Considering the company benefit plan as a stand-alone, checked box, set it and leave it plan is like planning a road trip and not ensuring the tires are up to the journey. Yes, the tires are their own entity, but they are also a strategic part of the whole vehicle. It’s not like we’d get very far without them.
The same is true for those organizations who have “people-first” cultures with “total compensation” strategies. The shape and dimension of the benefit plan is a critical cog in ensuring these tactics work. Benefits are both the bridge and the cement that attracts and retains talent, BUT only when used as the strategic tool that it is. Having a benefit plan that is not properly aligned or openly promoted to staff is like hanging out your shingle for business in the middle of the desert at night without any illumination.
A complete waste of money, time and energy.
Put another way, it’s not enough to profess a work-life balance, if we don’t provide a means for employees to actually achieve the balance.
Recently, I heard someone complain about an employee not knowing how to properly use their benefit plan. I asked how often the benefit plan was discussed. Promoted even. Aligned with the other corporate initiatives. “Well, no, it’s not,” the person replied, then shrugged. “The employee should know. We provide them with their booklet and on-line access.”
A busy digital world
Sometimes I think if I have to navigate one more, stand-alone app on my phone, I will scream. Yet we assume telling an employee once will be enough.
There are a lot of moving parts to a benefit plan. If the communication strategy is not carefully considered for roll out and on-going support, then we are back to the wheels on the car being flat and expecting them to now take us kilometers away. We’d be lucky to get out of the driveway!
Where culture takes shape
Is there an opportunity to bring portions of the plan up during safety or team meetings and align some aspect of the package with the topic of the day? Even two-minutes makes the world of difference in facilitating engagement and promoting how the various offerings on the benefit plan is there to serve the employees, keep them safe and health, while fostering work-life balance.
Consider how the staff engage with customers. When was the last time hearing aids was promoted as a benefit offering. How about orthotics or compression hose for those on their feet all day?
This is where checking the tire pressure and tread could be the difference between reaching the destination safely or needing roadside assistance.
The return on investment
This only matters if there is a financial gain for all.
When benefits are removed from the silo and incorporated into the day-to-day business lifeblood, organizations see the returns through “fit-for-work”, “ready for duty”, engaged employees who are more productive.
Benefits are:
· Targeted, but flexible
· Tax efficient for both employer and employee
· Strategically aligned to compensation, safety, productivity and engagement
Let’s have a conversation.
Reach out if you would like to explore your corporate benefit options, like:
· Keys to strategic benefit planning
· Short Term Disability verses Employment Insurance.
· Employee Assistance Programs
· Using health spending accounts as the non-taxable bonus to align with the Group RRSP
Note: this was written without the aid of Artificial Intelligence (AI)
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