Many businesses find that the employee benefits packages that served them well in the past fail to impress modern workforces. Organizations are trying to update their offerings in several ways. Still, the solution to creating the most effective benefits program possible is incorporating employee feedback into the package by gathering input on an ongoing basis.
Businesses must systematically collect and act on employee feedback to establish that their offering is relevant.
Why Employee Input Matters
Company management has traditionally decided on benefits. However, by treating them as a two-way conversation in which employees and executives share ideas, organizations can improve employee satisfaction. Employees who feel their voices are being heard are more likely to appreciate their benefits and use them effectively.
This improves their outcomes and helps them contribute to the organization’s success. In addition, seeking regular feedback from employees makes it easier to identify gaps in coverage, areas where benefits are being underused, or emerging needs that might have slipped under the radar.
How to Gather Feedback
Organizations seeking continuous benefits improvement should set up multiple feedback channels to collect the necessary insights. Many businesses stick to annual surveys that thoroughly examine their employees’ satisfaction levels with their current benefits, which may also point to emerging needs. Such surveys are most effective when they include quantitative metrics and opportunities for people to provide open-ended feedback so they can elaborate on their experiences.
However, checking in with your workforce once a year is not enough. Regular pulse checks throughout the year via quick and targeted surveys can help you see how recent changes affect workers and give you a more current view of overall employee sentiment.
You should also consider setting up focus groups to provide deeper insight into each specific component of your benefits program. Your focus groups can help you find common pain points or point to new offerings that would be well-received by the workforce. One significant benefit of focus groups is that they are interactive, which means you can see some in-depth perspectives that other feedback channels would not reveal.
Implementing Feedback
There are several great ways to collect feedback. Still, you need an effective system for analyzing and implementing all of this input. Set up a process for identifying patterns, priorities, and areas for improvement. Many businesses find it helpful to set up a benefits committee of representatives from different employee groups and the finance and human resources departments. This can help evaluate feedback in various contexts.
When implementing this feedback, it is prudent to prioritize improvements based on how deeply the workforce will feel their impact and how easily they will be implemented. Set up a plan that includes short-term adjustments as well as long-term initiatives.
Communicate Your Results
Feedback should be considered a loop, meaning you must communicate your findings and propose changes to your employees. Be sure to share aggregated feedback results with your workforce and let them know about any specific actions you plan to take in response to their feedback.
Let your workforce know about the reasons behind your decisions. This is particularly important when it comes to suggestions that you do not intend to implement, as employees will be more supportive if you explain why they are not feasible. Transparency is the solution to helping your employees understand that you value their input, which, in turn, can make them even more engaged in the feedback process.
Measure the Success of Your Benefits Program
Organizations should strive to continuously evaluate and refine their benefits program, establishing essential performance indicators that can help to measure the impact of their various benefits initiatives.
Some metrics you need to consider include the utilization rates for different benefits, employee retention rates, and satisfaction scores. Calculating the return on investment gained by specific programs and the impact of benefits on recruitment efforts can also be helpful.
Breathe New Life Into Your Benefits Offerings With Business Benefits Group
Are you ready to support a culture of ongoing improvement by incorporating employee feedback into your benefits improvement efforts? The professional benefit consultants at Business Benefits Group can help you design and implement effective feedback collection strategies and actionable improvement plans. Reach out today to find out more about our services.