Employee benefits programs are a critical component to compensation, so don’t you want to make sure it works for your staff?
Read: 4 Ways to Keep Employees Using Benefits
Finding a benefits program that works for all of your workers can be a challenge, especially given their constantly changing needs.
Here are a couple of ways you can revitalize your employee benefits program:
Segment Your Employee Population
With Baby Boomers, Generation Xers and millennials making up the majority of the workforce, benefits need to cover a wide variety of employee needs.
What a single 20-something employee needs compared to a worker who is starting a family is completely different, but equally valid.
As a benefits administrator, get to know your employees and how large each group is before crafting your company’s plan.
Find out how the wellness industry has changed over the years and what types of rewards and incentives managers have introduced as part of their respective programs.
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Lead With Benefit Choice
Choice strengthens employee benefits programs of all sizes.
The more voluntary benefits you have, or the more benefits you make voluntary, the stronger your program will be. This allows employees to sign up for what they need, while not paying for things they don’t.
For two-salary homes, families can select the best options from each employer’s benefits program.
Benefit choice ensures that all participating employees are engaged and satisfied with their benefits program.
Find Supplements To Your Program
When you can’t offer a robust employee benefits program, find ways to supplement it.
For example, use gift cards as recognition rewards, or to boost a wellness program initiative.
Gift cards can be a powerful tool to engage employees, while lowering costs, a pain point for employers. They have a fixed cost for employers, and add value for program participants who exhibit desired participation behaviors.
Incorporating benefit choice is an effective way to ensure employee satisfaction in your program.
Looking to improve your company's rewards program? Buy brand-name gift cards at a bulk discount, and add them to the plan.
