Want to Increase Employee Engagement After a Year of COVID-19? Try Worksite Benefits.
Organizations spend a lot of time and energy not only creating their benefits packages, but also forming strategies that will help their employees engage with those benefits. After all, what good does a customized benefit strategy do if employees aren’t aware of the offerings at their disposal?
Employers who are looking to increase engagement with their benefit programs after a year of setbacks caused by COVID-19 may find a solution in an unlikely place: worksite benefits.
What are worksite benefits?
Worksite benefits, or voluntary benefits, are lines of coverage beyond health care programs that employers can offer to their employees to add value and increase wellbeing. Premiums are paid by employees with little to no cost incurred by the company.
A few examples of worksite benefits include:
- Critical Illness
- Hospital Indemnity
- Permanent Life Insurance with Long Term Care
- Student Loan Repayment & College Savings Programs
- Pet Insurance
- Identity Theft Protection
- Legal Services Programs
How can worksite benefits encourage employee engagement during enrollment?
Many employee engagement strategies require extra time and resources from your human resources team. You may find that your organization forgoes opportunities to utilize enrollment solutions like one-on-one enrollment counselors because of the cost barrier.
Worksite benefits can be the funding mechanism for so many great forms of communication and engagement. By strategically offering these types of plans, M3 helps clients source robust technology solutions at low-to-no-cost. These solutions include mobile apps, online enrollment tools and ongoing benefits administration solutions – all options for employers who want to increase engagement with their benefits during enrollment.
I know what you’re thinking – does this approach actually work? I’ve worked with a number of clients to utilize worksite benefits as a funding tool for enrollment counseling services through one of our enrollment firm partners. Below, you’ll see the data to back up the efficacy of these counseling services. (Source: Clarity)
Client #1: A Wisconsin-based senior living provider
- 96% of employees felt that their knowledge of benefits offered increased after meeting with a counselor
- 86% of employees wanted to utilize this enrollment format again the next year
- “This experience was extremely effective and I am grateful for the explanations and clarifications given to me by my counselor. The experience was a very positive one.”
- “I feel I’m well versed in benefits comprehension so my questions are quite specific. My counselor was exceptional in quickly understanding the detailed nature of my clarifying questions, and then giving a clear answer. Definitely would work with her again!”
Client #2: A nationwide food share
- 100% of employees found that this experience was helpful.
- “Very good way to elect benefits – there is someone to answer questions during enrollment in real time, rather than by email or chat line or phone.”
- “I would say it was successful and probably the fastest I have ever enrolled in my benefits.
Client #3: A car dealership
- 98% of employees found that this experience was helpful.
- 88% of employees felt that their knowledge of benefits offered increased after meeting with a counselor.
Benefits strategy and enrollment can be complicated, but employers can rely on their insurance advisors for innovative strategies like this one to not only boost the value of their benefits, but also increase employee engagement with their benefits after a year of COVID-19. If you are interested in taking a more personalized approach to benefits to increase engagement this year, reach out to your M3 account executive to explore your options.