Using Employee Benefits To Keep Your Employees Motivated
Canadian business leaders know that engaged, equipped and motivated employees are a key factor – maybe the key factor – to achieve results. It’s not surprising, then, that they’re looking to leverage anything they can to drive engagement and productivity. One area often overlooked: an employee health benefits plan.
So how can you use employee benefits to motivate employees, and how does it pay off?
Top three ways employee benefits can motive your employees
There are many ways that employee benefits can motivate your employees, but there are three key ways that they drive employee behaviour:
- Motivate your employees to save money – There are a myriad of health, dental and wellness expenses a person must pay out of pocket if they don’t have employee benefits. Prescription drugs, eye exams, dental work – the list goes on and on. When covered under an employee benefit plan, you’re saving your employees A LOT of money! For most people, there’s a fairly basic link between money and motivation.
- Motivate your employees to appreciate you, their employer – The benefits you provide your employees reinforce the value you place on them and their families. Employees feel that you care about their health and wellbeing, and that you’re willing to invest in it. On top of that, employees recognize that one of the reasons you’re offering employee benefits is because you want to attract and retain the best talent. Ergo, you think they’re worth attracting and retaining.
- Motivate your employees to lead healthier lives – With access to benefits that allow employees to address and prevent health issues, you’re helping them lead healthier lives. Good health (both mental and physical) often translates into increased happiness and less stress. With less stress surrounding their health, they’re more motivated to work hard.
How to motivate your workforce with employee benefits
Leveraging your employee benefits so they are also helping to motivate your workforce is worth it: you’ll return more value to your business, but also to your employees. Different employees are motivated in different ways, but there are some common themes.
- Communicate – Establish and maintain good communication with employees. Whether it be electronic, paper or in person, make sure you’re explaining the employee benefits that are available. Employee benefits are not motivating if the employees don’t know and understand the coverage they have.
- Acknowledge & celebrate – Taking time to recognize the big wins (and the small ones) can go a long way. Whether it be a simple “thank-you” or an employee service awards luncheon, take the time to let employees know that you value their efforts.
- Survey – Check in with your workforce from time to time to make sure the employee benefits you’re offering are still a good fit. Consider surveying employees about the benefits they have and any benefits they want to have.
- Empower – Consider offering employee benefits that empower the workforce to choose how their benefit dollars are spent. A Health Spending Account (HSA) or a wellness spending account are both great ways to empower employees to spend their benefit dollars on what is meaningful to them.
2020 is unlike other years
During a major social and economic event like the Covid-19 pandemic, it may be even more important to use your employee health benefits to motivate employees. It’s an uncertain world where employees are dealing with new circumstances and additional stress. Having employee benefits can be very comforting to employees who are experiencing a fear of the unknown.
Benefits like virtual healthcare (at GroupHEALTH we embed Akira virtual healthcare into every benefits plan) are that much more valuable to employees trying to access medical care. Access to resources to support mental health are also important during difficult times, so offering an employee and family assistance program (EFAP) is especially helpful. In challenging times, employees who feel supported and valued will be motivated to work harder.
Good Advice is Key
Employee benefits can be a great motivator for your workforce. Find out if your current plan is motivating your employees, or if there are improvements to be made. Review your options with one of our licensed advisors on the phone, or contact us for a comparison quote.