Every employer right now is looking to enrich employee engagement, satisfaction, and workplace culture to ultimately improve employee retention.
More than 4 million people have left their jobs each month in the U.S. so far this year — and according to new research, this record-breaking trend isn’t going to quit anytime soon.1
HR professionals are juggling a lot: constant demands, hiring needs, retention problems, the list goes on. But oftentimes, not knowing the questions to ask means many are maintaining status quo.
When employees feel they have organizational support that is focused on their well-being, they’re more likely to be engaged at work and less likely to jump ship.
There is hope.
Benefits have a unique ability to strengthen the bond between the employer and employee. You can enhance your employee experience by carefully reviewing your current benefit solutions and making sure you are asking the right questions.
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Is your provider checking the boxes?
Follow the checklist below. If you have blanks when finished, this could mean you don't have an expert in voluntary benefits to offer access to effective solutions to your employees.
Does your provider:
- Specialize in your industry or work with organizations of all types?
- Complete your open enrollment and hit the road, or are they available year-round?
- Have a dedicated team to make sure there is no gap in service expectations?
- Offer individual benefits education so employees understand their total compensation package?
- Educate and enroll new hires throughout the year?
- Support employees year-round with benefits questions and claim filing assistance?
- Give compliance guidance regarding state and federal laws? How familiar are they with the Patient Protection and Affordable Care Act (PPACA) and the Employee Retirement Income Security Act (ERISA) requirements?
- Conduct Dependent Verification Reviews?
- Have strong financial ratings? A.M. Best, the largest credit rating agency specializing in the insurance industry, analyzes the financial condition and operating performance of insurance companies. You should aim to have a provider in the A to A+ categories.
- Charge for any of these services: Benefits communication literature, Enrollment platform, Compliance, and Education
If you have blanks, you may be sacrificing value.
You don’t have to be an expert in voluntary benefits. You can offer access to effective solutions for your employees. All you need is a benefits partner who can complement your employee benefits. Look for a provider that can deliver the consistency and service you deserve and the manpower to educate and enroll your employees. Small changes may mean the difference in keeping or losing your greatest asset – your people.
This blog is up to date as of October 2022 and has not been updated for changes in the law, administration or current events.
