Are you unsure if your employees fully understand the benefits that your company offers? If so, you’re not alone. Nearly half of all employees do not fully understand their benefits packages. This lack of understanding can lead to a number of problems, including low morale, high turnover rates, and decreased productivity.
So how can you ensure that your employees understand their benefits? Here are a few tips:
#1 – Clearly communicate your benefits package to your employees. Make sure that your employees have access to a clear and concise summary of their benefits, including any eligibility requirements. They should be able to access this information quickly and easily at any time using self-service tools.
#2 – Offer regular training sessions or workshops to educate your employees about their benefits. These sessions can be conducted in person or online, and can cover topics such as how to use their health insurance, investing in retirement plans, and getting the most out of their HSA and FSA accounts.
💡Pro-tip: record training workshops and place them in a video library in your benefits administration portal so that employees can view them on-demand and at their own pace. Video messaging tools like Loom are perfect for this.
#3 – Encourage your employees to ask questions. Facilitate an open dialogue about benefits, and make it clear on who your employees should go to with any questions they may have. You should have a dedicated resource available to help educate them.
#4 – Consider offering personalized benefits counseling. This is a great way to help employees enroll in plans that are the best fit for their situation. And, can be especially helpful for employees who have unique needs or are facing specific life events (e.g., having a child, getting married, etc.).
Taking the time to equip your employees with resources to understand their benefits pays off in the long run. By creating a culture of transparency and trust, your employees will be more engaged and ultimately able to experience the full “benefits” of their benefits.