Employees Waste $750 a Year in Corporate Benefit Errors - Workology

Employees Waste $750 a Year in Corporate Benefit Errors The Cost of Employee Health Benefits Employee Health Benefits Selection How to Rock Your Companys Annual Enrollment in 2012 Its that time of year again.  Can you feel the magic in the air, and no, its not your offices  ventilation  system turning on.  Its your companys annual benefit enrollment campaign.  Except executing any type of employment benefit campaign is never easy.  My secret to executing a great campaign involved the following secret ingredients: Desk Drops.  Employees are busy, and they often forget about that annual enrollment meeting or when the deadline is to have their selections completed by.  To make the process more fun, I always used desk drops either a flu prevention kit with kleenexes and hand santizer or a small stack of post it notes with a quick and colorful reminder attached and distributed to their computer screens. Happy Hour.  Benefits selection is never easy especially when plan coverage or insurance prices increase.  Setting up a time 2-3 hour window for employees to visit you on site to answer benefit plan questions is extremely helpful.  Offer up an incentive like a healthy snack to drive curious employees. Electronic  Communication  Campaigns.  Often times the employees spouse is the one who handles the familys health benefits.  They often get left out of the loop and sometimes make the wrong decision due to misinformation or no information whatsoever.  Upload your benefits information materials including your slidedeck presentation in addition to distributing it via company email on different online channels including Dropbox  (affiliate link) for easy download and even the company Facebook HR Page.  Add a call in number to a recorded presentation or video of the benefits changes, and I promise that youll make a lasting impression. The Cost of Employee Health Benefits Employee Health Benefits Selection While employee benefits and annual enrollment are certainly not the sexy side of human resources, they are extremely important when it comes retaining your employees.  Paycom has put together a fantastic infographic representation below (or you can view here). The statistics may be surprising.  Heres some highlights: For those that implement annual enrollment, HR professionals admit that planning and executing a successful campaign takes up 50% of their time at work. And while HR professionals are deeply immersed    in annual enrollment, our employees are not.  Sixty-five percent of employees admit that they are not prepared for making their employment benefit selections. Bad decisions are costly for employees which is why employees must be  communicated about employer benefit coverage changes and offerings over and over and over again.  Employees on average waste $750 a year of their salary on benefit selection errors.