how to market employee benefits

Apply What Infomercials Have Mastered to Marketing Employee Benefits

1. The Pitchman These are your influencers; the people who are going to talk up your benefits. Influencers aren't CEOs or CHROs. ...
2. The Demonstration These are your testimonials; the place where your pitchmen "taste the food and then tell people what they think," says Dave. ...
3. "Act Now!"

Full Answer

How do you market your company benefits?

Effective marketing of the total rewards your company provides isn’t just a supped up Glassdoor company profile or a blog and branding package with the Muse. It all starts with research and understanding what’s most important about the company benefits offered not to your executive team but your employees.

How can you improve your employee benefit marketing?

Here are some time-tested ways to improve your employee benefit marketing results, while increasing awareness and the perceived value of benefits for your workforce. Use as many of them as possible to keep your employees from shopping around for benefits elsewhere. 1. Make Benefits a Part of Overall Employee Compensation Communication

What is considered a benefit from an employer?

Basically, any kind of non-wage gain attached to an employee’s position can be classified as an employee benefit, be it mandatory or voluntarily given by an employer. Why do employers offer benefits to employees?

How to increase the value of your employees?

Use employee benefits as one of many perks and benefits of working with your company, added alongside salary and special incentives that are offered to employees. This enhances the perceived value. 2. Create Marketing Materials That Speak to the Needs of Employees

What are the 4 major types of employee benefits?

There are four major types of employee benefits many employers offer: medical insurance, life insurance, disability insurance, and retirement plans. Below, we've loosely categorized these types of employee benefits and given a basic definition of each.

How do you value employee benefits?

Find the benefit load by adding the total annual costs of all employees' perks and divide it by all employees' annual salaries to determine a ratio — that ratio is your company's benefits load.

How do you present a company benefit?

Here are 5 ways you can make your employee benefit presentations fun:Make them interactive. Give your employees interactive handouts to follow along with the presentation. ... Make them visually stimulating. It's no surprise that most benefits presentations are very data driven. ... Make them concise. ... Make them virtual.

How do you evaluate a benefit package?

Evaluating employee benefits packages: 7 tips to considerWhat is the cost share? ... What is covered? ... How extensive is the health care provider network? ... What is the plan type? ... How much are deductibles, co-pays, co-insurance, and premiums? ... What benefits do you and your employees absolutely need?More items...•

How much is a typical benefits package worth?

The average benefits package is over 30% of an employee's compensation.

How do you announce new employee benefits?

Before introducing new benefits, develop a communications strategy with personalized message topics to share with each employee group. Use their preferred communication methods to share these messages. For example, initially send a personalized message to each employee telling them about a new benefit.

How do you make a benefit package?

How to Design an Employee Benefits ProgramStep 1: Identify the organization's benefits objectives and budget. ... Step 2: Conduct a needs assessment. ... Step 3: Formulate a benefits plan program. ... Step 4: Communicate the benefits plan to employees.More items...

How do you manage employee benefits?

5 Essential Steps in Benefits AdministrationDecide which benefits to offer. ... Manage benefit costs. ... Administer benefits efficiently. ... Maintain compliance. ... Align benefits to your employees' needs.

Double Your Usage With One Incredibly Effective Program!

The infomercial may seem like an unlikely way to get employees to use their benefits. For starters, benefits are something you actually need (though I'll laud the value of my Chop Wizard 'til I die, thank you).

Apply What Infomercials Have Mastered to Marketing Employee Benefits

That's where the infomercial as a benefits marketing strategy comes in. Nobody's suggesting you get a polyester-clad pitchman to hawk health-plan features (though your employees would certainly remember that). "We're not talking about adopting the full cheesy approach," says Dave.

Twice the Usage with One Program!

How effective is the approach? Dave recalls one company's benefits marketing program that doubled its benefits usage in a five-month period. Cue the Ginsu man: That's twice the amount of usage with one incredibly effective program!

What is the most commonly used method for promoting our benefits?

Emails. Emails are easily the most frequently used and broadly accepted method for promoting our benefits. However, although they tend to have the broadest reach, they also occasionally get lost in the shuffle since our employees use email so heavily for their personal job duties.

