| RESOURCES
Open Enrollment Part 2: Increasing Employee Participation
It has been proven that high participation in benefit plans helps to create a positive attitude towards the company and helps greatly in employee retention, yet many employers continue to struggle with low participation rates and low satisfaction rates with their benefit plans. So, what are employers doing to try to encourage participation?
Many of them have started to take a less “paternalistic” approach to benefits by encouraging increased employee involvement. For example, employers are asking workers to take more responsibility for selecting, using, and managing their benefits—all of which require ongoing and sustained benefits communication and education. And what they are finding is that employees are looking for a unique variety of benefits.
Some benefits, such as medical and retirement benefits, are almost institutionalized or expected in the United States. However, others are not—and these are the benefits that set companies apart. Organizational values are often manifest in the benefits organizations offer. Thus, they help to establish an organization’s positive reputation in the marketplace.
So, isn't it about time to reconsider the benefits package your company offers? Following is a list of often overlooked and inexpensive benefits that are offered across hundreds of U.S. firms:
- Relocation expenses
- Employee referral bonus
- Boomerang bonus (employee rehire bonus)
- Prepaid legal services (telephone advice, wills, purchase of a home)
- Free or subsidized mass-transit passes
- Tuition reimbursement or payment for seminars and classes
- Life insurance
- Ten paid hours a month for volunteer work
- Wellness programs
- Flexible spending account for child care
- Free drinks such as pop, coffee, tea, juice and espresso
- Award or gift certificates (redeemable at the employer’s or another local store) as bonuses for attendance, productivity, and punctuality
- Company sponsored/subsidized events such as trips to athletic events, concerts and hikes
- Theme days such as Halloween costume days and holiday cookie exchange days
- Assistance in obtaining a visa to visit the United States
- In-plant bank branches for employee banking services
To offer employees more, consider pre-paid legal services. Read more at www.countrywideppls.com.
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