While it’s easy to recruit new employees, retaining them is a lot harder.
A good wage is enough to convince potential candidates to apply, but in the long run, employees want something more.
You may have an amazing office with the latest technology and equipment. But the first question candidates ask when applying for a job is: what can you do for them?
In fact, 54 percent of job candidates admit that benefits play an important role in their decision to apply for a job.
More and more organizations—big and small—are realizing the importance of offering fringe benefits. But the biggest problem organizations face is creating a successful employee benefits enrollment program.
Here’s what you should do and consider when creating one:
Communication is the Key to Success
One of the biggest challenges organizations face is reaching out to employees about open enrollment. You need to inform employees about their options and how the entire process works.
For example: let’s say you offer free transport and there’s also an option for fuel coverage if employees have their own transport. If they choose the fuel coverage option, they won’t be able to use the free transport services.
You need to make sure that this is mentioned in the policies and all employees are aware of the policy.
Secondly, you need to come up with an effective marketing strategy to inform employees and job candidates about the perks you offer. Email campaigns and social media posts are some of the best strategies to implement if you’re targeting Millennials.
It’s a no-brainer that preparing ahead is the key to a successful enrollment program. But how you prepare is what makes a significant difference.
One of the best strategies to create a successful employee benefits program is to conduct a survey. This way, you can weigh your options by finding out what your workers expect from you.
You’ll also identify what type of benefits you can afford.
One of the biggest mistakes organizations make is overpromising and under-delivering. Don’t promise employees benefits that you won’t be able to provide in the future.
For example: some organizations believe they can afford free transport. But after a couple of months, they realize that with over X number of employees and X vehicles, the fuel costs are too much to bear. In addition, when the company recruits new employees, they’ll have to provide them with transport as well.
Moreover, all of this depends on where each employee lives. Some probably live nearby, while others could live 2 hours away.
Make sure to weigh your options carefully before coming to a decision.
For further information and consultation, feel free to give us a call at (877) 355 – 6070.
JS Benefits Group helps businesses design an effective employee benefits program and HR policies in New Jersey. We are dedicated to empowering employees and providing organizations with effective end-to-end solutions for all their needs.