Benefits of Employee Engagement
Employee benefits do help in improving employee engagement. In fact, as employee engagement rises, more than ever we are seeing positive spinoffs such as:
- Lower employee turnover
- Improved customer satisfaction
- Elevated profitability
- Increases in productivity
- Reduction in absenteeism
- Improved morale
Read more in our article Employee Well Being & Productivity – Survey Results.
1. Employee Benefits That Drive Engagement
To date, improved employee engagement results are more of an unintended consequence than a calculated implementation on behalf of an employer. As employee benefits are implemented, employees become more engaged and the advantages can often be immediate.
Varying percentages of employers view the following benefits as being most favourable for improving employee engagement:
- Flexible Work Provisions — 39%
- Human Resources Policies — 34%
- A Healthy Work Environment — 29%
- On Site Flu Shots — 26%
Even though most of these are cultural benefits and not related to employee benefits plans, as much as 97% of plan sponsors and 88% of plan members currently under flex plans agree that they prefer these programs.
2. More Employee Benefits Choices Help Power More Engagement
Expanding traditional employee benefits plans to include individual decision-making capabilities prompt significantly more engagement than a prescribed list of benefits. Allowing a degree of control over benefits where employees can choose coverage most appropriate to their own needs helps to build confidence and trust.
Malleability does not mean more choices will increase employer administration complexity however. Alternative plans are possible without adding additional pressure to management or human resources.
3. Employee Benefits — Planning for Engagement
At Benefit Strategies Inc., we recommend that you consider an employee benefits plan design with employee engagement in mind. Focus on what is significant to your employees to help improve their percentage of engagement. Our employee benefits brokers can help you contemplate offerings that provide the best results, such as flexibility and financial literacy.
Employees, who feel financially prepared, experience less stress, are healthier overall, and do exhibit more engagement and productivity. Integrating financial planning courses into your employee benefits curriculum can have significant advantages for employers.
Communication is key to incorporating any change and will keep the process relatively painless for human resources and management to administer.
- Create circumstances where employees can provide feedback
- Review options and encourage employee interaction
- Highlight the well being of individual employees
Let our employee benefits brokers show you how you can propose new employee benefits features without completely disengaging from traditional plans. By increasing the opportunity for employee choices you will not only support positive health but also keep your employee benefits financially sustainable for the long term.
About Benefit Strategies
Located in Edmonton, Alberta, Benefit Strategies Inc. is here to help you create a flexible employee benefits package designed to interest and retain top employees. We provide value analyses backed with dependable advice, while working with the top benefits providers across Canada.
Whether your business is in Alberta, the Northwest Territories or any of the Western Provinces, our employee benefits brokers can help.
For more information, check out this article by Custom Insight entitled, What Is Employee Engagement.
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