What is one step for building an unbiased benefit strategy?
To help HR teams build an unbiased benefit strategy, we asked HR professionals and business owners this question for their best insights. From allowing customization to talking with employees, there are several considerations that may help you build an unbiased benefit strategy that best supports all employees.
Here are 7 steps to building an unbiased benefit strategy:
- Allow for Customization
- Look for Benefits that Benefit Everyone
- Test Out Benefits to See What Works and What Doesn’t
- Invest in a Benefits Consultant
- Offer Paternity Leave
- Gear Benefits Packages Toward Employees’ Unique Needs
- Talk to Your Employees
Allow for Customization
One tip for building an unbiased benefit strategy is to allow for customization. Employees have different needs, and it is nearly impossible to create a package that benefits all team members equally when the bundle is uniform. Inevitably, one group may have advantages over others if there is one plan and no choice. Instead of mandating one-size-fits-all benefits, build a more flexible package that allows employees to select perks and services that most closely align with their needs.
Michael Alexis, TeamBuilding
Look for Benefits that Benefit Everyone
If you really want your benefit strategy to be unbiased, you need to create benefit packages that are truly of benefit to everyone. To do this, you have to really get to know your team. What areas of town do they live in? What are their interests? How many have families? Look for benefits that can be used by anyone, and that will be of interest to everyone. Otherwise, your “benefits” won’t be that beneficial, after all.
Lindsay McCormick, Bite
Test Out Benefits to See What Works and What Doesn’t
Before doubling down and deciding upon a list of perks to include in your employee benefits program, it pays to actually test out which ones are truly unbiased and which ones aren’t. Pair this with an anonymous feedback form so that employees can assess which benefits they truly find valuable and which ones just don’t cut it. This will help shed light on the most fitting employee benefits that cater to all individuals, regardless of their background.
Demi Yilmaz, Colonist.io
Invest in a Benefits Consultant
One step for building an unbiased benefit strategy is to consult with a benefits consultant. A benefits consultant can help you assess your company’s needs and design a benefit plan that meets those needs while also complying with government regulations. They will also help you stay up-to-date on changes to the law that could impact your benefit plan.
Claire Westbrook, LSAT Prep Hero
Offer Paternity Leave
Offer paternity leave. While more employers are offering paternity leave benefits, it remains nothing more than an abstract discussion for many. Mothers are not the only ones who should be able to stay home and bond with a newborn baby. The first weeks of infancy are a precious time that parents can never get back, and more modern employers are offering both maternity and paternity leave as part of their program policy for that reason.
Rachel Blank, Allara
Gear Benefits Packages Toward Employees’ Unique Needs
For many businesses, teams now consist of members ranging from hard-working baby boomers to tech-savvy Gen Zers. So, when it comes to employee perks, it’s essential to recognize that team members are at varying stages in life and may want and appreciate different things. Boomers prioritize health insurance and a solid retirement plan. Gen Xers focus on salary level and a 401K plan. And Millennials and Zoomers are more interested in working from where they want, gym memberships, and unlimited PTO.
Embracing generational diversity into our benefits package engages and motivates employees and makes them feel valued. And it’s this kind of job satisfaction that benefits our employees’ financial wellbeing and helps us retain and attract top talent.
Jason Sherman, TapRm
Talk to Your Employees
Discuss with your employees what types of benefits they are seeking. While in a way this bears a bias, it is a bias that is for the sake of your employees. Doing so allows your employees to participate in selecting opportunities that meet their needs, generates loyalty, and allows for all company members to have an equal voice in benefits plans and inclusivity.
Tony Chan, CloudForecast