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Businesses are structured to make money. That's part of what defines success for a business. Company leaders strive to generate as much profit as possible by increasing revenue while decreasing costs.
It costs the company money to provide benefits to employees, such as insurance. And yet companies often provide health and dental insurance for their employees. They also pay for insurance to help employees who become injured or disabled.

Given the costs associated with insurance, why do companies provide insurance plans to employees?

Answer :

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Companies provide insurance plans to employees as a means of having  employee loyalty and retention.

What is insurance?

Insurance is a policy contract, in which an individual gets financial protection or compensation against losses from an insurance company. Insurance company pool clients' risks to make payments more affordable for the insured.

Companies provide insurance plans to employees as a means of having loyalty and retention. This is because offering group health insurance can help small businesses keep their top employees on a long term basis.

Also, companies provide insurance plans to employees in order to make medical coverage more accessible and affordable to their employees.

Therefore, companies provide insurance plans to employees as a means of having employee loyalty and retention.

Learn more about insurance here: https://brainly.com/question/2495777o

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