The Value of Personalizing Your Employee Benefits Offerings
With diverse backgrounds and interests, every group of employees is different. Instead of opting for a one-size-fits-all benefits package, consider providing benefits options that are as unique as your employees. For instance, many workplaces are multigenerational; the benefits needs of a 50-year-old man will likely differ from the needs of a 25-year-old woman.
One note of caution: as you find yourself tailoring benefits to employees, think strategically about those choices and limit the number of plans available. According to a Willis Towers Watson survey, 57% of employees prefer a moderate number of benefits options and indicated that too many choices would be overwhelming.
Ultimately, personalized benefits will require meaningful conversations with employees. While it’s impossible to offer benefits that will meet all the needs of every single employee, maintaining open communication with workers can go a long way toward that goal. Here are some general tips to consider when gauging the needs of your employees: