Offering a great benefits plan for your employees is important to you as an employer. You know offering benefits can have some great advantages for you in terms of attracting and retaining talented employees for your business. More importantly, it can help you care for the valued members of your team, supporting them wherever life happens to take them.
The question many employers have is how they can offer the best possible group benefits program. In this day and age, offering great benefits is challenging for many reasons. Some employers are concerned about ever-increasing costs of benefit programs. Others wonder if what they offer is in step with what their employees really want from the program.
If you’ve been wondering how to improve your group benefits program, take a few of these steps.
Conduct a Survey
The first thing you should do if you’re wondering about your employee benefits is to take a survey. What do your employees think of what you offer them? Which benefits do they like, and which ones could they do without? Are there some they value more than others, or some they’d like you to add?
Conducting a survey can help you determine how well your current group benefits program is meeting your employees’ needs. Surveys should be conducted often. Be sure to implement a process for following up on survey results as well. Conducting regular reviews of your benefits program is a great idea.
Use an HRIS
The next thing you should consider is how easy it is to administer benefits. Is your HR staff spending hours processing claims, or can they be processed and sent to the insurance carrier with a couple of clicks? Do your employees have access to a self-service portal?
Improving the technology you use to deliver your group benefits program is key to easing the administrative burden of it. A human resource information system can help you here. The HRIS makes it easier to keep track of benefits trends and even compliance in your business. By collecting this information, you can make more informed decisions about how to better support your employees.
If you’re using an HRIS, you should know this technology has made it easier than ever to switch carriers. If your benefits provider doesn’t provide the best for your business’s unique needs any longer, there’s no reason you should feel obligated to stay with them. Instead, make the switch.
Switching carriers can help your benefits program grow even stronger. First, you may be able to lower costs or create more value in the program. A new structure or a different benefits package could be the right solution. You may even get better customer service. Finally, you’ll be able to provide the right benefits for your employees.
Talk to a Broker
If you’re struggling to find the time for your benefits program or you’re just not sure what options are available for you, it could be time to talk to a benefits broker. By partnering with a broker, you can leverage their experience and expertise to discover the best options on the benefits market.
The benefits broker may be able to point you towards a carrier with better benefits offerings for your business, or they may help you review the structure of your plan to give your employees more flexibility. A broker can help you build an even better group benefits program for your employees.