Employee benefits are an important part of any organization’s compensation package. However, many organizations struggle to increase employee participation in their benefits plan. This impacts both your business and your people. Low participation rates mean it will cost a company more to offer certain benefits or cut a benefit entirely.
The employee, on the other hand, may feel underpaid. After all, by not participating they are losing part of their total compensation. Some of which (retirement plans, critical illness insurance), could have a negative long-term impact. So, what is the solution? How can a company improve their employees’ participation in their benefits program. Read the entire article at Apex Benefits to learn what five strategies you should consider implementing.