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FEBRUARY, 2019

HR
PAYROLL

The Love Language of Employee Benefits

In part one of our Love Languages series, we talked about how Words of Affirmation can make all the difference in the performance reviews process. In part two of this five-part series, we’re discussing the love language: Acts of Service and how it applies to employee benefits.

How to Apply Acts of Service in the Workplace

Part of an employee’s vetting process in job hunting is checking out the benefits that come along with a position. Businesses that offer competitive employee benefits show future and current employees how much they appreciate their employees. When employees know their company cares about their health and well-being, businesses can gain a competitive advantage over other companies who are vying for the same candidates.

We all know the saying “actions speak louder than words.” When it comes to offering benefits, this saying definitely rings true for employees. Workers want to know the loyalty they give to their job is not one-sided. The best way to show employees they are in an equal partnership is by providing them with comprehensive benefits.

The Perks of Being an Employee

So what benefits should you offer your employees? It seems easy to go with the tried and true mix of benefits, like health coverage, paid time off, and retirement, but what do they exactly want? Is it enough to retain your top talent?

In the last twelve months, more than 72 percent of organizations increased their benefits offerings to retain their workforce. Organizations are kicking up their benefit packages, and it’s time to up the ante for your future and current employees.

Consider adding a few of these options to your benefits packages:

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Professional development and training

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Tuition reimbursement

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Workplace perks (casual dress codes, free food, and drinks)

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Wellness programs

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Workplace flexibility (flexible pay, hours, and schedules)

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Personalized healthcare

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Retirement savings and planning

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Paid volunteer time off

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Paid time off (vacation, sick, and personal time off)

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Travel stipends

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Paid maternity/paternity leave (adoption, foster, and surrogacy)

Some of these benefits come as no surprise, but there are a few specialized benefits that are worth considering. It’s important to have an open dialogue about what benefits and perks are most important to your workforce. Finding a good balance in the benefits package you offer will allow your company to retain a valuable workforce and maximize the money spent on benefits.

Using Acts of Service with Employee Benefits

Offering a great benefits package isn’t just good for employees. Employers can gain advantages from reevaluating their employee benefits:

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Attract New Talent: By offering a more desirable and complete benefits package, your company will stand out and prospective employees will take notice.

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Retain Existing Employees: It’s always more cost-effective to keep employees rather than replace and training new ones. Minimizing your turnover rate helps save time and money.

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Boost Employee Morale: When employees are satisfied with their benefits, they are satisfied with their job. Showing you care about your employees creates job loyalty and commitment.

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Increase Employee Health: Employees who receive quality healthcare are more likely to go to the doctor for regular check-ups and take more preventative measures to stay healthy. Offering sick leave can prevent contagious employees from making others sick, leading to less absenteeism company-wide.

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Improve Job Performance: Happier employees are more productive employees. They’re more willing to put their best foot forward day in and day out when they work for a company that provides great benefits.

Your Employees Matter

The greatest act of service companies can demonstrate to their employees is offering a benefits package with the employee in mind. Consider auditing your employee benefits packages and incorporating employee feedback on current and future benefits options. By taking care of your employees, your company will feel the love too.

Next: Part 3, The Love Language of Payroll.

How APS Can Help

APS provides cloud-based solutions for core HR processes, providing organizations with the technology they need to be more productive and efficient. With APS’s online platforms, HR managers can easily and paperlessly manage and track employee benefits. Online benefits administration simplifies open enrollment for both you and your employees. APS’ eSelfServe employee portal allows employees to personally and securely elect their desired benefits offered by your organization, with the appropriate deductions automatically calculated each pay period.

For more information, please visit www.apspayroll.com or call 855-945-7921.

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