Question

For a business owner, insurance is a cost just like any other expenses. How does buying business

insurance and offering insurance to employees affect the business's profit and success?

Answer 1

It adds an additional expense which means a percentage of profits are depleted. However, it contributes to the wellbeing of the employees showing that they are cherished and have the opportunity to earn benefits which can play a role in motivating them. Due to this it is more likely the workforce would be more comfortable working for the organisation thus leading to a higher chance at success.