In this day and age, the presence of a strong employer brand is becoming more and more important to both job seekers and current employees. While the employer brand your company builds and maintains has always been integral to its success, over the past few years (and especially now), employer brand and company culture are taking center stage.
Making the Case for a Strong Employer Brand
Let’s begin by defining “employer brand”. Your employer brand is what your firm wants to be known for and how it wants to be perceived. It’s built from the firm’s mission, vision, values, and overall company culture. To be effective, it must be well-developed, clearly communicated, and responsive to external change.
So, why is it so important? More and more, employees want to feel like they are working for a company that cares. Your current employees and future job candidates want to feel in sync with your company’s brand. They want to feel connected with the mission and in alignment with the culture.
In fact, according to a Glassdoor study, more than half of those surveyed prioritized cultural fit over salary. That number jumps to nearly two-thirds amongst Millennials!
This confirms that workplace culture and employer branding aren’t fads. They’re here to stay and will only get more important over time so it’s in your organization’s best interest to start focusing on your company culture and developing ways to strengthen your employer brand now.
How to Improve Your Employer Brand
There are many ways your organization can improve its employer brand - one powerful (and relatively simple way) is to offer a benefits decision support tool to your employees.
Benefits decision support guides your employees through the benefits enrollment process, educating and empowering them to make the best decisions for their situations. It simplifies the benefits selection process and allows employees to feel confident about their choices during enrollment periods.
You might be thinking -- do my employees really need this help? The answer is a resounding YES! Here’s why: Most employees are overwhelmed by the entire benefits selection process. They get hung up on confusing terminology and complicated math. Oftentimes, decisions are based on faulty assumptions (i.e., the plan with the highest premium must be the “best” because it’s the most expensive). Or, even worse, they make no decision at all. In fact, more than 9 out of 10 employees stick with the same health plan year over year, just because it’s easier than re-evaluating their options.
Keeping this in mind, the need for a robust benefits decision support solution has never been more clear. But it’s important to note that not all benefits decision support solutions are created equal. You want to make sure you are providing a tool to employees that is quick, analytical, and intuitive. Remember, benefits decision support is supposed to make your employees’ lives easier, not more complicated.
Luckily, Picwell DX checks off all the boxes.
Picwell DX cuts through all the confusion by analyzing numerous data points and utilizing Artificial Intelligence (AI) in its recommendation processes. Based on answers to a few basic questions, the system looks at each employee’s personal health risks and preferences, compares it to similar people, and does all the heavy lifting for them. For your employees, the days of trying to understand benefits terminology and calculating co-pays and deductibles are gone.
At the end of the process, Picwell DX ranks each benefits plan by order of fit and explains why a specific plan is the best option for an individual’s needs. It can even guide your employees through HSA benefits and any supplemental benefits your organization offers.
Benefits Decision Support Enhances Your Employer Brand
So, this all sounds great, but you’re probably asking yourself - what does implementing a benefits decision support solution do for my organization’s employer brand?
Offering employees a benefits decision support tool clearly demonstrates that your organization cares about its employees’ health and financial wellbeing. It also shows that you are dedicated to providing the necessary support to your workforce to ensure they are putting themselves in the best positions financially.
Doing this helps to improve employee morale and foster employee loyalty. When employees feel like their organization truly cares about them, they are happier and more committed. And when employees are happy, productivity goes up and turnover goes down - both of which are great for the company’s bottom line.
Plus (and perhaps most importantly), happy employees are great brand ambassadors. They’ll sing the company’s praises to friends and family, ensuring a steady stream of qualified candidates that will fit in seamlessly with the existing culture. A well-known, well-respected employer brand makes recruiting faster, easier, and cheaper and solidifies an organization’s standing in the marketplace.
Now more than ever, employees need to feel like their company cares about them. When you provide a benefits decision support solution like Picwell DX, you show them that their financial and physical wellbeing are top priorities for your organization. When employees feel supported by their employer, their lives (both professionally and personally) will be better, and they’ll continue to grow with, and do great work for, your company. Even though the future seems tenuous now, cultivating an engaged workforce via a strong employer brand can make everything seem a little brighter. Picwell can help you get there.
Schedule a demo today to see for yourself how Picwell can help bolster your employer brand.