Why do employers offer multiple health insurance plans?

Most employers even offer multiple choices for health insurance plans because employees’ needs vary so greatly. So it shouldn’t come as a huge surprise that employees won’t use all of their benefits to the same degree. For example, some of our employees may not be interested in the Mass Transit Pass we offer.

Do all employees prefer the same communication channels?

On top of that, not all employees prefer the same communication channels.

How does employee benefit affect HR?

Employee benefits have a significant impact on the administrative aspect of HR, especially when regulatory issues are involved. But there are ways to manage benefit plans more effectively to save time and reduce the possibility of mistakes. Here are five things to consider:

How do employees choose to invest?

Employees choose how to invest contributions, or how much to contribute from their paycheck through pre-tax deductions. Employers may also contribute, in some cases by matching a certain percentage of employees’ contributions. At retirement, employees receive the balance in their account.

Why do employers pay attention to demographics?

Also, some employers pay attention to the demographics of their employee base to give everyone the benefits they need most based on their characteristics. For example, in order to retain and engage millennials, businesses may offer them benefits such as student loan repayment support and co-sign support for auto loans.

What is fringe benefit?

Before we get into the nitty-gritty of employee benefits (or fringe benefits), let’s define the term: Employee benefits are any kind of tangible or intangible compensation given to employees apart from base wages or base salaries. This employee benefits definition points to examples of job benefits such as insurance (including medical, dental, ...

What is retirement benefit?

Retirement. Retirement benefits help employees feel more secure about their future after retirement. In the U.S., for example, a common benefit is the 401 (k) in which both company and employee make defined contributions to the employee’s account on a regular basis.

How to find the right software for HR?

To find the right software, do your research and make a compelling business case. Measure benefits and costs diligently . This will be the responsibility of the finance department, but it’s important for HR to keep track of rising or plummeting costs and gains.

Is health insurance mandatory?

Offering health insurance, or some kind of medical plan, is mandatory in many countries, and there’s often publicly available medical care sponsored by employers. However, many companies opt for private group or individual insurance in order to provide better options to their employees.

How long is the AARP benefits PDF?

While AARP takes a more traditional approach to presenting its perks within its career site, at the bottom there’s a click-through to a real goldmine: a complete PDF of benefits – 36 pages long, including healthcare plan pricing, accrual rates for leave, and a lengthy list of contacts for more questions.

What is AT&T Rewards?

AT&T shows us that when it comes to promoting your perks, compelling word choices can make all the difference. Instead of an employee benefits section on its careers site, AT&T presents “ Rewards .” This simple word choice delivers the promise of something fun, enticing, a real bonus that isn’t expected.

When to use bonus plans?

This should be used in the event you’re trying to close a top leveled candidate or asking someone to move to work for you.

Why are stock options important?

Stock Options. Stock options are used significantly in the startup culture when companies aren’t able to compensate their employees effectively because of cash flow. They’re also used as a way to compensate c-suite level executives when the company is doing well financially.

When trying to create an attractive benefits package, should employers conduct a cost-benefit analysis?

When trying to create an attractive benefits package, employers should conduct a cost-benefit analysis to understand what benefits are being utilized. It is also important to know if your employees understand how to maximize their benefits. Employee education, focus groups and surveys can help an organization understand what is important ...

What is benefits program?

Design a benefits program that contains value for all employees, not just some. When the organization spends money on something relevant to only a portion of employees, such as vision care, they question the investment. Offering a more personalized plan, experience and insights on a modern technology platform will deliver huge value to the employees and their families. - Jennifer Bouyoukos, Entertainment One

What are soft benefits?

Employers need to consider soft benefits, such as work flexibility, work-from-home office allowances, with a particular focus on a strong culture to stand out from their peers. With employees working from home, certain benefits have fallen to the wayside, like free lunches and office snacks, so it's important that employers promote a strong culture of collaboration and inclusivity. - Polina Wilson, Unruly ®

Is competitive benefits package one size fits all?

A competitive benefits package is not a one-size-fits-all and largely depends on the age range of your company. For example, younger workforces will be strongly enticed by competitive financial wellness packages and single health and medical benefits. A more mature workforce might prioritize family benefits.