Scope of Employee Benefits Changing to Meet Demand of Competitive Employers

Scope of Employee Benefits Changing to Meet Demand of Competitive Employers

The employee benefit landscape is constantly evolving, and business owners must keep pace. No longer is the traditional offering of basic medical and ancillary products providing employers with the competitive edge. In the battle to attract, retain and engage employees, data driven long-term strategic plans provide win/win opportunities for both employers and employees alike. A benefit package that supports the growing and diverse needs of the employee is a game changer when delivered and communicated effectively.

“We look at employee benefits, not just health insurance, as a complete package,” said Cameron Black, Advisor and Director of Corporate Wellness Consulting at Ollis/Akers/ Arney. Business owners need to think about not only what employees are bringing to the table but what the owners themselves are doing to encourage them to stay long term. While agents want to ensure that business owners are offering competitive traditional benefits like medical, vision and dental insurance, they should also be partnering with owners to help them strategically plan for the next three to five years so that business can grow and owners can continuously invest in their people.

To ensure the strategy is effectively meeting employees’ needs and owners’ expectations, Ollis/Akers/Arney Advisors communicate with owners on a regular basis throughout the year in order to better understand their business dynamics and measure the success of the program. Helping to uncover any areas of deficiency and then working with the leadership within each business to bring those up to the desired standard should be the objective. Included in this process is communication with employees to help ensure they fully understand and utilize the complete benefits plan.

A unique example of how the Ollis/Akers/ Arney approach differs is helping clients implement employee wellness programs. Plans that include an employee wellness component have shown improvements in employee engagement and retention due to the fact employees feel valued.

“Impacting the value of an employee benefits program is more than just the products offered and tweaking plan designs,” said Kevin Robbins, Chief Sales Officer with Ollis/Akers/Arney. “We pore through the benchmarking data and bring a holistic approach to help employers gain an understanding of the needs and changes that go on with their own employees, and also the ones they hope to attract. And while medical, dental and vision are incredibly important, there’s a much larger conversation to be had and it benefits everyone.”