Personalizing Your Employee Benefits Offerings
Understanding the value of personalizing your employee benefits offering is a large part of embracing all the diversity within your organization. Providing benefits and opportunities that are as unique as your workforce will attract, retain, and motivate the best talent to set your company apart. Aligning your benefits strategy to match your company culture and to embrace all the different needs of your employees is the best way to support their experience and represent their value to your organization.
The Value of Personalization
Different employees have a wide range of needs and values to satisfy. Offering the same set of benefits to everyone will not work- in most cases, one size will not fit all. If your organization is trying to attract and retain employees, tailoring benefits options might be the best option for you. This may involve expanding on existing plans you have in place, adding more voluntary perks, or simply giving employees more options to choose from. In any case, it’s about giving your workforce greater control over selecting a meaningful, unique plan.
Giving employees the chance to choose from a wide variety of benefits may seem like a great option, but in many cases, it proves to be the opposite. Too many choices can become overwhelming for most employees, requiring your organization to think strategically about offering a moderate number of options that cater to your employees’ needs.
Here are a few potential benefits to consider:
- Retirement Plans
- Affordable healthcare
- Family-Building Benefits
- Flexible Work Scheduling
- Mental Health Benefits
- Life Insurance
- Financial Wellness Planning
While every benefit may not appeal to every employee, providing them with a well-rounded list of options is demonstrative of the value you have for your workforce.
Tips for Personalizing Benefits
Personalizing benefits will be different in every organization, but there are some general things to consider when strategizing to assess your plans:
- Survey Employees – The best way to understand what your employees expect from their benefits is to ask them, sending out a quick survey to find popular benefits expectations is a simple and confidential way to do this.
- Conduct Focus Groups – Consider setting up meetings with groups of your employees to start a discussion about what new benefits options may be right to offer.
- Maintain Communication – Always leaving the door open to more conversations about benefit needs is a great way to support your employees as they grow in both their personal and professional lives.
- Opt for Variety – Offering a number of health plans is helpful in addressing the specific needs of employees and their conditions.
Overall, personalizing benefits plans is made possible through actively and continually communicating with your team about their needs. While it’s impossible to meet every single benefit need of your employees, reaching out to them will show your continued commitment to trying to reach that goal.
Ready to redesign your benefits plan? Get in touch with one of our consultants today to discuss giving your workforce the diverse benefits they need!