3 minute read
Revolutionize Your Benefits Strategy
By PES Benefits
We are officially one month into a new year and a new opportunity for companies to rethink and revamp their benefits strategy! All things are fair game, from marketing your open enrollment to ensuring all employees are educated on their benefits; your strategy can only be successful with a proper plan and understanding of the ever-changing benefits world! Here are a few things to consider when planning for future open enrollments.
1. Effective Communication: Are we effectively communicating open enrollment to employees?
The need for effective communication and education to empower employees and drive utilization rates remains vital. Clear communication forms the cornerstone of a successful benefits strategy. It's not just about informing employees of open enrollment but ensuring that the information is accessible and easily digestible.
2. Employee Support Hub: Are we providing a place where employees can get answers to their benefits questions?
A comprehensive benefits strategy goes beyond enrollment dates. Providing a centralized hub for employees to seek answers to their benefits queries ensures they feel supported throughout the year. A well-informed employee is more likely to utilize the benefits available to them.
3. User-Friendly Benefits Technology: Is our benefits technology easy to use and accessible to the entire employee population?
In the digital age, the accessibility and user-friendliness of benefits technology can make or break your strategy. Ensure that the benefits platform is not only technologically advanced but also easy to navigate. This inclusivity is key to reaching the entire employee population.
4. Employee Feedback: Are we listening to the benefits needs and wants from employees?
An effective benefits strategy is a two-way street. Actively seek feedback from employees to understand their needs and preferences. This can be achieved through surveys, focus groups, or regular check-ins. The insights gained will enable you to tailor benefits offerings to meet the unique needs of your clients' employees.
5. Empowerment and Understanding: Do employees understand their benefit options, and are they empowered to make those decisions?
Understanding benefits shouldn't be a daunting task for employees. Empower them with the knowledge needed to make informed decisions about their benefits. This not only increases utilization but also contributes to overall employee satisfaction.
Companies should also remember that expanding benefit offerings is not always the answer to success. You may also need to customize your benefits strategy to your clients’ employees' needs. Failure to tailor your benefit offerings potentially affects participation, retention, and benefits package satisfaction. Consider encouraging your clients to do some market research through polls or focus groups to find out what kinds of benefits their employees find the most valuable.
A successful benefits strategy requires a thoughtful approach. By focusing on effective communication, employee support, technology, feedback, and empowerment, you can revolutionize the benefits experience for both your clients and their employees.
Dave Hurlock, CEO, PES Benefits - As the CEO of PES Benefits, Dave is focused on PES organizational strategy and growth. At PES, we take pride in our ability to provide our broker partners, employer partners, and their employees with the best all-in-one employee benefits experience possible. Dave became a partner at PES in 2019.
