Benefits That Matter: Five Ways Employers Can Get the Most Value from Voluntary Benefits
Once considered just a "nice extra," voluntary benefits are now an essential element in the benefit program most employers use to attract and retain employees.
With voluntary benefits employees can choose products that complement their company-sponsored core benefits and round out a benefit portfolio that suits their individual needs. Traditional voluntary benefits include gap coverage and supplemental policies to cover things like short-term disability, cancer, critical illness, and dental and hospital treatment. More modern programs expand into the realms of personal and lifestyle improvement, with offerings like banking and buying options as well as lifestyle and convenience programs.
In Benefits That Matter: Five Ways Employers Can Get the Most Value from Voluntary Benefits, we explore 5 key ways to get value out of a voluntary benefits program:
- Offer an array of voluntary benefits in your employee benefits package
- Leverage the vital recruitment and retention role that voluntary benefits play
- Include non-traditional voluntary benefits to guarantee customization
- Tailor communications to help employees understand everything that’s available to them
- Use data and technology to provide more efficient, effective voluntary benefit programs