4 Tips for Personalizing Benefits to Your Company’s Needs
| 3 min read
Offering employees a robust benefits package can make all the difference between recruiting talented employees and having them choose to work for competitors instead. But benefit packages aren’t one-size-fits-all, as employee benefits for a larger company will cost too much for a smaller company, and benefits for a smaller company may not suffice for a larger one. You need to come up with a plan that will fit your specific business needs while still appealing to job candidates. Here are four tips to help you come up with the perfect mix of employee benefits for your company:
- Reduce unnecessary uses of health care. Think your employees would be interested in a program that keeps the quality of health care up and costs down? Help spread the word about the patient-centered medical home (PCMH) program and choosing a PCMP doctor. In a patient-centered medical home, one doctor leads a care team that works together seamlessly, focusing on proactively keeping a patient healthy. Studies show that PCMH practices reduce unnecessary use of health care by as much as 19 percent, meaning a program like this could ultimately save your business money.
- Give your employees the power. Private exchanges are a way to put the power of choosing a health insurance plan in the hands of your employees. Through an interactive, online marketplace, employees are able to shop for health plans that fit their individualized needs. Private exchanges could be good choices for those in the manufacturing industry, since different employees will have different health care needs. You can offer different insurance plans geared towards each of your employee segments, from your newest operations manager to contractors and soon to-be retirees. For more information on private exchanges and to see if they’re a fit for your business, read more here.
- Think bigger than health insurance. It’s not enough to just offer your employee’s health insurance, but having a more comprehensive package will appear more attractive to potential employees. It may surprise you that vision disorders alone account for more than $8 billion in lost productivity each year, which could highly impact your business and the health of your employees. But by having a comprehensive benefits package, which includes vision and dental coverage, your company will appear more attractive to talented candidates, and can even possibly prevent some of these issues with employees down the road. If you’re looking for tailored vision and dental plans for your business, Blue Cross Blue Shield of Michigan offers various plans to fit your company’s budget and needs.
- Give health and get happier employees. If you want to add a few more appealing offerings, wellness programs are a great way to do so without needing to spend a lot of money. For example, if this means giving a designated amount of money to employees for weight loss programs, fitness activities, or more, make it a benefit in your office. If you think your employees could be more motivated by incentives, offering weight loss competitions or incentives for fitness and health accomplishments might be the right route to get your employees motivated.
For more tips on giving your employees the best experience at your company, check out these blogs:
- Give your employees the power of health
- 3 focus areas to improve workplace culture
- It’s Clear to See: Offering Dental and Vision Insurance is Good for Business
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