A staggering 75% of employees were more interested in their benefits in 2020 in comparison to just one year before.
Benefits have been catapulted up the agenda since the global pandemic with physical, mental, and financial wellbeing now even more of a focus than they were as a result.
Before, benefits played a huge role in supporting employees, but now it’s even more crucial for organizations to get their benefits offerings right as employees expectations rise.
So how can you deliver a great benefits experience your employees really want?
Let’s take a look at the role of benefits for driving great experiences and how HR technology can help.
Great benefits mean great experiences for your people
Great benefits go a long way to help employees feel appreciated by their organization which, in turn, contributes to a great employee experience, and drives engagement and productivity.
In fact, three-quarters (75%) of employees are more likely to stay with their employer because of their benefits package.
Offering benefits, such as medical and dental care, are key to providing a sense of security as employees don’t need to worry about funding it themselves. They can make a real difference to employees’ lives and move the needle on how supported they feel by their organization.
But first, you need some benefits tech to help
While the types of benefits you offer are vital for great employee experiences, so is the tech you use.
HR leaders can encourage benefits uptake if they have a system that supports great employee experiences. Not only that, but the right system should also arm your HR team with vital reporting on the benefits you offer to gain insight on what your employees really value. This information can help HR guide employees through the enrollment process and suggest benefits that best fit their circumstances.
But finding the right benefits system isn’t always easy. To help you out, we’ve rounded up the top 5 things to look for in a benefits system so you can deliver great employee experiences for your people.
Integrates well with an HR and People platform
As humans, we’re creatures of habit. We like systems we’re familiar with and software we know how to use.
So, first things first, find a system that has benefits integrated with the rest of your HR and People system. This means that your employees can find their benefits information alongside their holiday and salary information all in one place.
This also makes reporting more convenient for your HR team as there’s just one system of record so you can pull reports all from the same place. When the reporting process is easier, HR teams then can analyze the benefits employees are actually using and evolve the HR strategy and benefits offerings based on this, so you can elevate the employee experience as a result.
It’s a well-known fact that strong employee experiences start with good communication, so you don’t have to settle for a benefits system that speak to your people in a generic way; find a system where you can customize the message.
You know your employees better than anyone else in the business, so being able to customize your content and messaging through a benefits platform will make your communications more efficient and effective. This empowers employees to go into enrollment with their eyes wide open and understand their benefits thoroughly in the context of the organization.
Library of educational content
One third of employees don’t understand their health benefits. If that’s the case for health, what do employees really know about the other benefits they have?
While many employers agree it’s their responsibility to educate employees on their benefits offering, most don’t know where to start, making on-hand resources vital to your benefits system.
Find a benefits system that has a robust education library on the majority (if not all) the benefits being offered, so your HR team has resources to help educate employees if they’re unfamiliar. Additionally, you want your employees to be able to easily access this library so they have the resources they need whenever they need them.
For both HR and employees, enrollment is historically a tedious, confusing process that no one looks forward to – but these days, it doesn’t have to be.
If you’re implementing benefits management software, you want to make the shopping experience user-friendly in a similar way to how your employees would shop online.
Find a system that makes enrollment easy and familiar. This often means including key information at the point of purchase, allowing employees to select and de-select their benefits, and providing an opportunity for them to review and finalize their choices.
Benefits shopping should feel like any other online shopping experience, complete with a shopping cart and check-out process. The familiarity will make the process more comfortable and easier to navigate which will make the experience quick and easy.
Advanced decision support
While a consumer-friendly shopping experience is a must-have in your benefits administration software, so is decision support to help employees feel confident in the benefits they enroll in. Decision support means employees receive personalized recommendations that are completely integrated into the shopping experience.
Your benefits software should guide employees through enrollment by recommending plans based on knowledge already available, such as their demographics, location, family status, and other factors. The software can suggest choices so that employees are seeing the benefits that are likely most aligned to them, so they don’t have to trawl through information that isn’t relevant to them and their needs.
Get the right benefits software that supports everyone
Ultimately, the right benefits software should have the employee experience front and center – but it should also provide your HR team with a more convenient, seamless experience too.
The days of HR teams sifting through different plans to decide which benefits are right for each employee group are over. Benefits software can take the headache out of this for HR, make reporting a breeze, and so much more.
By implementing the right software for your organization, you can continue to elevate your benefits that drive great experiences for you and your employees alike. What are you waiting for?
Ready to get a complete view of benefits across your organization and streamline your HR benefits processes? Explore Sage People and our benefits administration software, today.
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