These days, it may seem like standard compensation is never enough - employers need to put in a lot of effort to keep their workers engaged and happy in their positions. If you've noticed employee motivation dwindling over the years, there's a chance you aren't giving staff members what they really want when it comes to benefits enrollment. To ensure every individual within the organization is satisfied with their coverage, you need to put the power in their hands: Offer a platform that lets employees choose the insurance packages that fit their lifestyles and family needs.
Introduce new benefits options
With Affordable Care Act regulations and private health insurance exchange services playing more prominent roles in the benefits landscape, worker expectations are at an all-time high with regard to what their prospective employers can provide. Today's employees do their homework and know exactly what they want from their coverage, and you'll need to be prepared to deliver if you want to attract and retain the best workforce possible. According to BenefitsPro, this will require that you not only offer the standard array of health benefits, but also let workers choose from a selection of voluntary coverage.
"Employee benefits are one of the most important factors in recruiting and retaining good employees. A robust package that includes voluntary products helps employers acquire and retain a talented, productive workforce," said Randy Clarkson, TEB president, according to the news source. "This is especially true now with the diverse needs of employees."
So, what do employees want to see offered in addition to the typical health coverage you're required to provide? The source pointed out that common voluntary benefits include items such as critical illness care, accident coverage, supplemental medical expense, dental and vision policies. Seeing as 65 percent of employees surveyed in a recent Harris Interactive study said that it's important to have these voluntary options available, there's no harm in making sure your organization's benefits management software facilitates these types of transactions.
Who doesn't appreciate choice?
Regardless of whether your employees decide to purchase voluntary benefits to supplement their standard coverage, offering these options conveys a sense of appreciation for your staff - a crucial element in retaining workers across the board. In these uncertain times, people are searching for support wherever they can find it. Extending a helping hand in the form of voluntary coverage shows that you're committed for the long haul.