As an HR professional, attracting, motivating, and retaining top talents is a major concern. The costs associated with top-tier talents leaving the company are extensive, sometimes costing more than the lost employee’s annual salary.
Finding ways to address issues that are obstructing your efforts to engage employees can be a challenge, but there are ways to make this task easier on yourself, such as by leveraging the services of an employee benefits advisor.
How can an employee benefits advisor help you drive employee engagement, you ask? To help answer this question, we here at Simon Shirley Advisors have assembled a list of ways that an employee benefits advisor can help you drive employee engagement so that you can retain and attract top talents while keeping them at peak productivity.
#1: Providing Top-Notch Employee Benefits Schemes
First and foremost, an employee benefits advisor can help you find, evaluate, enact, and manage best-in-class employee benefits schemes for your employees. These specialists are dedicated to the task of keeping up to date with the latest benefits plans, such as for healthcare and pension.
An employee benefits advisor will do the research for you, leveraging years of experience and an in-depth knowledge of what plans are available, what your company’s budget is, and what your competitors are offering so that your company can have the most attractive set of employee benefits packages available without going over budget.
When employee benefits schemes are not up to standard for the industry, they become an annoyance factor that can contribute to disengagement among employees. With the right benefits schemes, you can create an incentive for employees to remain with your company, and even attract top talents from other organisations.
#2: Managing Implementation of a New Benefits Scheme
An employee benefits advisor does more than simply handpick a few of the best benefits schemes available at the time, they can also help you with the implementation and management of said schemes.
One of the biggest problems that employees have with their benefits schemes occurs when the company switches from an old benefits scheme to a new one: individuals getting passed over or missed during the process of signing up for the new benefits scheme.
For example, say that Bill from accounting gets accidentally missed during the new signup period for the updated healthcare programme. Unfortunately, Bill is not aware of this fact, and thinks that he’s been on the new plan just as long as every other employee in his department when he goes to redeem his medical benefit for a routine doctor’s visit, only to be told that he hasn’t been on the plan long enough (or is not on the plan at all), and has to pay out of pocket for that doctor’s visit. Naturally, this can lead to some frustration.
An employee benefits advisor can help you prevent problems such as this by handling the process of implementing the new benefits scheme for you. This minimises the risk that employees will fail to be signed up for the new benefits scheme, and make the process less disruptive for employees.
#3: Working with Your Employees after the Fact
Other than not being signed up for a new benefits scheme in a timely manner, one of the other major issues that frequently leads to employees being frustrated with a company’s benefits schemes is that the new rules for redeeming their benefits or the structure of the plan is unknown to them. Even if a benefits scheme has great benefits on paper, it will not do much good if it is too difficult for employees to navigate the scheme and redeem their benefits.
This is where an employee benefits advisor can be invaluable to boosting employee engagement. A benefits advisor is an expert in handling issues related to employee benefits. Using this expertise, the benefits advisor can walk your employees through the processes needed to take full advantage of their benefits schemes.
When employees know how they can get the most from their benefits programme(s), they are much more likely to see the value in the programme and see it as a motivational factor.
Beyond providing advice for using your company’s benefits schemes, an employee benefits advisor can also provide other forms of assistance. For example, Simon Shirley Advisors compensation & benefits experts also provide personal financial planning information, advice, and related services for your employees on a one-to-one basis, helping them create a solid financial plan for their future with your company.
Learn more about how you can leverage the services of an employee benefits advisor to maximise employee engagement in your company today!