What better way to honor your employees than to provide them with what matters most to them? National Employee Benefits Day on April 5 is a time for benefits professionals to step back, assess the big picture and take stock of available resources for plan participants and beneficiaries.
According to a recent jobs report from the U.S. Bureau of Labor Statistics, the unemployment rate in 2022 edged down to 3.8 percent and job growth was widespread led by gains in leisure and hospitality, professional and business services, health care and construction. This is good news for job seekers but if you’re an employer, you need to be as competitive as possible to attract and keep the employees you have. This means playing the important role of providing quality benefits to your employees through several means.
How? These four tips will help get you there!
1. Attract and Retain Talent
Right now, there are jobs aplenty and it’s harder than ever for employers to find talent in this current job market. In order for people to want to join (or stay!) with your company, you need a variety of benefits and perks. One way to attract and retain your talent is with a top-notch benefits package.
Here at Washington National, our suite of supplemental health and life insurance products can enhance your employee benefits program, while our administrative technology can make your job easier. Our state-of-the-art platform streamlines the enrollment process to help employees choose benefits quickly. At the same time, it helps you efficiently manage your supplemental benefits program. Providing the best benefits package possible is why we’re here!
2. Make resources accessible
With the stresses, strains and responsibilities of everyday life on employees’ shoulders, coupled with all that has come with the pandemic, people have less time than ever to inform themselves. Do good by your people by offering educational information and talks on what benefits you have available to them and provide benefits communication and a means of benefits administration that is accessible. It also helps to give them practical tips to make the most of their benefits.
3. Offer to various types of benefits
The benefits industry has changed to not only include standard health plans but also plans that cover mental health, financial wellness, overall wellness and a variety of benefit offerings including apps, podcasts and educational programs that help employees live healthier lives and often reduce their healthcare costs. Potential employees are seeking perks like gym memberships, wellness apps and other non-standard benefits that help make their lives easier and healthier. Caring about your employees and your colleagues’ well-being is key.
4. Take Care of them and they’ll take care of you
According to a recent survey, 8 in 10 employers say they care about their employees like family. Two in five employers said they would share lottery winnings with their employees and another one in five would donate a kidney to an employee in need. Clearly, employers care deeply about their teams’ well-being. By caring for them in tangible ways, they’re more likely to take care of you so keep that front of mind when deciding what benefits and perks to offer your employees. Simple gestures can go a long way!
Looking for more than just voluntary benefits? We also offer benefits administration, enrollment support and year-round advocacy and education. You can also click here for your free Business Guide to Voluntary Benefits!