During the developmental stages of a benefits program it’s essential to get the opinions of your employees through surveys and interviews. They know better than anyone the package that would most benefit them. Employee demographics will be highlighted during surveys and interviews. You may realize that the majority of your employees are young professionals and would greatly benefit from tuition assistance or your workforce has a large concentration of parents who need a more flexible work schedule. I would advise against basing your benefits program off of other businesses or external research alone, because there’s no one size fits all. Many studies haven’t even included Generation Z in their determinations of what benefits employees want most.
As with external communications, organizations need to focus on how well they promote and communicate internally too. You may have a wide range of benefits, but if employees don't regularly see them, have easy access to them, or are not hearing about the exciting changes or additions you're making, they won't get engaged. Ensure that details of all your benefits live in an easily accessible place within your digital workplace and that an enterprise search tool gives employees fast access to everything they need to know. This can take the pain out of searching for out of date or irrelevant information and increase engagement.
If employees are feeling undervalued or disengaged; first thing I would want to understand is, why? Consider surveying the employees for feedback related to their satisfactory levels and understanding of the current plan. From there, use the information to help determine where to make meaningful investments that best serve the company and employee population. Employers should also consider providing Total Compensation Statements so employees know the full value of what they offer.
Employee benefits can be a great way to stand out from other employers, but those same benefits are often forgotten once onboarding wraps up. I can’t tell you how many times I’ve witnessed professional development budget go unspent, wellness packages forgotten, or donations go unmatched. Work with team leaders to make sure individuals are taking advantage of benefits as part of their regular checkins, and plan HR-led benefit trainings throughout the year (lunch and learns can be great for this) to help the team understand how to personally leverage benefits. Where you can, reward the team publicly for using benefits, and partner with your executive team to model the behavior.
The absolute best way to engage employees and help them value their benefits is to truly educate them on their benefit options. In my field, many employees have voiced their opinions about how their employer handles open enrollment stating that the HR team either doesn’t take the time to properly educate them or they themselves have no true understanding of the benefit options being offered by the company, causing the majority of employees to choose the least expensive option. This will eventually lead to frustration when the employee realizes that their needs and that of their families are not properly covered. The key to enhancing employee experience starts within your organization’s HR team. Organizations need to properly train their HR team on the benefits being offered and how to effectively communicate those options, via webinars, emails, and benefit plan summaries, as well as being able to answer specific questions in a language that their employees can understand.
Employers must ensure that benefits meet the unique needs and experiences of their people. Many organizations are moving away from set benefits -- those typically offered such as fitness stipends and health insurance -- and instead offering employees choice through for example, annual stipends. For one example, a wellness stipend would serve as an opportunity to broaden the wellness experience and allow employees the opportunity to pursue wellness options that align with their needs. An annual stipend would allow employees to pursue practices and experiences value-additive to them including practices such as: retreats, monthly massages, spiritual counseling, art therapy, etc. This practice also allows for anonymity offering employees safety and propelling a sense of belonging.
One strategy is to provide employees with a total compensation statement. These help your team members quickly grasp the bigger picture of what you are providing them in easy-to-understand visuals such as pie charts and graphics. It summarizes the entire company offering - from benefits such as 401(k) to their total salary. Statements also create dialogue - if employees have questions or want to discuss the details with their HR team, the statements are a great starting point for ongoing communication. In all, it makes it easier to communicate the value of benefits - and more importantly - helps them understand everything your company offers, which keeps employees happy and improves retention.
In a more competitive, diverse job market, one-size-fits-all benefits packages don’t cut it anymore. Employers are enhancing their offerings with benefits personalized to the diversity of lifestyles, experiences and needs of their workforce in the pandemic era. These include offerings that recognize the increasingly diverse definitions of “family” such as LGBTQ+-friendly health benefits, as well as resources that alleviate the stressors of caregiving — which has created a higher risk for mental and physical health issues among individuals — and financial well-being benefits to help workers manage their money. HR professionals must address these and other changes with expanded benefit packages that support increasingly personalized needs.
Most employers are focused on the overall spend of benefits as it\'s usually their second highest expense. However, turnover and loss of productivity is higher. We have to think about what will make employees engage and feel loyal to their employer. Benefits have to be re-defined to speak to the various generations we are employing. We have to work towards creating a quality employee experience. In order to do that we have to modernized the offering. We have to look beyond the traditional benefit offering and give employees what they truly value. It can be things like backup childcare, a sabbatical, other form of rewards that speak to them. Everyone is offering traditional benefits but the employers that truly get it, know their employees and how to respond to their needs.
While it's absolutely necessary to provide all the core benefits demanded by law, throwing in cool perks like free snacks, office pool tables, stand-up desks, and office pets to the mix doesn't really stir as much interest as employers think. Organizations must make use of actual employee and candidate studies revealing that the only benefits workers really care about are your basics like healthcare, time-offs, sick days, 401k, and/or pension. Therefore, the focus must be on reinforcing these elements rather than simply adding more. The only ideal solution is customizable benefits packages -- no employee would ever undervalue or dismiss a benefits package that they collaborated to set up for themselves, specifically catered for their individual needs. This gives the company's benefits' an advantage found nowhere else, increasing morale and company loyalty, as well as effectively attracting competent talents.
