At a time when many business owners are having trouble filling job openings, more and more employers are realizing that offering better benefit packages might greatly assist their recruiting efforts. 

Studies have supported this approach over the years.  For example, a Ranstad US survey found that 66 percent of workers say that the biggest determining factor in choosing a job is the prospective employer’s benefit package.

Finding the Best Plans

But with so many employee benefit plans available, how can companies be confident that they have checked out all the options they can afford?

That’s where insurance brokerage firms come in.

“Insurance brokers help business owners get the biggest bang for their buck where benefits are concerned,” said Jerry Calistri, President and CEO of the insurance brokerage firm Swift Kennedy & Associates. 

“Agencies like ours shop around and compare the employee benefit plans offered by all the major insurance carriers in the region, and then we present employers with their best options,” he said.

Greener Pastures

While good benefit packages are vital in attracting the best workers, it is also critical for employees to recognize the value of their benefits after they have been hired, so that they are not tempted to join the many workers who have left jobs when they have found better benefits or perks elsewhere.

But employees need to understand their benefits in order to appreciate them.  So, how can employers help reduce employee confusion over benefit packages?

One very effective way for a business owner to help employees comprehend their benefits is to upgrade the company’s benefit administration by replacing its paper-based benefit system with a digital one.

Enhanced Benefit Experience

Not only do digital benefit platforms allow employees to have a clearer understanding of their choices, but they also help them to make better informed enrollment decisions by providing them with online support aids like plan comparison tools, cost calculators, provider directories, and videos, as well as online benefit summaries. 

In addition, these systems can speed up the benefit enrollment process, since digital platforms reduce the number of errors that are so common with manual applications.  As a result, employees often receive their insurance identification cards and other information more quickly, which most workers appreciate.

Furthermore, digital benefit administration enables employees to access their benefit information 24/7 year-round, a feature that is particularly valued by millennials and Gen Z employees.

Other Advantages

Digital benefit systems also offer employers tools that help with absence management, federal regulatory compliance, tax forms, bills, payroll integration, and other important aspects of human resources.  This allows a company’s HR staff to spend more time on employee training, professional development and engagement – all of which are popular with employees.

In addition, these systems allow employers to access claims data, which enables them to select the most appropriate benefit plans for their workers. “The combination of good benefit packages and digital systems that enhance employee benefit experiences not only helps business owners attract and keep the best workers, but it also enables them to concentrate less on recruitment and retention and more on what they do best – running their companies!” said Calistri.