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There are a number of curious terms and technical expressions that populate the world of employee benefits. Some, like 'protection' (insurance) can easily be deciphered, but others, like 'wellbeing' (with an emphasis on living a positive, healthy life) are a bit more elusive.
This creates challenges – but also opportunities – for employers to connect with people about the employee benefits on offer.
Organisations need to be able to effectively communicate with employees about what can sometimes be an unclear and intangible area. More and more employers are now recognising this. It’s a key reason why 4me, our digital employee benefits service, continues to grow.
Engaging employees with the right benefits
By talking about employee benefits in an engaging and relevant way, you can help provide employees with benefits they really need. The result? More employees actively review the range of benefits available and select those that suit them best, both now and in the future. This may include a gym membership, private medical insurance or childcare vouchers, or anything else that is required for a good work-life balance for your staff.
This approach is at the heart of 4me. For example, 4me has a function that aims to help people make the most of their current income. Clicking on a digital dashboard helps them spend less on the things they want and need now, both on the high street and online. 4me's pension planning tool, on the other hand, provides interactive tools to help employees plan for their retirement. Employees can explore the pension scheme options available – such as paying in more or looking at different ways to retire.
Employees have diverse needs at different points in their lives so it’s important to tailor benefits packages to suit an employee's age, life-stage, family status, health and financial needs.
The future of employee engagement
A considered, structured roll-out of appropriate benefits ensures that all your employees who have a particular need for a certain intervention get the right opportunity to access it. Empowering employees through good engagement is essential for the success of any organisation and helps to create a caring working environment.
When you give staff the opportunity to choose benefits they really want, you’re showing how much you value employee wellbeing - financial, mental and physical health. Choosing the right benefits package will support your employee health and wellbeing strategy.
In turn, a healthier company culture helps improve the productivity and success of an organisation.
For more information about communicating benefits and employee health and wellbeing, please contact your usual Barnett Waddingham consultant or get in touch here.
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