The Frequency

Year End Benefits Checklist: How to Prepare for 2018

As the year comes to a close, companies are getting everything in order to start the new year off right. For many, settling and reviewing employee benefits is on the list of things-to-do before welcoming the new year.

If you want to make sure your company brings in 2018 with a plan, a purpose and a whole lot of potential, go through this year end benefits checklist. You’ll feel great about what’s to come after checking off the items on this list.

Remind Employees About Unused Benefits

Some companies have benefits that expire each year. Often sick days, vacation days and personal days renew on a yearly basis. While some companies allow these benefits to roll over in the next year, others do not.

Flexible spending accounts are also notorious for not rolling over from year-to-year.  Remind your employees if any unused benefits they have that will not roll over into the next calendar year. Trust us, they will thank you for it!

Make Sure Employees Are Signed Up for Next Year’s Benefits

January 1st is a big day. Besides being the first day of the year, January 1st also marks the start of many traditional employee benefits. New health insurance coverage often starts on the 1st as well as new 401K matching rates for companies that raise the matching amount based on an employee’s time with the company.

Now is a great time to make sure all of your employees have coverage that begins on the 1st of the year. It’s also a good idea to remind them of all of the benefits they have available to them by sending an email or an informational packet.

Evaluate Employee Perks

Perhaps you started offering healthy snack options to employees in the office kitchen this year. Or, maybe you started reimbursing employees for gym memberships and other fitness-related expenses. The end of the year is the perfect time to take a look at your employee perks and evaluate whether they align with the culture and values of your company.

Ask yourself, are my employees using this perk? Why or why not? The answers to these questions will help you groom your employee perks and make them more and more appealing to your workforce.

Say Thank You to Your Employees

This step is arguably one of the most important actions you should take regarding your company at the end of the year. Regardless of whether your company met it’s goals for the year or not, a team of people spent day after day working for you and believing in your company. Reward them!

Whether you send a sweet thank-you note or give everyone a year end bonus, find a way to say thank you to your employees. When you start the new year, they’ll be motivated to invest another year of their life with your company. And loyal employees? Well, they’re priceless.

If you want to make sure you’re doing everything you can to support your employees and their families through benefits, we can help. partners with companies to create comprehensive, customized benefits and perks packages.

We love helping companies prioritize their people because we believe that when humans thrive, companies prosper. Contact us today to learn more about how we can help you achieve your goals with benefits in 2018.

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