The importance of maintaining good communication in the workplace is indisputable. However, many business owners lack proper communication in areas where it counts the most, such as benefits packages. Health care plans are constantly evolving, meaning communication between management and employees must also be ready to change. To ensure that your employees are receiving the benefits they want and need, it is important for businesses to accurately communicate the value of these benefits. Here is a closer look at the benefits of open enrollment communication and where you can go to get assistance when communicating employee benefits.
During open enrollment season, employees have the opportunity to change or elect various benefit options available through their employer. These may include benefits like health insurance, life insurance, or retirement benefits. Some employee benefits are paid in full by the employer, while others are paid by the employee through a salary deferral or section 125 cafeteria plan.
As open enrollment is open for just a few weeks, employees must make a swift decision whether or not they want to make changes to their existing benefits plan or add to the plan. During this time, businesses should make the extra effort to help employees better understand the offerings in the benefits package, as well as details such as deductibles and limitations. This will allow employees to make a more informed decision.
Improves Employee Engagement
Effective communication has been proven to increase employee engagement, as well as boost workplace productivity and ultimately drive business growth. Unfortunately, many companies struggle communicating with employees, especially when it comes to aspects like benefits. Proper communication with staff ensures that all employees understand changes that are to come and are prepared for these changes.
Engaged employees are often more loyal and committed to the company that they work for. They are more likely to go above and beyond to succeed and be successful. Communication plays a direct role in this. However, communicating for increased employee engagement requires a clear and consistent message, honesty, openness, and a sense of passion and direction.
It is also important to be transparent with employees. Share company goals with staff, especially when it has an impact on employee benefits. When benefits are modified due to a change in the workplace, employees who understand why these changes are being made are more likely to adopt without encountering problems.
Greater Likelihood of Employees Using Benefits
Some employees do not take advantage of the benefits, and the reason is not always obvious. In many cases, employees are not aware of what benefits exist and are therefore unable to enroll. Other times, employees are unaware of when open enrollment is available and may miss the opportunity to enroll. This can be frustrating to employees who need these benefits, and this can affect worker productivity and attitude.
Open enrollment communication can solve many of these problems. When a business takes the initiative to communicate with employees about what benefits are being offered and when, employees are more likely to ask questions and ultimately enroll.
It is important not only to bring up open enrollment once, but multiple times before and during the open enrollment period. This will ensure that all employees are made aware of enrollment at some point. Be sure to promptly answer any questions and address any concerns that employees may have in a speedy manner.
Improved Communication and Relationships
Building effective working relationships in the workplace is critical to the long-term performance and ultimate success of a company. When management and staff are not able to communicate effectively, important details can fall to the wayside. Communicating clearly and concisely about open enrollment is an excellent example of how improved communication can affect professional relationships.
Communication affects all aspects of work, from job satisfaction and company loyalty to productivity and daily performance. To maintain a high-functioning work environment built on strong relationships, communication is key. Relationships in the workplace are developed based on two main factors: how two people connect and how much two people have in common. When professionals in the workplace fail to interact at a more personal level, these relationships cannot be built.
The open enrollment period for employee benefits provides the perfect opportunity to improve communication with staff and form relationships that will be beneficial in the short- and long-term.
Better Employee Retention
Employees come and go, and that is an undeniable fact. However, the rate in which your employees come and go can say a lot about your business. If you have a low employee retention rate, there may be something amiss in your work environment that is affecting a worker’s will to stick around. Often times, this is a lack of communication between employees and management. Employees want to feel motivated and valued, and when management fails to properly communicate, employees can feel unappreciated.
Proper communication regarding open enrollment and all other important topics can greatly improve employee retention. However, it is important to develop the right strategies to approach internal communications. This means helping your team better understand strategic decisions so that workers feel like they are “in the know.” It can also be useful to offer feedback opportunities to achieve two-way communication. Employees want to know that you are listening to their concerns and that you will make an effort to address these issues head-on.
Receive Help with Employee Benefits Communication
Open enrollment season at most companies typically comes around just once a year, so be sure to make it count. Make it a priority to improve open enrollment communication in your workplace and ensure that you continue maintaining excellent communication throughout the rest of the year. With a growing list of communication channels available, there are now countless ways to engage your employees effectively. Want to know more about the benefits of open enrollment communication? Or do you need assistance with employee benefits communication in your own workplace? Contact the experienced business consultants at Business Benefits Group today.