3 Keys to Helping Your Employees Understand Their Benefits

Employee BenefitsYour company is a great place to work. You offer competitive pay, robust benefits and the company culture is fantastic. You feel that way, but do your employees?

You also happen to be in a competitive marketplace, and the skilled workers who make your company so successful, have options. So how do you keep those coveted employees at your company, and away from the competition? A major contributor is making sure your employees understand and value the benefits available to them. Do they view your benefit offering the same way you do?

Here are three quick keys to helping those individuals understand what they have:

1.      Send a survey out to your employees, asking for feedback.

An anonymous survey sent to all employees will help you discover where there are gaps in understanding. You may find that employees do not understand how a HSA works. They may not realize that contributions to a HSA are pre-tax, or that unused contributions carry over to the next year. 

You may also find that there are lines of coverage employees would value that are not currently offered. For instance, a large segment of your population may value a life insurance offering or short term disability. This is great information that you may not know otherwise.

2.      Prepare an organized enrollment strategy.  

Sit with your broker 90 days in advance of your enrollment time to plot out a strategy. Create a tangible timeline of when on-site meetings will take place and what educational tools you’ll provide to the employees. HR professionals can quickly become overwhelmed by disorganized and last minute timelines.

By building this timeline with your broker well in advance, you hold them accountable to helping you execute the goals you lay out.

3.      Create different forms of educational materials for employees.

The one or two page benefit statement you hand out every year is great, but you can do more. Recorded and live webinars can be extremely helpful for walking through benefits with employees especially if your employees are spread out over multiple locations. The truth is you can go deeper on a webinar than a bland piece of paper. You’ll also be able to field questions efficiently.

If your broker has the ability, a digital flipbook could also be used. Rather than scrolling through a long PDF, the flipbook format is more engaging and eye-catching. Customize benefit guides to include your non-medical benefits like 401k and time-off policies. These materials, coupled with your face to face meetings, will make your benefits stand out.

By taking the time to educate your employees on the benefits they have, not only will they appreciate them more, but they will make smart decisions when it comes to utilizing them. This is no easy task, so lean on your broker to help you accomplish the goals you have. Plot out a multi-year strategy and continue to ask for new ideas on execution. Most importantly, be willing to take a step back and examine what you are doing. A company willing to evolve will stand out when a prospective employee is reviewing your offerings alongside your competition.

Reach out to our AssuredPartners NL Employee Benefits team for resources to help educate your employees on their benefits.

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