Autumn is only a couple of months away and before you know it, it’ll be enrollment season.
And while you may think that you have plenty of time until fall, it’s wise to start planning ahead. Getting a head start will give you enough time to not only plan well but educate employees about the benefits you’re offering. It’ll also help make the paperwork process easier.
With that in mind, if you’re planning to make big changes to your employee benefits program, here are 3 tips to take into consideration:
1. Develop a Good Enrollment Strategy
You need to first develop an effective enrollment strategy. Take into consideration what worked previously for both your employees and vendors.
Make a list of things that benefited your employees and what they want to eliminate. It’s likely you’ll face a lot of challenges so make sure to make a list and evaluate each employee’s requirement.
Conduct a meeting with your team and vendors to make sure everyone is on the same page. If you’re planning to offer specific services like counselors and wellness programs, you need to give your vendors time to gather relevant resources. It’s best to start the process at least a couple of months.
2. Keep Up with the Latest Trends
In order to create the perfect employee benefits strategy, make sure you’re keeping up with the latest trends.
Surveys show that 54 percent of employees want dental and vision insurance as a benefit. Are you offering dental and vision? Are you keeping up with employee requirements?
These are questions to ask yourself. If not, conduct a meeting with your team and identify individualistic needs. You can also conduct a market research via an HR consultancy firm to see the latest trends in employee benefits, their costs, and strategies you can use to implement them.
3. Evaluate Each Benefit
If you’re planning to focus more on medical coverage, make sure to evaluate each benefit you’re offering. Some benefits may not be necessary.
Unnecessary benefits tend to become costly. For example: you can offer some benefits together than separately. Like wellness programs can be offered with dental and vision. This way you’re covering medical under one umbrella.
Furthermore, you can also offer customized benefits. This way, senior employees can take advantage of certain benefits and millennials don’t end up with “benefits” they don’t need.
If you’re looking to create or revise your benefits package, contact JS Benefits Group.
As a leading employee benefits, wellness and HR consulting company, JS Benefits Group provides tailor-made solutions to businesses in the Mid-Atlantic region.
We have over two decades of experience designing practical and customized benefits programs for businesses of all sizes.
Call (877) 355-6070 to schedule a consultation.