Question: How do you create a benefit package that will attract and retain employees?
The perfect benefit package is not a one size fits all. Start by considering the needs of your employees and the goals of your organization. Ask yourself questions such as what types of benefits may be most attractive to potential employees, such as health insurance, retirement plans, and paid time off.
Once potential benefits have been identified, you and your UNICO Benefits Advisor can design a strategy to implement them.
UNICO Benefits Advisor, Jay Lechner, outlines 4 key points to create a benefit package tailored to your organization.
1. To obtain the very best package for each group, it must be individualized for your specific wants and needs
Our unique process, the Ascent Program helps us dive into your specific areas of need. By asking the right questions, we can identify strengths of your current program as well as areas of opportunity and provide creative solutions.
2. Building a strong relationship between your organization, your Advisor and service team is key for building a competitive benefits program
Needs change and evolve over time. Whether you are growing organically or through M&A, meeting with the group throughout the year helps us stay on top of what is going on within your business. Building a strong relationship helps build a two-way level of trust.
3. It is important to do benchmarking within the same industry to find the most competitive benefit offerings
We are currently going through what many are calling, the Great Resignation. Knowing what others are offering is crucial to standing out amongst your peers. Having the right Advisor to help with benchmarking can shed light on how others are attracting and retaining your key employees.
4. It is important to continuously evaluate new and innovative ideas and products
The benefits marketplace is evolving. Companies and vendors are constantly challenging what it is to be on the cutting edge of benefits. Keeping our clients up to date on what is new in the industry allows them to weigh whether those would be impactful to their team. The current rise of voluntary benefit programs allows companies to offer extra benefits, without having to put out any additional capital.
Vice President, Benefits Advisor
With some thoughtful planning and a UNICO Advisor on your team, your benefits package will meet the needs of both your organization and your employees. Connect with a UNICO Benefits Advisor today.