Your company works hard to assemble a benefits package that will catch and keep today’s top talent. And good benefits are more valuable now than ever! MetLife’s recent U.S. Employee Benefit Trends Study found that benefits play a strong role in job satisfaction and an employee’s choice to join or stay with an employer. According to the study, 43 percent of employees surveyed agree that benefits are an important reason they chose their current employer. The study also found that half of employees agree that benefits are an important reason they remain with their current employer. Indeed, employees who understand their benefits’ worth are more likely to be happy with their employers and engaged in their work. So you’ll want to make sure your current and prospective employees know all about your company’s benefits.

A five-year study by employee benefits giant Unum found that while more companies are using benefits packages as a lure, only one-third of employees feel well educated about these benefits. Here’s how you can help employees understand the value of their benefits:

• Promote your benefits in job postings and on the company’s website. If you’ve got a great benefits package, flaunt it! This will impress the 43 percent of employees who used benefits to select an employer, and could possibly attract more candidates. Paid leave, retirement, and optional benefits (dental, vision, disability, life insurance) are big ones to include here.
• Provide materials on different platforms. While many employees appreciate that glossy sheen on their Open Enrollment folder, many will also appreciate the information viewed through a luminous computer monitor. If you’re distributing paper materials, make sure they’re also available online—and don’t stop there. To accommodate the many ways people absorb information, also consider educational videos or live Q&A sessions.
• Share the resources from your benefits providers. You might not have to reinvent the wheel to distribute educational tools. Check with your provider’s contact or your provider’s website to find videos or tutorials that explain the offerings. You could probably also arrange for a representative to speak to your company.
• Allow time to digest the information. Many employers are great about giving enough time during Open Enrollment. Anything less than one month can rush employees into making decisions without knowing all the facts. And the last thing any HR professional wants is a horde of employees in the HR office on deadline day, hastily checking boxes. So be sure employees have enough time to research, ask questions, and make informed choices about their benefits.

How is your benefits package affecting your company’s recruitment and retention? We can help you find out. Check out this real-life example of YES! Your Human Resources Solution in action.

CHALLENGE: A medical device company wasn’t sure the money spent on benefits and recognition programs was appreciated and appropriate.

YES! SOLUTION: Identified differentiators by surveying the local and regional business communities about commonly offered benefits and perks. Proposed changes in benefit offerings based on results of employee survey on benefits needs and use. Communicated to employees the value of benefits and the overall changes.

Are you ready to say YES! to competitive benefits? Contact us for a free consultation.