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For business owners and HR professionals, wearing many hats is a daily reality. You juggle finances, marketing, operations, and so much more, all while trying to ensure your employees have access to the benefits they deserve. Your schedule is likely to be booked solid most days, leaving you little time to properly explain your organization’s benefits so employees can take advantage of them.
That’s why employee benefits education is so important in today’s competitive business climate. Just as Innovo Benefits Group works to help businesses make educated decisions on their benefits plans, we also provide customized sessions to explain these benefits to your employees thoroughly.
Delivering the Whole Package
Attractive benefits packages are crucial for acquiring and retaining top talent, but offering competitive benefits isn't enough. Many employees are not fully aware of the breadth of their benefits plans or how they can access all of the benefits available to them. Employees oftentimes miss out on valuable benefits available to them, including:
- Choosing the wrong health insurance plan: If employees don’t fully understand the details of their health insurance, they may choose a plan that does not fit their budget or needs. They may also not take advantage of no-cost services covered by the plan, such as preventive screenings and immunizations.
- Omitting other benefits: Organizations often provide other benefits, such as dental, vision, life, and short- or long-term disability insurance. However, an employee may need to opt-in to this coverage and will not do so if they are unaware that it is available or if they are not fully informed about costs and coverage. Sometimes employees even forget that they have coverage and don’t take advantage of cost savings available with providers.
- Leaving flexible benefits on the table: Reimbursement accounts such as flexible spending accounts and reimbursements for wellness expenses are oftentimes forfeited. Employees often miss out on these benefits if they do not know they are available or are unaware of the required deadlines for using them.
- Missing out on employee assistance programs: Organizations have increasingly been sponsoring programs that can help alleviate stress, such as connecting employees to mental health counseling or childcare resources. If employees are unaware of these programs, they may miss out on resources that can improve their well-being and job performance.
- Not understanding leave of absence benefits: Employees may be unaware of the leave of absence benefits available to them beyond traditional vacation, sick, and PTO policies. It can be very difficult and daunting for employees to navigate their way through the various laws, regulations, and benefit policies that may apply to their time-off needs.
- Not taking full advantage of retirement savings: Employees may be putting aside a smaller amount of their income toward a retirement savings plan if they are unaware that their employer offers a matching contribution, for example.
Why Employee Benefits Education Matters
When your employees are more aware of the benefits available to them, the advantages are clear:
- Employees make full use of their benefit plans: When employees have solid knowledge about their benefits, they’re more likely to utilize them — leading to higher employee satisfaction and greater talent retention.
- Employees make smarter choices: By understanding different plan options and how to access their benefits, employees can confidently pick the options that best suit their unique needs.
How Innovo Provides Benefits Education
Education is a bedrock principle at Innovo Benefits Group. A founding principle of our company is the belief that empowering businesses and employees with knowledge about their benefits plans will lead to the best outcomes for everyone.
Here's how we help:
- Flexible education options: We provide several options for delivering benefits information to employees, including the development of open enrollment presentations, group meetings, one-on-one consultations, and ongoing virtual support. We can also train management and HR staff to effectively explain benefits plans.
- Tailored content: We customize educational sessions and written content to cover what matters most to you and your team.
- Continuing support: We help keep you informed through extensive online resources, automated benefit updates, and curated alerts for critical changes in the employee benefits environment.
Let Innovo Help Your Organization Shine
This Small Business Month, focus on what you do best – running your business. Innovo Benefits Group can take one more thing off your to-do list by handling employee benefits education.
Ready to learn more? Contact Innovo Benefits Group today and discover how we can empower both you and your workforce!