Do you want to create a positive benefits experience for your employees? It’s not that complicated if you focus on three core areas.
Your benefits should reflect what your employees need. Companies who understand how important this is will survey employees periodically to see what should change. For example, if you have many public transit commuters, they’d probably like a break on their commuting costs by using commuter benefits.
Once you know what they want, it makes your job easier. Here are the next steps to make it a positive experience for your employees.
What do you offer?
It’s critical you offer the best health insurance. Health insurance routinely ranks at the top of employee benefits surveys. And even though companies are focusing on diversifying benefit offerings, about 45 percent said in a recent survey they were not increasing the employee share of health insurance.
If you’re competing for the best talent, something like employee health insurance costs could be the deciding factor in someone deciding on job offers.
While health insurance is essential, it’s not the only benefit employees want. More and more employees — especially younger ones — are attracted to “work perks” like student loan reimbursement initiatives and wellness programs.
Technology enhances the employee experience
Your employees are used to Amazon, Netflix and cloud-based Software-as-a-Service programs that make everything easy with just a few clicks. Those companies put a significant emphasis on user experience and you should too.
Benefits administration should use technology that makes it easy for your employees to do their research, understand your offers and enroll. You can also measure engagement with the right tech programs.
Since you want your employees to be actively engaged in the benefits process, you should make it as easy as possible for them. They should be able to access their profile easily, research or supporting materials, comparisons, claims info, etc.
A work perk that employees love
One work perk that employees love is commuter benefits. And businesses love it too because it helps them save up to 7.65 percent in payroll taxes.
Commuter benefits can save up to 40 percent in commuting costs for public transit, qualified parking and rideshares (Uber and Lyft).
Want to learn more? Download our 101 guide and see how commuter benefits work!
* Source: Gallup