The Great Resignation is leading companies to rethink their approach to employee benefits. While flexible work initiatives seemed cutting edge only a few years ago (remember summer hours and Fri-Yeahs?), today a hybrid work environment is a standard consideration for many job seekers. Well-being offerings (financial, mental health support, parental/family care leave) are edging up the list of must-haves for job seekers.
While HR leaders grapple with which offerings to add or remove from benefits packages, an immediate solution is at hand: do a better job of communicating the value of the benefit programs you have now. Then promote new offerings as an extension of your company values.
Consider these three steps:
1. Market your benefits like you do your brand. Go beyond employee orientation and open enrollment and talk up benefits year-round. Research indicates that only 49% of employees understand their benefits and close to 80% do not review their open enrollment materials. Let’s do better! Develop monthly educational updates and interactive tools for employees to get more detailed information. Dive a little deeper into how your benefits make a difference to employees.
2. Survey employees about their benefit preferences. To really understand why some benefits are popular and why others are underutilized, conduct a detailed benefits survey. Just adding a few questions to the annual employee engagement survey won’t provide the insights needed to make accurate decisions. Times change and some of the current offerings may not meet the needs of today’s workforce. This data can also guide decisions on what benefits are needed to remain competitive.
3. Keep it simple. Remember, everyone learns differently. Use a variety of communication channels and tactics. Brief, visual content delivers a big impact. Few are willing to spend the time required to read through a Summary Plan Document. Clear language and easy-to-understand scenarios entice employees to learn more.
When employees believe they are valued in the workplace, productivity, retention, and engagement rise. Telling a compelling story about your company’s benefits can contribute positively to that result.