NEW YORK, April 4, 2019 /PRNewswire/ -- Employee benefits administration company, Clarity Benefit Solutions, offers tips for customizing benefit offerings.
Due to a highly competitive, more diverse labor market, employee benefits are becoming increasingly important to attract and retain talent. Employers are now expected to not only offer traditional benefits to their employees, but a wide variety of perks, as well. This results in happier employees, which will increase employee retention. The following are tips for customizing benefit offerings.
First, employers should consider a broader definition of benefits, including options such as health and wellness programs, financial assistance initiatives, and employee assistance programs. Offerings such as these represent opportunities that employers can take advantage of that will separate themselves from their competition.
Secondly, employees have come to expect more options to choose from when it comes to their benefit offerings. Employers who offer a customized benefit plan will most likely ensure long-term loyalty from their employees. They will be happier and less likely to look for another job, which will ultimately save employers time and money spent on looking for potential employees.
Employees need expert guidance when it comes to making the proper benefit selection, particularly when it comes to privileges such as 401(k)s and similar savings programs. Having a benefits expert available to employees to answer their questions and address concerns will help them choose the most suitable options for their specific situation. Ideally, he or she can provide assistance in both a group setting and one-on-one. A financial advisor can also steer employees in the right direction when it comes to long-term planning. Offering regular updates will also keep benefits top of mind and encourage employees to take advantage of these plans.
Make sure that all benefits information is available to employees in a variety of formats—including webinars, flyers/brochures, emails, workshops, and meetings. This will allow each generation to absorb this information via the method is best for them. Use social media to appeal to younger workers. It is also a must to provide employees with user-friendly, decision-making software to help their employee select and maintain their benefits. These decision support tools will further help employees streamline their benefits.
About Clarity Benefit Solutions: Clarity Benefit Solutions provides technology that makes the health insurance plan selection process fast, easy, and straightforward. For over two decades, we have provided clients with industry-leading technology, compliance, and exceptional customer service. Our offering is designed to save time and lower the costs of managing benefits while also promoting employee self-service and automated ACA compliance.
SOURCE Clarity Benefit Solutions