We've talked at length of the importance of employee benefits to your company. Yes, you know that benefits are just as significant, if not more important, as salary for attracting and keeping employees. You probably are also aware employees value their benefits at different stages throughout their career. For example, older employees appreciate health benefits more than younger employees, and younger employees place a lot of value in tuition assistance.
A recent study completed by Randstad North America supports and reinforces these facts. The study showed that 94% of their survey population, 756 employed people, want benefits that matter. However, what was striking is 40% of the respondents said their employers don't make an effort to let them know what their benefits are, or how to access them.
If you are paying for benefits, you should make every effort to ensure your employees know what they are and how to use them.
In a somewhat similar finding, the health group Medical One found that 95% of the respondents to their survey said employee benefits are important, 36% said they are somewhat important, and 5% said they are not important at all.
So, who is that 5% who don't find employee benefits important? They are probably the people who have no idea what their benefits are, and they don't know how to use them.
Employee Benefits Won't Live Up To Their Name If People Don't Know About Them
In addition to providing a benefits program, you also have to give an on-going orientation and education program to your employees about what those benefits are and how they can access them.
This problem is partially solved by the orientation program your employees go through when they are first hired. However, that is usually a busy time, and a lot of information is being thrown at them. It's possible they could forget some of their benefits.
So, it might be a good idea to have an "employee day" maybe every six months or so. During this day you could have a block of time set aside where employees could learn about the benefits available to them. You could include the informational meeting with a family day. The families of employees would also be aware of the benefits.
Build A Team With Benefits
The point is your employee benefits plan for you to develop cohesion with and among your employees don't let it go to waste. Again, you are paying for the benefits, make sure your employees are getting the most out of them.
Culture Insurance is one of the premier providers of benefit plans in the San Diego area. If you are thinking about restructuring or starting a benefits program, we encourage you to call us. We offer a full range of products that provide excellent benefits for a wide range of employees.