The right benefits package can help you attract and retain top talent. That means less time hiring and training new employees, and more time investing in the ones that will grow with your company. Unfortunately, many managers find themselves at a loss of how to develop robust employee benefits packages. These suggestions can help provide some clarity.
Choose the Right Coverage
What you ultimately decide to include in a benefits package will be based on factors unique to your company and employees. Careful analysis and strategic planning can help management determine the right coverage options for your company. These are a few of the most popular options:
- Medical insurance
- Dental and vision benefits
- Wellness programming
- Paid time off
Use a Qualified Benefits Manager
Knowing what benefits to offer takes careful planning. You will need to comply with all applicable regulations and requirements, which can be complicated. Improper benefits administration can add to the cost of a benefits package. Working with a qualified benefits manager reduces the strain of this task. It also ensures you remain in compliance with applicable regulations, including helping employees navigate Affordable Care Act coverage options.
Communicate With Employees
Communication is key to success in business, and that includes administering benefits packages. Using printed literature, signage and live training sessions increases awareness and understanding of benefits options so workers can make informed choices during enrollment periods.
With planning, proper management and clear communication, you can maximize the effectiveness of your employee benefits packages to help attract and retain qualified staff.