Offering voluntary benefits is a great way to enhance your benefits package, differentiate from competitors and increase employee satisfaction — all with little impact on your budget.
However, while employers may choose to offer convenient and valuable voluntary benefits, many employees do not understand the advantages or are unclear about how they work. Educate your employees on the advantages of these voluntary benefits so that you both reap the rewards.
Demonstrate the value of voluntary benefits
When compared to employer-sponsored benefits, many employees may fail to see the value of voluntary benefits that they must personally finance. For example, research shows that employees might not be aware that purchasing insurance through their employer group is often cheaper than buying individually.
When promoting your voluntary benefit options, discuss the advantages of having insurance coverage and the risks of going without and emphasize the convenience and value of purchasing through the company and paying through payroll deductions.
Coverage education
It is important that employees fully understand their policy.
When offering any benefit option, employer-paid or voluntary, you should be sure your employees understand exactly how the coverage works. Here are a few ways to make sure your employees are sufficiently educated about their benefits:
Invite current employees to the monthly or quarterly benefits meetings provided for newly hired individuals.
Many voluntary benefits providers are willing to send a representative to discuss their coverage with employees.
While most benefits administrators don’t have time to meet individually with employees, consider scheduling small group meetings with a few employees who have questions.
Enhance your existing benefits communication program with social media. Social media provides a convenient and effective way to reach out to your employees with educational information, tips and reminders.
Employer advantage: Get started today!
In addition to boosting participation in your voluntary benefits programs, providing meaningful education can position you as a valuable source of knowledge and strengthen employee satisfaction and loyalty to your company.
If you’d like more resources on boosting retention, visit our resource hub today! Guided by our team of experts, you can find quality content that solves your biggest issues. Next, contact us to learn more about your current benefits offers and the possibilities available to you.
This Benefits Insights is not intended to be exhaustive nor should any discussion or opinions be construed as professional advice. © 2008-2011, 2015, 2018, 2024 Zywave, Inc. All rights reserved.