Recently, HR professionals from across North America gathered at the Williamsburg Wythe Hotels in Brooklyn, NY to attend the second, annual HR Uncubed conference.
Both days were jam packed with keynotes, discussions, and workshops on topics spanning company culture, employee experience, digital transformation, and more.
One of the highlights was League CEO and Co-Founder Mike Serbinis, sharing his thoughts on “Budgets, Benefits, and Bandwidth”. As a serial entrepreneur with a track record of turning startups into highly successful companies, Mike was able to illuminate new ways that employee benefits can be used to stay lean while also attracting top talent.
Budget: Reimagine the types of benefits you offer
Today’s employees have grown accustomed to a certain consumer-experience because of popular services like Netflix, Uber, and Amazon. Those experiences are now shaping their benefits experience expectations – meaning the status quo simply isn’t good enough anymore.
Serbinis encouraged the HR leaders in the room to take League’s lead and reimagine their benefits plan from the perspective of the consumer – which in this case would be their employees.
How can you do this? Serbinis suggests finding ways to increase the flexibility and personalization options available to employees. Such as:
- High-deductible health plans and Health Spending Accounts (HSAs) that allow employees to dedicate their benefits dollars strictly to health issues that affect them personally
- Lifestyle Spending Accounts (LSAs), an exclusive League offering that rewards employees with money to spend on their personal health and wellness interests
- Customized wellness programs, such as League’s Jumpstart, that offer enough variety and flexibility to appeal to a diverse employee population
- Virtual care options, like League’s Health Concierge live-chat service, which makes it extremely convenient for employees to get answers to personal health questions
Benefits: Rethink the role of your employee benefits
Serbinis went on to explain how once you start to offer more flexible and compelling employee benefits, you can quickly begin to upgrade the role they play in helping your organization land top talent.
With attracting and retaining talent often ranking as the top priority of most HR leaders, benefits are a talent acquisition tool that often goes underutilized by organizations.
Serbinis offered suggestions for how organizations can begin layering benefits into each stage of their talent acquisition process:
- Brand building: Include benefits in all recruiting materials and presentations
- Job posting: Include benefits and wellness program description in job posting
- Sourcing and recruiting: Employee wellness should act as a key differentiator
- Assessment and hiring: Discuss benefits throughout the entire recruitment process not just at the offer stage
- Onboarding: Start one day 1 and continue with regular follow-ups and communication at leadership and manager level
Bandwidth: Reset expectations for your broker and health benefits partners
Finally, when it comes to the bandwidth of your team, Serbinis told the HR leaders in attendance that they simply needed to raise their standards for the level of support they receive from their brokers and health benefits partners.
Given the significant investment that organization’s are making in their health benefits, they deserve a partner who is regularly offering suggestions for how they can increase the value of their benefits spend – not just sending a renewal agreement once a year.
Plus, when you choose a partner like League, you will also be able to consolidate your health benefits and wellness programs into one best-in-class experience for your employees. Now that’s lean and mean.
For more helpful strategies you can use to begin upgrading your organization’s employee benefits, subscribe to the League newsletter.