Good news abounds for our economy, but a changing business environment equals changes for employers. The low national unemployment rate means that workers have a bit more power in choosing jobs that best suit their needs and desires, and employers must become a bit more competitive in return.
While health insurance and other benefits will always remain at the top of most prospective workers’ wish lists, we’re definitely seeing some changes in those preferences. The one-size-fits-all approach to healthcare plans and wellness programs is increasingly being replaced by a smorgasbord of options. Today’s workers want a menu of options, so that they can keep their current physicians, seek specialized care, engage in specific wellness programs, and essentially structure their benefits plans to best meet their individual needs.
When you’re developing a health and wellness program for your company, consider the following three factors.
Check out the competition. You already know that in business, it’s important to keep your eye on trends. After overall compensation, benefits programs are the second most important important factor to workers looking for new employment. Investigate options offered by similar employers, and seek to keep your benefits program competitive.
Communicate with current and prospective employees. Good leaders know that involving the whole team in important decisions makes everyone happier with the final outcome. Ask employees what health benefits or wellness programs are most important to them, and how you can improve the workplace for everyone.
Offer customizable benefits. The team’s desires might sometimes overshadow the individual’s needs. Offering a customizable menu of health and wellness options is the best way to ensure that each employee is satisfied with their benefits package. And of course, we know that healthy, happy employees are loyal and productive workers.
Some of today’s popular customizable options include:
- Allowing employees to choose specific hospitals or doctors
- Different levels of healthcare plans (with different deductibles and premiums)
- Flexible work options
- Employee family leave
- Life and/or disability insurance
- Employee discounts to local retailers or attractions
- Wearable device allowances
- Health club memberships or onsite gyms
- Identity theft protection
- Financial planning resources
- Pet insurance
Contact us to learn more about customizable health and wellness benefits. We can help you put together a menu of popular options, to appeal to today’s diversified and discerning workforce.