employee satisfaction, strengthening loyalty, reducing burnout and supporting long-term financial and personal well-being.

Key Benefits Maryland Employers Should Consider Beyond Medical

Maryland employers often consider the following when designing a benefits plan:

• Retirement benefits, such as 401(k) plans with employer matching, are among the most valued benefits nationwide and demonstrate a long-term commitment to employees’ financial futures.
• Wellness programs can include mental health support, fitness reimbursements, stressmanagement resources and nutrition programs.
• Life and disability insurance to provide financial protection for employees and their families in the event of unexpected illness, injury, or loss.
• Flexible spending accounts (FSAs) and health savings accounts (HSAs) allow employees to set aside pre-tax dollars for medical, dental, and dependentcare expenses.
• Paid time off (PTO) and flexible scheduling, which support work-life balance and help reduce burnout
• Professional development benefits, including tuition assistance, certifications and training programs that help employees grow and stay engaged.
• Voluntary benefits, such as vision, dental and pet insurance, legal assistance plans or identitytheft protection, which add value at little or no cost to the employer.

Competitive Benefits Provide a Strategic Advantage

A well-rounded benefits package helps you attract top talent, retain your best employees, improve workplace satisfaction, boost productivity and strengthen your company culture. Investing in your employees’ well-being is one of the most effective ways to invest in your business.

Ready to Strengthen Your Employee Benefits Strategy?

Lyceum Insurance Services partners with Maryland businesses to design competitive, cost-effective benefits packages tailored to your workforce.

Contact us to explore your options or request a consultation today.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.