It's A New Year, Time to Consider Upgrading Your Employee Benefits

2019 has all the earmarks of being just as successful of a year as 2018. This means employment will continue to rise, and you will have tough competition when it comes to attracting the right talent to your company.

The beginning of the new year is the perfect time to review your employee benefits and see how they stack up against your competition. Consider this, two yearly events are going to occur in about five to six months, college graduates will be leaving college and entering the job market and people will be preparing or beginning to move to new locations.

The availability of applicants is going to grow with all of this new talent, and you want your company to be as attractive as possible.

Customize Communications with Your Employees
Today's technology allows you to have personalized marketing and communications with your customers, why not use the same technology with your employees?

Ask them how they would like to receive information about their employee benefits package and use it as the preferred way to communicate with them.

For example, millennials don't like phone calls and interact better with text messaging. However, older employees may prefer e-mails. Establish as many forms of communication as possible, so people are getting the information in a way that keeps them informed and engaged.

Health Care Costs Keep Rising, Consider Health Plans With This Benefit
Telemedicine, also known as telehealth, is the ability of your employees to consult with health professionals over the phone or computer. This feature saves both time and money, because you don't need to make an appointment, and drive to the doctor's office. Health professionals can also serve more people during the day.

Many healthcare companies offer this option now. Ask yours to see if it's available, if not give Culture Insurance a call to learn about the companies we represent.

Consider Lesser Known Employee Benefits
There are other smaller benefits to offer employees that are cost-effective and build employee engagement. Consider the following:

• Free financial consultations. Using a trusted financial adviser, offer free financial planning to employees. The key here is to give them real actionable steps towards gaining control of their finances.
• Student loan refinancing. Many larger companies offer student loan payoffs, however smaller companies may not be able to afford the cost. However, you could offer student loan refinancing at lower rates than the loan companies used by your employees.
• Consider establishing an educational fellowship, You would essentially pay all or part of an established employee's higher education costs. The employee likes it because it allows them to get a higher education. Your company benefits from their increased knowledge and business contacts.
• Allow employees to flex hours or work-from-home to help them with childcare and family life. Child care is expensive, but if you allow them to work at home one or two days a week, this can save them a considerable amount of money.

Culture Insurance is a premiere benefits provider in San Diego County. Our weather, lifestyle, and economic prosperity is a big draw to some of the most talented people in the world.

If you want to attract these people to your business, it's imperative you offer them an employee benefits package that is both attractive and meaningful. If you would like to learn how you can improve your benefits package, please contact us for a free consultation.