Read More

Educating on the Value of Employee Benefits Virtually

Benefit: something that produces good, helpful results or effects, or that promotes well-being

In “normal” times, educating employees on their company benefits and showing them the value of the offerings can be difficult. When a pandemic hits, and face to face interaction is taken away, that education process becomes even more difficult. Employers spend nearly a third of an employee’s total compensation on benefits and yet, many employers don’t properly educate on the value of those benefits. To truly value the benefit, an employee must understand the benefit being offered to them. There are many approaches which can be deployed to help with this education process. A strategic plan which includes the education piece is vital to showing the value and keeping both the employees, as well as their spouse and dependents in the know.

Handing out an open enrollment package and assuming employees will look at it and will show it to their dependents just doesn’t work. Employees need to be engaged in the content to retain and understand its value. A virtual meeting where a specialist not only briefs employees on the basics of the plan, but also gets into important concepts about how to best utilize the plan can be a great way to inform employees and get them excited for their options. Walking employees through examples of cost savings can help drive home the value. For example, you may want to illustrate the cost impact of going to facility A vs facility B and how that can help them control costs. Effectively using an HRIS system is another great way to virtually communicate with employees and are vital in today’s benefits world.

Additionally, total compensation statements can outline the value of all benefits, including paid time off, reimbursements such as tuition or commuter programs, and retirement savings. In black and white, a total compensation statement will show the employee the investment the company is making in them outside of their paycheck.

Here at OneDigital, we want to make sure your employees understand the value that you are providing for them. A benefit is only good if it is perceived to be good. Otherwise, all the time, energy and premium that you allocate towards your benefits program is diminished in value.

Contact your OneDigital Consultant to discuss how you can be strategically educating your employees on their benefits.