With surprise fees and out-of-pocket costs, there has been a lot of recent buzz surrounding the transparency of benefits. Employees and employers alike are feeling the heat, but it’s more important than ever to make confident consumer decisions regarding benefits.
By preparing for potential gaps in your benefits communication to your employees, you can position your organization as a resource for both current and potential talent.
- Employees lack basic benefits literacy. The world of benefits is ever-changing, becoming more complex every day. Without the fundamental knowledge about the options available to them, your employees may have difficulty selecting the right benefits for their current situation and taking full advantage of your offerings.
- Be a benefits resource for your employees. Offer education and materials throughout the year (not just at Open Enrollment) to help them choose their best benefits and get the most out of them. You can find a plethora of resources in our Health + Wealth Hub.
- If they don’t know it’s broken, they won’t fix it. Without basic benefits knowledge and self-assurance, many employees may choose to spare themselves the perceived headache and not re-evaluate their benefits options each year at Open Enrollment. This frustration, along with financial concerns and a persons’ emotional state, can lead to less-than-optimal benefits decisions year over year.
- Of course, it would be impossible for anyone to avoid every potential mistake. However, positioning employees well and supporting them with resources and knowledge can aid tremendously in their benefits process and their peace of mind.
- Employees perceive their benefits as “bad,” and seek other employment with better coverage. It’s no secret that benefits are one of the top factors potential employees consider when seeking a new job. However, it is also a key part in retaining the employees you currently have. If your workforce isn’t fully aware of and don’t feel confident in the coverage offered to them and what it means, they may be pushed to seek out something they identify as “better.”
- Be as transparent as possible, and provide employees with as much information and answers to their questions that you can. You can also use this information as a recruiting tool, positioning your organization as the one with “better benefits” to potential talent. Additionally, if your current employees are satisfied with and confident in their benefits, they can be your biggest advocates.
Benefits are one of the top costs for employers everywhere. It is well worth the investment to keep your employees informed and confident in their benefits selections and decisions. Contact us today
to learn more about unique benefits communication strategies.