Sure, your employees want a great salary and a prestigious job title. But, more importantly, they want to work for a company that cares about them. Fortunately, your organization can easily demonstrate appreciation and respect for your team members by offering a company culture and benefits package that truly supports them and their needs. If you’re not sure where to begin, you’ve come to the right place - we’re here to help you get a head start by sharing the top employee benefits your organization should be offering.
The Benefits You Offer Matter More Than Salary
By now, you’re likely already offering remote-friendly benefits and running virtual open enrollments. These are essential under today’s circumstances and unlikely to change too drastically in the months ahead but there is much more you can do to keep employees happy and healthy.
A recent survey conducted by Randstad US found that 61% of employees would be willing to accept a lower salary if a company offered a superior benefits package. Yes, you read that right - more than half of employees care more about their benefits than their salaries.
While it might sound crazy, it makes complete sense. Now more than ever, employees are worried about their health and finances. And, with a candidate-driven job market, your organization needs to do more than offer a hefty salary and bonus opportunity if it wants to attract and retain top talent.
It’s important that your organization's suite of perks help improve your employees’ quality of life as well as enhance their well-being, both physically and financially, for years to come. Here’s a few things your organization can do to achieve these goals:
Rethink Paid Time Off (PTO) Policies
With the current ‘work from home’ atmosphere most of us are still living in, work-life balance has become nearly non-existent for many employees. In fact, over the past year, about half of American workers reported feeling some level of burnout.
Now more than ever, your team members need time away from their desks, whether that’s as a planned vacation or an impromptu break. Your company can facilitate these necessary pauses by offering, and more importantly, encouraging, the use of a generous (or unlimited) paid time off policy.
Want to take it even further? You can show your commitment to putting family first by providing paid family, maternity, and paternity leave. That way, your workers won’t have to worry about a paycheck as they care for an ailing loved one, or adjust to a new addition to the family.
Pro Tip: If your company has already maxed out PTO potential, you might want to consider incorporating flex scheduling. This will allow employees to adjust their working schedule to better fit their needs for maximum productivity.
Provide Mental Health Support
Life is inherently stressful, but as you probably know, the last couple of years have been especially difficult. Your company can help workers be happier and more productive by augmenting your mental health-related benefits. For example, consider offering an employee assistance program (EAP), virtual counseling, or telehealth options.
These types of programs include free counseling sessions and assistance from trained professionals, which can help your employees work through their stress and emotions, enabling them to adjust to this “new normal” while maintaining job satisfaction and productivity.
Add Wellness Perks — Physical, Financial, and Otherwise
Workers expect health, dental, and vision insurance. But, your organization can stand out as an employer of choice by offering a variety of wellness perks. Chances are, your workforce would be grateful for (and impressed by) supplemental benefits like gym reimbursements, financial planning sessions, legal services, and identity theft protection.
Not sure what specific benefits your team members want most? Send out a survey, hold focus groups, or better yet - do both! The insights you glean from your employees will be priceless as you plan and restructure your benefits package for the upcoming year.
Pro Tip: Don’t forget to think outside the box! Your organization could also offer to help cover a portion of the cost of fitness trackers or weight loss programs, and run contests throughout the year to promote healthy living.
Provide Access to Professional Development Opportunities
The corporate ladder might be virtual now, but your employees still want to climb it. If they don’t see the next rung in front of them, they’ll eventually look elsewhere to advance.
Your organization can show your employees that they matter by creating clear career paths and providing ample professional development opportunities. By doing so, you improve the talent within your organization, grow the next generation of leaders, and foster loyalty to your company - it’s a win-win!
But… Simply Offering These Benefits Isn’t Enough…
Creating a robust benefits package that’s customizable to employees’ needs is only part of the equation. Many companies provide their workforce with a competitive set of perks, but few truly leverage what they offer. As a result, team members often don’t know about, or underutilize, what’s available to them. That’s why it’s important to communicate early and often.
You can ensure that your team members take full advantage of their benefits by increasing your benefits education and communication efforts. Make it a point to share information about the plans your company offers year-round. Don’t wait until open enrollment to start reaching out. And if you feel like you’re communicating too much, you’re not. Employees will need continuous reminders throughout the year to fully take advantage of the benefits available to them.
Pro Tip: Use a variety of mediums to educate employees about their benefits. Make sure to send emails - even consider snail mail! - post reminders on the company intranet, hold virtual benefit fairs, run webinars, etc. And don’t forget to vary the method of communication - use a combination of videos, text, and images. That way, you increase your odds of reaching every team member, when, where, and how they need it.
Get Benefits Right This Year… With a Little Help…
The best part about all of this is, you don’t have to go it alone. Not only can your insurance broker help you craft communication pieces, there are also companies that can help your employees learn about and select the best benefits for their needs, helping you to set them up for a year of success.
Picwell is one of those companies. We provide a robust benefits decision support tool called Picwell DX that helps your employees choose the best benefits for their situations while saving them (and your company!) money in the process. As a Picwell customer, you’ll also have access to our exclusive Customer Success Toolkit which includes a set of customizable emails you can use to advertise benefits enrollment and educate your team about their benefits. By implementing Picwell, you’ll show your employees that you care about their health, wealth, and overall well-being - all year long.
This year, show your employees how much they mean to your organization. Contact us today for a free demo.