Understanding Options

• From health care to 401k and dental choices, your associates are faced with many, sometimes confusing, decisions. Clearly communicate what each benefit selection means to your employees and their families. Use as many communication channels as possible, including written, online and verbal explanations. It is important for every associate to completely understand their benefit options, and then, with a full understanding of how these selections work, they can properly select the benefits they really need.
  
  

Retention Tool

• Your benefits package can also serve as a retention tool. Many employees do not understand the true value of their benefits program and how much your company invests in such things as healthcare, pensions, vacations and leaves. Communicate the costs and value to your associates and let them know how much is invested on their behalf. Assign costs to these benefits packages and inform all of your employees how they are increasing their salaries with these benefits. Retention increases and turnover decreases when the cost of employee benefits is communicated regularly.
  
  

Recruiting Tool

• Your benefits package can also serve as a wonderful recruiting tool for your organization. Communicate your benefits to prospective employees and post your benefits online for candidates to review. Prepare and distribute the benefits your company offers, and discuss them at career and job fairs and all of your recruiting efforts. Discuss your benefits options when speaking with the public and let all potential employees know what outstanding benefits they can select from when joining your organization. Your total compensation package, including benefits, can attract solid new associates to your company.
  
  

Legal Aspects

• Many federal, state and local regulations require your company to communicate your benefits options and choices to your employees on a regular basis. Open enrollment requirements, including dates and other vital information, must be communicated to all of your people. Disclosure statements concerning 401k programs, as well as eligibility requirements, matching percentages, and other detailed information must also be communicated to your associates on a regular basis. Eligibility information for vacation, leave, family medical leave, and other governmental programs also needs to be communicated to everyone in your organization.