To appear more attractive to a highly-competitive labor market, you may want to consider voluntary benefits. This can give you a competitive edge in the market and help recruit the best candidates.
Some employees look for flexibility and adaptability in an employee benefit program. They want control over perks and benefits, and spend their income on benefits they believe are useful.
Voluntary benefits are fully financed by employees; however, in some organizations, employers make a contribution as well. Employees are able to buy policies on cheap group rates, which otherwise are inaccessible to an individual.
Introducing a voluntary employee benefits program can be tricky. Employees and employers need to be on the same page regarding the benefits programs. Employees need to be coached to make better decisions and the process needs to be understood inside and out to avoid any sort of ambiguity.
Customized or regular benefits
Employees are more concerned about the core benefits the employer offers. They want to know the cost of healthcare insurance and employee wellness program. Until then, they won’t even be interested in additional voluntary benefits.
By incorporating your core plan with voluntary benefits, you can pique employee’s interest and facilitate them in making a better decision.
For example, once an employee knows his contribution to the core plan, they can think about investing in additional benefits.
Determine communication channel
Since a voluntary plan requires an employee to make most of the decision, communicate effectively throughout the enrolment process. If your employees have shown an inclination toward a mode of communication—for example, email—make sure messages are communicated using that channel.
To reach out to employees at every level, use a mix of communication channels. Spread the word about voluntary benefits via email, text message, flyers and company’s intranet. Information regarding voluntary benefits can also be included in your traditional enrolment presentation and company’s benefits guideline.
Allot a time slot to entertain employee queries and send out reminders regarding the enrolment deadline via all communication channels. It’s recommended that you have employee benefits counsellors on board to answer questions round the clock.
Give you employees examples. Explain how a traditional employee benefits program is different than a voluntary employee benefits program. Illustrate how it will fill in the gap and cover areas that a traditional benefits programs leaves out.
Every organization has a unique set of workforce, with different needs. Offer them a flexible employee benefits program that can be customized to control cost and maximize coverage.
JS Benefits Group can help you choose the best benefits program for your company. We are an employee benefit company in Pennsylvania, enabling employers and employees and to make better business decision and pick a benefit program that suits their needs. You can find more about us on our website or call us at (877) 355 – 6070.