Offering voluntary benefits is a great way to enhance your benefits package, differentiate from competitors and increase employee satisfaction with little impact on your budget. While employers may offer various types of voluntary benefits that provide convenience and value for employees, many employees do not understand the advantages of these benefit options or are unclear how they work. Educating employees on the advantages of these voluntary benefits is important so that you both can reap the rewards.
When compared to employer-sponsored benefits, many employees may fail to see the value of voluntary benefits that they must personally finance. When promoting voluntary benefit options, discuss the benefits of having coverage, the risks of going without and emphasize the convenience and value of purchasing through the company and paying through payroll deductions.
It is important that employees fully understand their policy so that misunderstanding does not lead to resentment toward the employer.
When offering any benefit option, employer-paid or voluntary, you should be sure your employees understand exactly how the coverage works. Here are a few ways to make sure your employees are educated about their benefits:
• Invite current employees to the benefits meetings provided for newly hired individuals.
• Many voluntary benefits providers are willing to send a representative to discuss their coverage with employees.
• While most benefits administrators don’t have time to meet individually with employees, consider scheduling small-group meetings with a few employees who have questions.
• Enhance your existing benefits communication program with social media. Social media provides a convenient and effective way to reach out to your employees with educational information, tips and reminders.
In addition to boosting participation in your voluntary benefits programs, providing this meaningful education can position you as a valuable source of knowledge and strengthen employee satisfaction and loyalty to your company.