Do you have mixed feelings about the annual benefits open enrollment period? A mixture of dreading the extra workload and potential rate increases … while hoping employees recognize and cheer the value of the benefits and choices you offer. It’s the season for HR professionals and benefits brokers to fortify themselves with pumpkin spice lattes and start planning for success.
Better Benefits Attract and Retain Talent
A high-quality employee benefits package is one of the best tools in your arsenal to attract the right talent, enhance employee engagement, and retain your most valuable employees. According to a 2018 Harris Poll/Glassdoor survey nearly half (48 percent) of U.S. workers cited attractive company benefits and perks as key factors in their likelihood to apply for a job, and other surveys have found that excellent benefits play a role in retaining employees.
Employees today expect their employers to be creative, consider employee needs, make benefits easy to use, and offer them choices to help manage their lifestyles. Besides health insurance, benefits protecting their incomes, such as disability insurance, financial planning, and retirement savings plans are important. In addition, consider that employees are tech savvy and expect to have online tools and calculators, along with complete communications, to assist them in making decisions regarding their benefit options.
5 Steps for Success
To prepare for this year’s open enrollment, focus your efforts on designing the best benefits and communications program. Make the most of marketing your benefits programs to your employees by:
- Reviewing workforce demographics and benefits usage to get a better understanding of employees’ stages in the lifecycle.
Knowing your audience and targeting benefits communications to meet
those lifecycle needs makes the benefits more personal and relevant.
Employees with young families, older workers preparing for retirement,
empty nesters, and young singles all have distinctly different benefits
needs and interests.
- Packaging benefits by target group
with messaging that speaks to each group’s needs while consistently
reinforcing the overall benefits strategy and company branding in the
messaging. Different communications delivery systems may also be
important to different employee groups.
- Starting the
messaging with why the benefits are structured as they are and what the
company’s overall benefits strategy is designed to accomplish.
Don’t sugarcoat any bad news about changes in the benefits program.
Employees will see through it and resent attempts to hide changes that
may be perceived as negative. This is a good time to highlight the
important value of their benefits programs, promote wellness, encourage
retirement savings, and encourage cost-effective usage of benefits
- Keeping the messaging straightforward.
Provide clear information, checklists, and decision support tools that
are easy to follow. Have the details available but keep the key messages
and “what you need to do for enrollment” information central to the
- Bringing company managers and supervisors into the discussions prior to launch. Give them a heads up regarding the upcoming benefits changes and enlist their help in the process.
4 More Things to Consider
The next step is to tackle the “how” of the benefits communications and enrollment program, including:
- Communications delivery methods.
Electronic communications? Mobile apps? Webinars? In-person company
meetings? Text messages? Packages mailed to home addresses to involve
the family? Use of social media? Intranet messaging? Gaming techniques?
Frequent emails or instant messaging? Live hotline for questions and
concerns? Combination of all methods?
- Enrollment methods.
Online? Manual? Mobile? Make it as administratively simple as possible
for both employees and the benefits administration staff. Use electronic
tools if the budget allows.
- Timing. Establish
a timeline working backwards from the date that the information must be
completed with the carriers and other benefits providers. Then work
forward to deliver the communications program.
Employees need time to consider their options and allow the information
to soak in. Consider sending employee prompts and reminders so that the
enrollment process is completed in a timely manner.
The annual open enrollment communications opportunity is precious — you can influence how employees see benefits or cost changes, motivate employees to change their health or savings habits, and let employees know that management is listening, considering their feedback valuable, and responding to their needs.
Your benefits broker can be an invaluable resource for help understanding the ever-changing benefits landscape and communicating your offerings to your employees. Article Source: https://www.thinkhr.com/blog/planning-your-open-enrollment-for-success/