In order to attract quality and loyal employees, it is important to offer an attractive and competitive benefits package. As a business owner or benefits manager, it is vital that you understand that the market for employee benefits is constantly changing. Each year, your employees change and their benefit needs change.
Additionally, business owners and benefits managers know how expensive the cost of employee benefits can be. How do they know their dollars are being spent wisely — that they aren’t being wasted on unnecessary aspects of the company's benefit package? Likewise, how can a business owner put together a package that will attract the right type of employees for the job?
By performing a yearly employee benefits survey using online survey software, employers can gather important data concerning their employees and the needs and desires they have for your company’s benefits package.
Because your employees are changing and aging, this survey should not be a one time event. Yearly surveys can be conducted using an online survey software to ensure your company’s benefits package remains relevant to your employees needs.
What Information Does an Employee Benefits Survey Provide?
Information is collected by the survey software, and then analyzed to provide you with detailed information which will enable you to strategically create or adjust your employee benefits package. For instance, the information may provide you with an understanding of what your employees see as priorities in their benefits package and can rank the different benefits by importance.
Health benefits and paid time off are typically among the top priority of employees, especially those who have a family or who are considering starting a family soon. These benefits are seen as essential because they enable employees to provide adequate healthcare to their families as well as take the necessary time away from work to enjoy and take care of their families.
A great retirement plan is also incredibly important to employees as they are looking ahead to their future. Retirement plans are easy enough to set up and maintain, and many employers may choose to provide a match to their employees’ contributions.
Lastly, information provided by the employee benefits survey tool can give you a picture of creative perks and bonuses your employees might like to see implemented in the work place. This information may give you the indication that your employees would prefer a pay raise or performance bonus over other benefit improvement. Likewise, you may find ideas for implementing employee appreciation programs at a minimal cost to your company.
Once you have received the information provided to you by the employee benefits online survey software, you can begin to take concrete actions towards improving employee satisfaction by changing your benefits package. Once changes have been made, make sure you make your employees aware of the changes by holding a benefits enrollment meeting. This will not only raise awareness of the changes being made, but also drive home the fact that these changes are being made out of appreciation for their hard work and loyalty.