When it’s time to start looking at new benefits for your employees, following the current trends is something you should avoid. Every small business has their own individual environment, and what’s perfect for one business may not be suitable for yours. In order to appeal to new employees and keep your current ones happy, you need to involve your team in the selection process. Here are a few tips to consider when choosing benefits for your employees:
1. Take Diversity into Account
The generational differences amongst your employees will play a very important role when it comes to selecting the right benefits for your workforce. It can be difficult to choose benefits that will satisfy each generation because they all have different values. For example, millennials are likely looking for student loan assistance and PTO, whereas boomers are typically more interested in retirement plans and health insurance.
2. Make Wellness a Priority
A healthy employee is a productive employee. Providing good health benefits is one of the best ways to show your employees how much you value them, however, this does not end at offering gym memberships.
Make sure to get everyone involved in this plan for a healthier workplace, and that your employees hold each other accountable. This will help your small business better its culture and enhance the bonds amongst your workers. Once everyone is involved, incentivize healthy lifestyle choices by offering things like premium reimbursements and other rewards.
3. Communication, Communication, Communication
Education and transparency are the two best ways to maintain the happiness of your workers. By thoroughly explaining to them what exactly they should expect and educating them on the process, you will make them feel important and in turn increase their quality of work. Make sure to ask for their feedback during this process–after all, this will greatly affect your turnover rates.
4. Look into Fringe Benefits
Fringe benefits, such as flexible scheduling, working from home, and student loan assistance have become increasingly more popular. Offering these types of extra benefits may sway future prospects towards your direction over a company that does not offer them.
After you’ve discussed and implemented your new benefits plan with your team, you will need to continually reassess it to make sure that everyone is happy. Get feedback from your employees and ask them how you can improve, what’s working, and what’s not working. Checking in with your team will allow you to be prepared for the changes that are needed.
At Delta, we’re no strangers to employee benefits. We know that this can be a very time-consuming and confusing process, and we’re here to make it easier for you. Contact us today to learn how a PEO can help you offer Fortune 500 benefits to your employees without the hefty price tag!