Transforming Benefits from Transactional Necessities to Strategic Drivers of Employee Engagement
Isn't it ironic that approximately 30% of healthcare spend may be considered waste yet it continues to be the 2nd driver of spend for most employers? This exposes a significant opportunity to improve costs while enhancing employee well-being.
Benefits are often viewed as a transactional necessity, rather than a strategic tool for employee engagement. It's time to change that narrative. Imagine a workplace where benefits aren't just perks, but powerful drivers of employee satisfaction and loyalty. This is the potential that lies within HR's reach.
Benefits touch every employee in some shape or form either proactively or reactively as they progress through their life and career. The average employee only pays attention during open enrollment; it’s a sad reality because some employers enable this approach; it’s the easier path than encouraging behavior change through ongoing education and marketing efforts. The employers that take the time to explain the origin of the benefits offered, get better participation. By structuring a timely, relevant and ongoing narrative that celebrates and encourages the real life impact benefits have on employee health and wellness will pay dividends.
We know that HR/People leaders put intentionality into the benefits design, but how often is that deliberate thought process shared with employees?
It’s time.
Reconsider this mysterious approach. People trust those who lead with transparency, which can unlock another form of motivation to better enable employees. As Daniel Pink eloquently summarized this concept, “humans, by their nature, seek purpose - to make a contribution and to be part of a cause greater and more enduring than themselves (Pink’s Drive, pg 223).” It’s commonly said that we spend the majority of our time at work, so it only makes sense for employers to foster this motivation.
How?
By creating environments that encourage mastery, autonomy, and purpose. Leverage your benefits as a vehicle to do exactly that through well documented, referable content, progressive offerings that address diverse life phases and needs, and organizing entry points. Most importantly, listen when employees provide tangible reasons for leaving your work. Identify and honor common trends such as, working moms not having enough flexibility, and explore the various options available to incorporate solutions. The program investment shows that feedback is taken seriously, and you’ll hear more honest feedback from your workforce. As leaders, you have the ability to initiate change.
By shifting our perspective and our approach towards actualizing benefits and prioritizing employee experience, HR leaders can create a more engaged, motivated, and loyal workforce. Benefits touch us in moments that matter, which when done right, will leave a lasting impact. HR/people teams hold the ability to change a life.
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