Revamp Your Employee Benefits Package Before It’s Too Late
When was the last time you reevaluated your employee benefits package? If it’s been a while, then today should be the day.
Updating your employee benefits package helps attract and retain top talent. Boosting employee satisfaction strengthens your company’s competitive advantage.
Consider including the following in your employee benefits package.
Affordable Healthcare
Employee access to preventative care contributes to a positive company culture, engagement, and productivity. Healthier employees also have lower out-of-pocket costs and medical claims than less healthy employees.
Affordable healthcare options include:
- Virtual care options such as telemedicine and teletherapy
- Health savings accounts (HSAs)
- Flexible spending accounts (FSAs)
- Wellness incentives such as fitness benefits or mental health resources
Wellness Benefits
Employees with mental health issues such as anxiety and depression are at increased risk for physical health issues such as diabetes, heart disease, and stroke. Overall wellness is essential for employee performance, job satisfaction, and loyalty.
Consider pairing employee health insurance plans with services that encourage healthy behaviors:
- Good sleep hygiene
- Regular physical movement
- Smoking cessation
- Addiction treatments
Think about implementing wellness-focused programs:
- Employee assistance programs (EPAs)
- Online resources and behavioral health education programs
- Comprehensive biometrics and lifestyle education programs
- Suicide awareness training for managers
Financial Security Benefits
Tailored benefits that address employees’ financial concerns help reduce stress, improve job satisfaction, and demonstrate commitment to well-being. Promoting financial stability helps employees stay engaged and productive.
Examples of financial security benefits include:
- A retirement plan with a company match
- A student loan repayment program
- Financial counseling and resources for debt payoff assistance
- Budgeting apps, financial planning workshops, and access to certified financial advisors to support financial wellness
Family-Focused Benefits
Employees raising children or caring for elderly parents require additional support to relieve stress and avoid burnout. Reducing the financial burden of caring for family shows your company’s commitment to supporting employees at all stages.
Family-focused employee benefits include:
- Paid family leave and surrogacy benefits
- Dependent care flexible spending accounts (DCFSAs) to offset daycare and ancillary care costs
- Specialized reproductive health benefits for family planning, support for high-risk pregnancies, infertility treatments, and menopause care
Upskilling and Reskilling Opportunities
Professional development helps find and keep top talent. Opportunities for skill development and career advancement encourage employees to remain long-term.
Consider upskilling and reskilling in these areas to meet employee expectations:
- Provide training on new technologies to enhance proficiency
- Cross-train for different roles to meet changing business needs
- Offer mentorship, workshops, certifications, and other development programs
Personalized Benefits
Letting employees choose their benefits supports their unique needs and lifestyles. This option provides additional value for your workforce and a better return on your company’s benefits investment.
Consider sending employee surveys and conducting a benefits audit to understand which benefits are in demand. Then, make data-based decisions to determine which benefits to offer.
Examples of customized employee benefits include:
- Identity theft protection
- Pre-paid legal plans
- Transportation benefits
- Pet insurance
Looking for Customized Employee Benefits Advice?
PrideStaff’s expert recruiters can provide tailored advice on which employee benefits to offer to help keep your company competitive. Contact your local PrideStaff office to start the process today.
Related Posts
