Companies offer a wide range of employee benefits, but studies have shown that there are a few benefits that employees value the most. Let’s review them:
Health Benefits — Benefits to support the health of employees and their families consistently remain at the top of preferred benefits. Many employees will base their decision on staying with or leaving a company based on their health benefits. There are normally two types of health insurance available to employees:
- Group health insurance — A more traditional approach for many companies is a group policy purchased from an insurance company. This offers employees a standardized set of benefits under the policy. Larger companies benefit from group policies as they can get better rates.
- Healthcare reimbursement — Another option for companies is to offer a healthcare reimbursement arrangement, or HRA, which offers employees a chance to purchase the insurance coverage they desire which is then reimbursed by the company. Some HRA plans can also pay for selected out of pocket expenses.
Retirement Plans — Retirement programs are more traditional, and some companies are eliminating classic pensions for employee-funded savings plans. Retirement plans help employees save money toward retirement when they may be unable to do so on their own.
Workplace and Working Hours Flexibility — Employees value workplaces where they have some flexibility either in their working schedule or knowing they have paid leave for illnesses. Also, having flexibility to take a day off even without pay when needed can be a deciding factor to remain with a company.
Wellness Programs — Access to on-site or off-site wellness programs is popular with employees. These programs are varied and can include:
- Either a gym at the company or a local membership
- Wellness newsletters with tips for maintaining good healthv
- Exercise classes
- Classes to end smoking
- Stress management training
- Other wellness-related subjects
All of these programs help both employees and their companies by giving them a sense of wellbeing which can relate to better employee productivity.
Tuition Reimbursement — Many employees would like to either further their education or learn new skills to make them eligible for higher-paying assignments in a company. Tuition reimbursement is a popular employee benefit for that reason.
If your company is looking for effective ways to communicate benefit programs to your employees, consider First Day Films. We create effective employee benefit and health insurance eduction videos that can keep employees informed of benefit programs available to them. For more information call 833-422-7332.