Open enrollment season is a chance to vary your company's employee benefits, offering compensation that goes beyond salary and creates a connection between your business and its workers. If your organization mainly sticks to basic plans such as 401(k) retirement savings, it may be time to explore different options.
Identity theft protection plans represent a valuable new service that shows that you understand the current IT climate and care about keeping your employees safe from the all-too-common scourge of digital crime. When you consider the potential financial harm that comes with identity theft, offering formalized protection plans for your employees is simply an extension of other benefits strategies designed to keep your workers happy and secure.
Mastering the Open Enrollment Period
Making it simpler for employees to find benefits that fit their preferences is a good practice for human resources, individuals and the company as a whole. When it is easy for everyone to figure out what they want, and to perform all the behind-the-scenes paperwork necessary, businesses can focus on the stability and happiness of their teams. Rather than serving as a confusing or stressful part of the year, open enrollment can be a chance to deepen the bonds of loyalty so long as HR teams prepare.
Paychex's Worx blog pointed out that HR professionals should be ready to to handle benefits enrollment well in advance and tailor offerings to suit what their employees want, need or see the value of. Sometimes, especially when there are numerous plans available, HR departments can filter down the list to just the most appealing and interesting ones. Simplicity and clarity help the open enrollment period remain productive for HR and the employee base as a whole.
The general pattern of a successful and productive enrollment period involves plenty of communication. Paychex Worx reported that living up to this standard may mean offering up information - in both physical and digital formats - and simply being available to talk with employees. Giving them the facts they need, whether in person or indirectly, will have a huge impact on their satisfaction with benefits.
Employees happy with their benefits may feel strong loyalty bonds.
Finding the Right Education Style
As HR Dive recently explained, there are opportunities for employee education that many companies miss. What's not ideal is falling into a pattern of giving a huge amount of benefits information when bringing new hires aboard, then going back to the subject only when workers experience large-scale changes such as marriage or parenthood commit themselves to educating their employees on potential benefits even when nothing is going on.
Organizations will have to rethink their approach to benefits education if they with to provide sufficient information periodically and help workers find the right coverage. Given the fact that everyone benefits from a more informed system, it's easy to find the motivation. It's just a logistical matter of setting aside the time and resources to reach out to employees more often.
Consider Identity Theft Protection
When companies are looking for unique and useful benefits to offer their employees, they may have success with identity theft protection. The relevance of this option speaks for itself. Employees who keep an eye on the news are well aware that large databases of private information have leaked in recent years, creating an ever-present background threat of identity theft.
Companies that offer specific benefits that target real, relevant problems such as identity theft may make an especially compelling case to their workers. This can help strengthen relationships with top team members over time. Great workers aren't always available in the talent pool, so holding onto current teams is vital.
Reach out to Identity Guard Business Solutions to learn more about identity theft protection.