Benefits are no longer a want for this generation of workers—they’re a need. Whether or not you offer the right benefits can make or break your workforce. Offering attractive yet pragmatic benefit plan can have a positive impact on employees’ lives, as well as how they feel about your organization. Offering premium benefit options and communicating them with your workforce properly are both essential pieces to the puzzle of employee retention.
Types of Benefits to Offer
Typical benefits like health coverage and paid sick leave have always been essential. But now, ancillary perks like flexible work schedules, remote opportunities, and generous paid leave policies are becoming more commonplace and are great ways to attract top talent and earn their loyalty for years to come.
Communication
Education paired with two-way communication are essential to providing high-quality employee benefits. It’s one thing to choose the right benefits that will suit your employees—it’s another to ensure they have the right information to help them make big decisions and the resources to answer their questions.
It’s important to consider the experience your employees are having when interacting with their benefits programs. In general, employees prefer to manage their benefits in the same way they access information in their personal lives; so a variety of communication options is key, but keep in mind common trends like digital prevailing over paper communications.
How Benefits Create Loyalty
There’s no denying that emotion plays a major role in the benefits an employer chooses to provide to their employees, as well as the benefits those employees choose to utilize. They have a direct impact on the personal lives of your employees, so providing the right benefits is essential to promoting loyalty among your workforce. Choosing benefits that can help improve your workers’ lives will show that you care about them beyond their performance in the office.
It’s also important to give employees easy access to their benefits and provide the necessary decision support tools to utilize those benefits properly. According to the recent Thomsons Online Benefits Global Employee Benefits Watch report, “77% of employees who understood the benefits on offer said they saw themselves at their organization for the foreseeable future.”
Allowing your employees more freedom with their benefits packages tends to create an important relationship, and they’ll be more likely to feel like they align with the company’s values and overall vision. That’s the core element of employee retention—when your employees’ values align with your company’s, allowing employees to really become invested in their work.
Clarity Benefit Solutions can help you provide the best possible benefits experience for your employees. Learn more today.
Sources:
https://www.employeebenefitadviser.com/opinion/the-right-benefits-can-drive-employee-retention
https://www.cio.com/article/2868419/careers-staffing/how-to-improve-employee-retention.html
