Company management teams would do well to think of Benefits as a bonus paycheck badly in need of a route to an employee’s bank account. Health Benefits Consultants will agree that solid communication regarding Benefits can meet the needs of valued employees while persuading them to stick around for that bonus.
An inexpensive Benefit that can be provided to employees can be presented in the form of a navigation system that will guide them in making a host of decisions about everything from wellness programs to 401(k) options and Consumer Directed Health Plans. Consumer Directed Health Plans require employees to make a series of critical decisions, fraught with long-term implications, about their health care. Your company’s expert Health Benefits Consultant will advise that offering better education about company Benefits will result in increased productivity and loyalty as workers place a premium on their Benefit Packages.
Benefits often become part of a company’s non performing asset because they aren’t being properly used to foster employee loyalty. Talk to your Health Benefits Consultant about packaging your company’s Benefits with useful, user friendly, instructions. Employees want more communication.
With the complexity of 401(k) plans, management teams have found themselves in the uncomfortable and time consuming position of having to educate employees about all aspects of saving for their retirement. Some HR Staff simply hand out brochures that praise the benefits of compounding while talking about inconceivable investment balances and then the workers are expected to take the reins from there. Or the opposite is true. Some HR department staff will deliver truckloads of information that cannot possibly be comprehended because the eyes have glazed over and the employee is absolutely overwhelmed. None of this is educational or productive.
If your company has decided to provide a website dedicated to employee Benefit information discuss this approach with your professional Health Benefits Consultant. Even a great website may not be enough to meet the Benefit requirements of all company employees. There is a great demand for individualized education. Employees want to ask specific questions and receive useful answers. Many companies now dole out data in small segments usually via email blasts and podcasts or monthly intranet postings and sometimes online animated characters. Some companies will set up confabs for specialized demographic groups where the lunch hour becomes a session on retirement planning for those who are approaching this time of life. Your Health Benefits Consultant can assist your HR team with target mailings to demographic groups. Narrowing the focus becomes a better way to reach people. If the subject is about the worker’s particular needs it will become an attention grabber.
Participation in Benefits raises employee retention rates. Participation is a sign that employees are connected with the organization. Make sure your company’s Benefits are a performing asset that is positively affecting your bottom line.
Article courtesy of Benefit Consultants