Attracting and Retaining Top Talent With Benefits

Hiring and keeping top talent has become increasingly difficult, and human resources professionals are beginning to leverage employee benefits as a recruitment and retention tool. According to a 2016 study by the Society for Human Resource Management (SHRM), health care benefits are most important to employees, with 95% stating it is currently most important to them and 89% stating it is most important to them in the next 3 to 5 years. This provides great opportunity for HR professionals to meet the needs of their employees and provide customized solutions that address all of their requirements.

Leveraging benefits strategically can be the perfect tool towards attracting top talent. In fact, some benefit packages like Ultimate Health are specifically designed for top talent, giving them tax incentives and 100% back on healthcare coverage. Plans like these go above and beyond the norm to really take care of executives and upper management. Some of these benefits include private hospital rooms, LASIK, brand name prescriptions, adult orthodontia, and more.

“Organizations that have already started to alter their benefits to aid in retention may have a strategic advantage,” said Karen Wessels, researcher for workforce planning at SHRM. “As early adopters of new benefits, or by finding innovative ways to leverage their existing benefits, organizations that are acting now may be able to reaffirm a positive employer brand before competition for talent gets even more intense.”

The survey also revealed that nearly 1/5 of HR professionals altered their benefits to aid in the retention of employees over the past twelve months, and of these, 3/5 altered their health care benefits.

The proper benefits package can ultimately be more powerful than bonuses. To learn more about how to customize benefit solutions for your employees or executive benefits packages, feel free to Contact Us !

Free Webinar – Using Ultimate Health as a Retention Tool and Differentiator

Attracting and retaining top talent is a major priority for most businesses, especially members of the executive staff. Executive benefits are designed to provide your top employees with a higher level of benefits and compensation. These benefits can be designed to provide tax advantage for both employers and employees and get company decision -makers back 100% coverage.

Did you know?

Ultimate health covers typical employee out-of-pocket costs like co-pays, deductibles, and balance bills and will cover what most primary plans won’t in addition to healthcare expenses such as:

  • LASIK
  • Adult Braces
  • Dental Implants
  • And Much More

In this webinar you’ll learn:

  • What ultimate health is and why it’s not restricted by ACA
  • How ultimate health compares against HSA, FSA, HRA and other plans
  • How to use ultimate health to attract and retain talent
  • Why company decision makers choose this plan

Date and Time

Wednesday May 31, 2017 at 2:00 PM (EST)

Who Should Attend?

Human Resources professionals, benefits specialists, CFO’s, CEO’s, and anyone interested in learning more about how a supplemental medical expense and limited group insurance policy like Ultimate Health can attract and retain employees.

Communicating Benefits Effectively to Employees

You could have a great benefits package with plenty of perks, but if you aren’t communicating these benefits effectively to your employees, they may not truly understand what they have or what is available to them. Properly communicating your benefits package to employees is equally as important as choosing what benefits you will be offering. After all, if your employees don’t know what they have, how will they use it? So, what can you do to educate your employees and bridge that communication gap?

Verbal Communication

  • Consider allowing only Human Resources personnel to discuss benefits information with employees. Misinformation by anybody else could cause employee relations problems and have the possibility of causing litigation.
  • Avoid making any promises regarding any aspect of the benefits plan that the company may not be able to complete, whether saying it formally or informally
  • Inform your employees as early and often as possible of the benefits available to them. New hires and open enrollment periods are perfect for initial and ongoing discussion to ensure everyone remains up-to-date
  • Provide a number for employees to call when they have questions about their employee benefits plans. If you have detailed questions your human resources professionals don’t know the answers to, your broker is a good point of contact.

Written Communication

  • Keep a copy of each communication or disclosure sent to employees
  • Educate your employees with materials via email or newsletters that can give them bits of information at different times throughout the year to keep them informed of all of your benefits offerings.
  • Provide each employee with a copy of your benefits handbook and direct them on how to find any information they would readily need
  • Ask for feedback – survey your employees to gauge their level of understanding and what they feel could improve their experience most

At Faison Group, we strive ourselves in providing all of the benefits offerings you need along with implementation and communication resources.