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How do you communicate your benefits to employees?

Few weeks ago Juozas was presenting our survey results at HR Savaitė Lietuva, so special thanks to CONFINN, Arturas Laucius and Giedrė Kapočienė.

We asked HR managers a question “How do you communicate your benefits to employees?”
Results are here (HR):
74% via emails
50% via intranet
16% other tools
10% do not communicate at all..

Then we asked employees how would you like to receive communication from HR, so results are:
59% via emails
41% via intranet
55% mobile app.

Unlimited vacation – is it still a trend?

I found an interesting topic at Baremetrics, so wanted to share it with you.

During an interview for a new job, do you hear how HR managers or CEOs tell you about the benefit – unlimited vacation? You can work from anywhere. Take all the time you need! Yeah.

If you still have such an option in your company or you would like to have it, so here are some tips on how to prepare for it:
✔️ Minimum Vacation – each member is expected to take at least 4 weeks (or less) off throughout the year with at least one week-or-longer vacation.
✔️Accountability – even if it is not limited, let’s track it. Create an internal spreadsheet (link in comments) available for everyone to see. This also will help track who hit the target to have not less than 4 weeks.

How these tips will affect all teams:
✔️Some will feel guilty for taking too much time off.
✔️Same responsibility for CEO’s as well not to take too much time off.

Marshmallow test

Do you know what a marshmallow test is? It is about the patience and reward.

Some time ago, we asked people about their saving habits. And here are the results:
46% will choose to receive 100 euros now.
54% will choose to receive 168 euros for their pension plan.

We understand both parties as many people commented their decision about that so no judgment who is right who is not 😊

5 perks managing issues

We had conversations with tens HR’s recently about what issues organizations meet in managing the perks for their employees. These are really great insights that we would like to share with others.
👉 Issue No. 1. The benefit package should play an important role to attract the top talents. Each candidate is unique, with its own needs, which means that you should provide a wide list of choices to offer the relevant benefits package. But you can’t do this… Why? Because of administration difficulties. About 90 % of organizations in Lithuania, use Excel to store and manage employee benefits data. Just imagine, the organization has 200 employees, and everyone with his needs… It takes a lot of time and effort.
👉 Issue No. 2. Needs tend to be changing. And if the benefits package aims to keep employees engaged, it means employees have to be able to change their benefits as the needs have been changed. Yes, it is possible when you have 20 employees, but again… If you have 200 employees and you use Excel for benefits management? So, the issue is to keep the offer always relevant to your employees.
👉 Issue No. 3. To encourage employees to use the benefits. By asking employees what can help them use benefits more often, the most common answers are to get notifications and check your balance. If you use Excel, you have no such possibility.
👉 Issue No.4. Benefit for the organization is an investment. Human resource managers are always analyzing the data and making reports for top management. It is a quite long and difficult process as you are using all data in Excel tables. Some data you can’t get at all, so your final report for the investment is not extended.
👉 Issue No. 5. Each perk usually is provided by different providers. Finally, you have at least three links to follow the news, three contacts for collaboration, and three reports of use. It would be great to have all providers in one place.
The aim of using Perks is to attract, engage and retain the best talents. In many ways, organizations are not able to use this motivational benefit in all 100 percent. Solving all these issues organizations could expect a higher payback.

What can make employees safe and the role of benefits in face of it?

To feel safe is one of the main factors that impact employees’ intention to join or leave the company.
In one case is to feel unsafe when the company is the cause of it (today I’m not going to talk about that case) and another one – when the employer stands as intermediate to avoid or eliminate such feelings caused by external factors.
All employers understand the value of healthy employees, so how employee benefits could help them feel safer?

Know your employees

To get to know how you as an employer can help your employees, first of all, you have to understand the reason for that feeling. And I think I will not surprise anyone, the pandemic situation plays the main role there. Employees fear for their own and relative’s health, about their financial stability, and even about belonging to the social community. I understand, that we all are helpless to eliminate this reason, but companies can contribute to minimizing the consequences.

Insurance – make it great again. You say, nothing new? How to stand out from the competition with health insurance? Boring! I say – I agree! Nothing new! But the secret there is not about WHAT but HOW!

PERSONAL HEALTH

I had never seen the importance of health insurance more than it is now. And first – TO AVOID for. In face of a pandemic, visiting the doctor becomes a challenge. Visit times are fully booked and you have to wait for weeks just to explain your problem. The process is so complicated that we choose to wait for our disease to go away on its own in some cases. And as a result, we feel unsafe. Health insurance, to cover the medical expenses of the insured is the way employees could avoid such inconvenience. You can skip the public hospital queues and use this benefit to check in the private medical institutions.

FEELING OF RESPONSIBILITY

In many cases, an early visit to your doctor – saves lives. I understand how it is unpleasant to talk about your own life and those worst cases, but in order of pandemic we all, even for few seconds took thoughts about it, agree… What if? And the first thing what about we are thinking is FAMILY. Protecting your family against financial difficulties can make you feel safer. Life insurance is a type of insurance that pays out the sum of money on the death of the insured. Other events such as terminal illness or critical illness can also trigger payment.

FUTURE INTENCE

We can never know what awaits us the next day, especially now. Financial stability or having savings for at least one year, makes people feel safe. Investment life insurance has even two benefits – protection against death, injury plus investing capital. IT means you can feel safe about your family finances in case of your ability to get income.

BELONGING TO A SOCIAL COMMUNITY

And it is an important factor too. We are not to be valued, not to be accepted, not to be understood. Belonging to any social community gives us a feeling of safety. So, how companies could use benefits in this case? I am talking about vaccination, and no, not just about the covid vaccine. Belonging to the community means the ability to contact each other, to spend time together not just online. Vaccination can help us to stay in touch with communities. Employees could use health insurance there.

Insurance – same options, different values. Don’t underestimate it, talk about the values in your Employer proposition.