Top 7 Ways To Increase The Perceived Value Of The Benefits You Offer Your Employees
By Christopher M. Knight
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- Make sure you tally up in writing the total cash value or benefit of the salary + benefits you are offering them.
- List on their paycheck stubs the actual cash value of the benefits they are receiving. Saying 2 Weeks of Paid vacation is NOT enough, but telling them that it is a $1000+ cash value adds a new light to a 'often taken for granted' benefit.
- EDUCATE: Make sure you take time out once a quarter or twice a year to educate everyone on the total benefits offered, as with the complexity of benefits these days, this will add value to someone who doesn't understand the value yet or doesn't know how to increase their value so they can get the benefits they haven't earned yet.
- Send them mail at home, that does 2 things: (1) tells them how much you appreciate their contribution and (2) reinforces for their spouse that they are appreciated. Why? Because you need the support of the spouse of your employee equally as much as the employee's own interest.
- Make it easier to understand. Get rid of the big words that many benefit plans contain or produce a guide to understanding your benefits so that your chances of an employee more fully understanding what is offered, so that they can appreciate them more.
- Make sure you call for input from your team, as to which benefits they value more than others, so that you can make changes along the way.
- Be sensitive to the age group of your team. Younger teams (20s) vs. teams that are in their 30s - 40s or above, have very different benefits needs. Your sensitivity to this issue will increase the perceived value of the benefits you deliver.
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Article Submitted On: July 13, 1998