Head of Customer Acquisition at MitoQ
Answered 4 years ago
Adding unlimited PTO to your plans and benefits is a great way to engage employees and enhance their experience. It gives them the opportunity to focus on their wellness and mental health. Unlimited PTO is the new normal for benefits from employers.
The "Great Reshuffle" continues into 2022 and competition for talent offers more flexibility and higher compensation. It's true that the majority of job-seekers are looking for work-life balance, though they're still seeking compensation and benefits as well. Employers are increasingly offering new and interesting flexibility/ balance/ wellness benefits, but focus less on traditional retirement and health benefits. Employees are less passionate about those traditional benefits, often because they don't fully understand how those benefits fit into their financial picture. Employers provide varying resources to educate workers on benefits, except the personal consultations that would really bring it all together. That financial wellness benefit should provide an impartial expert who will assist the employee in understanding retirement and health benefits in full, how to coordinate those benefits into their personal finances, and offer leadership some guidance on benefits for key talent.
To ensure that employees' benefit counts, we encourage open communication for dialogue. To build loyalty, employees should know who to communicate with on specific issues through technology or in person. They also need to know they can voice their true thoughts and feelings without negative repercussions, which means there should be a healthy dose of trust and respect throughout the workplace. With a free expression environment, employees can negotiate for benefits and inquire about monetary assistance openly because they're more willing to provide honest feedback. This allows the employer to find out the relevant changes needed to improve employees' experience.
Benefits should never be the reason for turnover. You can easily find out what your employees want by asking them – or taking a vote. Voting on benefits offered helps employees feel involved in how the company is run and gives them the agency to voice their needs. Instead of guessing, ask the employees what benefits are essential to them!
CEO Founder at Quiet Light
Answered 4 years ago
Stay interviews are a fantastic tool to help your organization increase retention, enhance employee experience, and gauge company culture. They are an open dialogue built on trust, and they encourage employees to offer suggestions and ideas to improve their experience. They are preferable to exit interviews because you gain insight into how to keep your employees while you still employ them. These interviews can also build trust and improve morale if you can implement meaningful changes after the interview. It's a great way to bring their motivations to light, and discover what keeps them interested. Your employees will feel empowered and part of the solution when asked how things are going. Employers who conduct stay interviews truly value their workers' opinions and genuinely want to implement changes that are needed to keep their best employees.
Flexible benefits give employees more of a choice in the benefits they are offered. Everyone has different needs and desires. So a certain benefit could be invaluable to one employee but useless to another. The more choice you can offer, the more your employees will value your benefits. Options included in a flexible benefits package could include gym memberships, private medical insurance, transportation expenses, personal development classes and childcare vouchers.
Employers so often hand their employees a benefit package and leave it at that. No explanation, no discussion, no clarification. This lack of specificity regarding benefits can lead to a misunderstanding of what is actually available to your employees. If your employees don't understand what benefits are available to them, how are they supposed to make an informed & confident decision come enrolment season. Make sure when creating your benefit package, you invest time in making it readable and accessible for all types of employees. This means having it available in multiple languages, larger fonts or even an informative video and digital version. Make sure information is available in all forms!
One of the best ways to create a more benefit-aware culture in the workplace is to include your employees when deciding on benefit packages. Instead of choosing a basic benefit package, send out surveys to your employees and ask for suggestions on what should be included. This shows employees that you value their opinions and wants, which leads to a more open and positive workplace environment. This also ensures that all employees are aware of what is actually included in the package, meaning there's less of a chance of misunderstanding and miscommunication regarding benefits. Remember, employee benefits are about the employees, so seeking feedback and input from your team is crucial.
The best way to enhance the employee experience when it comes to benefits is to simply and openly discuss company benefits and how to get the most out of them. Too often, company benefits are something that employees have to dig through a handbook to understand and sometimes, even when they do, the terms and verbiage are so vague and unhelpful that they end up with more questions than they had going in. By making company benefits a common conversation and one anyone in the company is comfortable having, you open the door to giving your employees the best experience possible, as well as the opportunity to get the most out of their packages without having to work extra for it. This practice can be as simple as including weekly reminders on how to best capitalize on benefits, or by simply letting your employees know that should they have any questions or concerns, they are more than welcome to ask.
Hi there, My name is Sam. I am the founder of Kenko Tea, an online tea store that sells matcha green tea from Japan. I have discovered that one of the best ways for employees to make the most of their benefits is to make them customisable. My employees are all given the same budget when it comes to benefits, but they can choose how to divide that budget. By allowing them to choose benefits that best suit them, you are enhancing the employee's experience.