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September 21, 2011

Are You Getting the Most Bang for Your Buck with Your Benefit Offerings?

Filed under: Benefits,General HR Buzz,Insurance,Total Rewards12:52 pm

As we near the typical time for health benefit renewals – January 1 – we may be thinking “Are we really spending our money in the right places”?  If creating happiness in the workplace is one of your goals, then yes, you are.  A 2011 analysis conducted by CareerBliss, a career development website and online community, revealed that a comprehensive benefit mix was a top factor in worker’s happiness outpacing even salary.   Key factors of organizations were reviewed and values assigned to determine how important those factor were to the employee’s overall happiness.  Benefits, along with career advancement opportunities and work/life factors, were the top three factors influencing employee satisfaction.

Competitive benefit packages of the 250,000 organizations surveyed included the following:

  • Above-average health insurance coverage
  • Dollar-for-dollar 401(k) match,
  • Free financial planning services
  • Life and disability insurance
  • Tuition reimbursement
  • Commuter benefits
  • Legal benefits
  • Adoption benefits
  • Long-term care insurance
  • Pet Insurance

So as you analyze your annual benefit renewal, keep in mind that the expense may result in happy employees which creates a positive workplace.  Something to make you smile.

 

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