How to Attract and Retain Employees with Employee Benefits Technology

The Great Resignation, remote work, market pressure, and the competition for talent have employers looking for ways to revamp their recruitment strategies to bring in talent. But along with that, employers are focused on the other side of the coin – retaining talent and reducing turnover.

Employee benefits can be a differentiator when it comes to the battle for talent – not just offering competitive benefits, but providing employees with benefits technology platforms for a positive onboarding and administration process.

Benefits Technology and the Recruitment Process

Benefits technology can enhance the recruitment process in many ways, including:

Streamlining Applications

Employee benefits technology makes recruitment more streamlined and efficient, allowing candidates to access and evaluate their benefits packages more easily. With all the information at their disposal, they can make more informed decisions regarding job offers.

It also supports transparency throughout the application process, ensuring that prospective employees feel valued at each stage of hiring. Your HR department can also keep tabs on application and hiring progress to ensure nothing slips through the cracks.

Positive Employer Branding

Employer branding is a key aspect of positioning yourself as a desirable company for candidates. A defined, cohesive brand gives a candidate insights into your company’s culture and values, ensuring that they’re the right fit in the long term.

Your benefits technology can be part of your employer branding and presents your brand in an attractive and simplified format. You can showcase the benefits you have to offer and your investment in your employees’ long-term health and wellbeing.

Better Efficiency

HR technology improves benefits management by reducing the risk of errors that can cause recruitment delays and payment inaccuracies, and by extension, negative impressions of your employer brand.

Automated processes and streamlined data entry ensures that employee information is always accurate and timely, reducing the risk of mistakes and ensuring that your company is meeting its legal obligations. This allows human resources staff to focus on their day-to-day responsibilities and put more effort into cultivating strong relationships with new hires and current employees.

Benefits Technology and Employee Retention

Hiring new employees is an expensive and time-consuming process. While it’s necessary sometimes, focusing on retention is often the more cost-effective approach. Benefits technology can help retention in the following ways:

Improved Benefits Enrollment and Management

Benefits technology streamlines benefits enrollment and management by allowing employees to access their benefits, enroll, and make adjustments from one centralized platform. With the complexity of benefits administration, having this option can remove a lot of stress and promote a more positive experience.

For example, employees may need to adjust their packages when their life circumstances change, such as health changes or getting married, and have a better understanding of how to choose the best options for their needs.

Better Benefits Adoption

Benefits are expensive for both your company and your employees. If they’re not using their benefits to their fullest, either because they’re unsure about certain aspects or the benefits themselves don’t suit their needs, it’s only wasting money.

Benefits technology offers communication channels and interactive tools to help employees better understand their benefits options and how they can tailor them to their needs. For example, benefits technology platforms may have tools like reminders to schedule routine health exams, goal trackers for wellness, or databases for different in-network healthcare providers.

Benefits technology helps employees evaluate and enroll in benefits more easily, which motivates them to use their benefits to the fullest. Instead of choosing options out of stress, they can leverage communication channels and interactive interfaces to learn about their benefits options and how to use them effectively.

Enhanced Employee Wellbeing

High turnover can happen for many reasons, but employee dissatisfaction is among them. Employees don’t just want a paycheck. They want to work for a company that values them and invests in their wellbeing in the short- and long term. Benefits technology offers a range of resources for physical, mental, and financial wellbeing.

For example, benefits technology may offer comprehensive wellness programs, telehealth services, comprehensive wellness programs, and financial planning tools to help employees care for their own welfare.

Elevate Your Recruitment and Retention with Benefits Technology

Offering benefits is important for attracting and retaining talent, but it’s not enough if they can’t use their benefits to their fullest. Benefits technology streamlines the entire process and gives employees – and your HR staff – vital tools to maximize your benefits offerings and promote a more positive experience. 

Frank Mengert continues to find success by spotting opportunities where others see nothing. As the founder and CEO of ebm, a leading provider of employee benefits solutions. Frank has built the business by bridging the gap between insurance and technology-driven solutions for brokers, consultants, carriers, and employers nationwide.