Published by Trustmark on September 22nd, 2020
Benefits plans are costing employers; but perhaps not in the way they anticipated.
According to the Bureau of Labor Statistics, employee benefits costs averaged nearly 30 percent of total compensation. And employers, when developing benefits plans, are seeking to control costs while offering a competitive benefits package and keeping the needs of their business front and center.

But employers might be overlooking a key perspective when developing plans – that of their employees. And it’s costing them dearly – in high claims and low participation, lost productivity, and missed recruitment, retention, and growth opportunities.
You can help
Fortunately, you, as brokers and employee benefit decision makers, can help and there’s no time like the present.
Learn how six simple steps for putting employees at the heart of your benefits strategy and plan can help even the most experienced benefits professional improve overall employee health, recruit and keep talent, and reduce employee stress.
Step One: Align on employee wellbeing objectives.
Consider company business goals and employee population needs.
Step Two: Determine existing barriers to employee engagement objectives.
Factor in behavioral barriers that stem from an employee’s feelings and beliefs and environmental barriers that stem from structural aspects ingrained in an organization.
Step Three: Develop a benefits strategy and plan with the objectives.
Looking beyond individual benefits, think of benefit plans as “health hubs” that are nimble and allow companies to address the many and ever-changing employee health needs – not just their physical health, but financial, emotional, social, and environmental dimensions of wellbeing.
Step Four: Establish a system to influence benefits plan engagement and participation.
Don’t take an “If you build it they will come” attitude with employee benefits plans. Factor in how leaders can serve as role models for how to engage with a benefits program; ensure a benefits program aligns with the company’s overall strategy and shapes a culture of health that enables employees to effectively – and appropriately – use their benefits, makes good decision-making easy, and gives them guidance when and in a form that motivates them to action.
Step Five: Reinforce with ongoing communications, including post-enrollment.
Ensure your communications educate employees in a way that doesn’t feel like education; leverage multiple touchpoints and channels for engagement; and extend beyond the enrollment period.
Step Six: Measure and report results and refine the benefits strategy and plan.
Demonstrate the value of a company benefits program by taking a holistic approach when reviewing data and focusing on the measurable “return on investment” (ROI) as well as the less quantifiable “value on investment” (VOI).
Read our white paper, Through Engagement to Action: A Wellbeing Roadmap.
Discover how these six steps form the nucleus of a roadmap that will lead to sustainable, healthier, and financially sound behaviors, resulting in improved employee wellbeing and employer bottom line.
Read our white paper, Through Engagement to Action: A Wellbeing Roadmap.
Let us know how we can help
With smarter benefits, a longer-term strategic approach and a caring, personalized service that builds trust and drives greater employee engagement, Trustmark offers employee benefits that go beyond the expected.
We’d appreciate the opportunity to show you what that looks like.