We are welcoming a new generation into the workforce. Just as your business practices and offerings are constantly evolving to keep up with emerging technologies and trends, you should always be looking for new ways to support your employees as well.
This new generation of employees is challenging business owners to offer more flexibility and opportunity than ever before. One of the best places for you to start is employee education, specifically, benefits education.
Your new employee is likely already overwhelmed by all that comes with transferring into a new job; especially, if they are a young, recent graduate just entering the workforce. Taking the time to educate them on employee benefits is an excellent way to alleviate much confusion. It will also start your new relationship with them on an ideal foot by showing how much you care.
So, how can you make sure your employees are not a part of the large majority, 93% of people, according to UnitedHealthcare, who don’t understand basic insurance terms?
- Offer benefits 101 initiatives. These programs and resources should cover all insurance basics from common terms, advantages, disadvantages of different coverage options, and details on enrollment periods and restrictions. The earlier employees grasp this foundational knowledge the more they can maximize the benefits your company offers.
- Explain why it is worth it. Put into perspective why it is best your young employees learn these concepts sooner rather than later. It would help if you lay out the advantages and long-term benefits of understanding these concepts, such as financial savings, the ability to make smarter health care choices, and potential investment opportunities.
- Get creative with your messaging. The more engaging you make these resources the more effective your efforts will be. Consider utilizing multiple formats such as emails, PowerPoint presentations, videos, posters, brochures, and packets from insurance providers.
- Do not make it a one-time thing. Understanding benefits and insurance is not something a person picks up, like riding a bike. It also is not a topic that you can cram for the night before a big test and then forget about the next day. Benefits literacy is something that you need to kick off with and continue prioritizing throughout the year. As your employees grow throughout their time with your company and experience other significant life changes such as marriage or children, their needs will change. There will always be something new to learn. So, consider scheduling events or communication plans throughout the year that focus on different topics.
- Be available. Be open to and encourage your employees to ask questions. Delegate either a human resources team member or yourself as a benefits representative or a go-to person for all benefits-related questions. This person should be available for email discussions and meetings (either physical or virtual). Encouraging this transparency level may make your employees feel more comfortable asking questions that they may not want to ask in front of the whole team.
Educating employees on benefits can ultimately help both you as an employer, and your team save money! To further your benefits education or change your benefits package offerings, contact your local and trusted Avery Hall agent.