Help employees be more than satisfied with their benefits
By
Do your employees truly understand the benefits you offer? There are reports going around that say a good portion of employees don’t understand their benefits. And that’s not good because if they don’t understand them, they won’t use them. And that spells dollars lost for firms.
What do you do?
First off, don’t get frustrated. It’s not all bad news. Your efforts are paying off.
In fact, 63% of 900 part- and full-time workers age 21 to 64 said they were satisfied with their health and wellness benefits, according to the Workplace Wellness Survey conducted by the Employee Benefits Research Institute (EBRI) and Greenwald Research.
And it gets even better. The number of employees who are “extremely” or “very satisfied” with their health insurance plans went up from 49% in 2018 to 55% in the summer of 2020 – yes, during the pandemic.
This is good news. But are you OK with “satisfied?”
There’s still a good portion of workers who aren’t satisfied.
So how can you reach your people who don’t understand their benefits and/or aren’t satisfied with them?
Fill in the gaps
You fill in the “communication gaps” so your employees understand their benefits and use them.
Two options for doing that: personal advisors and online programs.
Many companies may be tempted to go with online programs since they’re less time consuming and cheaper. The study, however found that many employees, especially at small companies, want a live person to talk to and answer their questions.
Why?
It’s more personalized – employees get their specific questions answered and feel they can make smarter choices.
If your company is small, and you’re the only HR/Benefits pro, consider offering both options: online programs for the majority of questions and personalized one-on-one meetings for those who need more info.
Rethink compensation strategies
Adding benefits doesn’t always have to mean shelling out a lot of money. Especially, now during the pandemic, employees appreciate companies that show they care about them and their circumstances. And they understand that regular bonuses and raises probably aren’t in the cards this year.
The key is having a diverse array of options so there’s something for everyone. For example, offering parent support groups for employees who have young kids in school or who are taking care of an elderly parent. For younger employees or those who don’t have children, some options are offering virtual personal training, online cooking classes, music concerts, virtual counseling, etc.
Powerful benefits
Offering caregiving support and resources is a powerful benefit. It can be the difference between whether an employee has to quit their job or accepts your job offer.
Advertisement
And don’t pull back on mental health benefits. December had the lowest levels of employee well-being since COVID-19 hit, according to the Mental Health Index by Total Brain and the National Alliance of Healthcare Purchaser Coalitions.
In today’s world, comprehensive and unique benefits are key to maintaining and attracting talent.
Info: Free food and fitness are out as employers rethink their benefits
Further Reading
IRS Raises 2027 Retirement Contribution Limits for 401(k)
The IRS has announced that the 2027 contribution limit for 401(k), 403(b) and 457(b) retirement plans will increase to $25,500, up from $24,500 in 2026. Higher Catch-Up Limits Boost Retirement Savings Catch-up limits are going up, too: The higher catch-up replaces the standard one, so employees can’t stack the two. And employees can make catch-up […]
Paid Parental Leave: New Requirements for Allegheny County Employers
On Oct. 22, 2026, Allegheny County, Pa., enacted what’s believed to be the nation’s first countywide paid parental leave mandate. Employers must comply by October 2027. Employers doing business in the county with 15 or more employees anywhere must fund 12 weeks at base pay, capped at $4,200 weekly, for birth, adoption, child placement or […]
Washington Paid Leave Premium Increases Jan. 1
On Jan. 1, 2027, Washington’s Paid Family & Medical Leave premium increases to 1.2%, from 1.13%. Employers will pay 29.3% of the paid leave premium; the employee share is 70.7%. Employers may cover some or all of employees’ share. Generally, employers with fewer than 50 employees don’t need to pay the employer share unless they […]
Year-End Fringe Benefits: Check Payroll’s Accounting Cutoff
With year-end approaching, payroll teams should review whether the IRS’s optional special accounting rule makes sense for certain taxable noncash fringe benefits. The rule lets employers treat benefits provided during November and December (or a shorter period within those months) as paid in the following year. For example, personal use of a company vehicle in […]
Handy Open Enrollment Jargon Cheat Sheet for You
Open enrollment can be a hectic time of year for HR pros and the employees you help. Add open enrollment jargon to the mix, and you can ensure confusion will flourish. Clarifying Open Enrollment Jargon So we’re equipping our readers — and your employees — with a handy jargon cheat sheet to get through benefits […]
Clocks Fall Back Nov. 1: A Payroll Checklist for the Extra Hour
When daylight saving time ends, employees on the clock when the time changes at 2 a.m. pick up an additional hour. Payroll teams need to make sure that hour is credited and paid this run. This year, the clocks fall back one hour on Nov. 1, despite a late push to make daylight saving time […]