Creating a Better Employee Benefits Experience Can Build Better Employee Engagement
Quick Look: Continual attention and nurturing are necessary for anything to grow. And employee engagement is no different. When employees don’t feel supported at work, their engagement levels start to dwindle. Inevitably, motivation, productivity, and eventually retention rates all soon follow suit. Therefore, companies wanting to reach greater levels of success must focus on continued investment in delivering employee benefits which matter most.
Keeping employees happy and engaged is important now more than ever. There’s a tangible shift in the workforce as people are reprioritizing their commitments to provide a better quality of life. In addition to the high number of workers voluntarily resigning from their positions, job candidates and employees are more vocal in asking, what’s in it for me? The work exchange must feel fair.
Though there are mandatory benefits required of employers, offering the bare minimum does not elicit a maximum return from employees. So, with the numerous ways to build employee engagement, where to even begin? A good place to start is by creating a better employee benefits experience.
Benefits are part of what helps to recruit top-tier candidates and are also a main reason why employees stay with a company. Additionally, numerous studies show employee engagement results in greater productivity, improved quality of work, and overall increased profitability. Essentially, a win-win all around.
As a broker, reviewing and updating benefits plans and available employee benefit services with clients on a regular basis provides long-term value. To design a better experience for employees, here are key factors to keep in mind.
Establish a simplified benefits enrollment process
An intimidating enrollment process prevents employees from fully understanding or feeling comfortable in making an informed choice about their health care. Many times, people don’t understand the full scope of what their benefits include (or don’t include) and/or the benefits aren’t relevant to their current needs.
Brokers can help small- and medium-sized businesses (SMBs) break down the jargon and answer frequently asked questions by delivering the information in multiple ways. This may include email, in person, or a combination of both. And, rather than continuing with a one-size-fits-all type of model, tailoring health plan options encourages employees to feel more connected to the process. Offering plans with a more diverse network cultivates an inclusive environment where everyone has equal access to and can experience the value of what’s being offered.
Conduct employee satisfaction surveys
Employee satisfaction surveys are often used to gauge how employees feel in their roles as well as with the company as a whole. However, brokers can help clients put together employee satisfaction surveys specifically regarding benefits. Outdated benefits can make employees feel limited and take away from a company’s competitive advantage when recruiting new hires. Whereas surveys give employees a chance to share what’s working and what’s not and provide SMB leaders pertinent data needed to make changes.
Align benefits with modern-day needs
As companies grow and evolve, so do their employees, which means employees often seek different benefits at different stages of life. A benefits program which accounts for these changes can deliver a greater sense of value and motivate employees to become more invested.
The pandemic presents the most recent example of how perspectives have changed for SMB leaders and their employees. Benefits which were relevant a few years ago may not hold the same weight today. In recent months, there’s been an increased call for better childcare benefits, continuing education and professional development, and flexible work schedules.
Health benefits, paid time off, and 401K contributions are the baseline of what most employees look for today. Personalization is part of what’ll keep companies competitive. Any resistance to updating or evolving these offerings will only limit employers’ ability to hire and retain the best.
Implement advanced technology
Advanced technology is necessary for employees to feel they’re able to perform their jobs as necessary. Virtual meetings, online conferences, and digital education platforms all cater to employee and company growth. Meanwhile, technology also streamlines the benefits process for SMB leaders.
When advising clients on a comprehensive employee benefit services solution, it’s best to connect with one supported by technology which simplifies the process. By automatically updating employee changes, such as new addresses, name changes, the addition of dependents, etc., into an integrated software system, it limits delays and problems employees face when seeking health care or using their benefits. Technology allows employees to better manage and view their data, making engagement convenient and increasingly beneficial for them.
Partner with a PEO company
Business growth and employee retention go hand-in-hand, each requiring full-time dedication and hands-on implementation. Making quality time for both is an ongoing challenge. However, by partnering with a professional employer organization (PEO) like ExtensisHR, brokers can strengthen their client relations by allowing them to delegate what’s necessary to retain and recruit the best employees.
With a suite of employee benefit services designed to build employee engagement, as well as support company growth, it delivers the essential need of today’s SMB leaders. A PEO solution includes fully integrated HR, benefits, payroll, compliance services, and more, with cost-effectiveness and performance metrics in mind.
Our team of HR experts manages the time and resources to plan, communicate, and deliver an optimal employee benefits experience.
Ready to help promote greater value for your clients through PEO? Contact us today.
