Questions to Ensure Alignment on Employee Wellbeing Objectives

Employees won’t value a benefits plan if we don’t value them when developing it.

Companies are clearly investing in their employee benefits plans. According to the Bureau of Labor Statistics, private industry employers spent an average of $34.72 per hour worked for total employee compensation in December 2019. Of that, benefits costs averaged $10.37, or nearly 30 percent of total compensation.

But the question remains how much value these companies, let alone their employees, are getting out of them. Far less than all of us as industry professionals might hope, given how lack of employee engagement can lead to making healthcare decisions without proper information or context. This can mean missed opportunities to improve wellbeing, poor health outcomes, lost productivity, and a greater risk for developing chronic conditions.

Put employees at the heart of the benefits plan
Fortunately, you, as brokers and employee benefit decision makers, can help. And, with open enrollment right around the corner, there’s no time like the present.

It comes down to building a plan from the employee’s perspective – putting them at the heart of the benefits plan-- to remove barriers, provide timely, credible information, make the right actions easy, spur healthy behaviors, and encourage ongoing participation in a seamless wellbeing journey.

The first step – ensure alignment on employee wellbeing objectives
The first step to building a plan from the employee’s perspective is ensuring alignment on employee wellbeing objectives, which in turn need to be driven by company business goals and employee population needs. This requires an in-depth assessment between employer and broker to help define the specific challenges for both the business and its employees.

Ask these questions to get employers and brokers aligned:

• What are the age, education level, and average salary of the majority of the employees?
• What does the company believe is currently driving cost trends?
• What is the benefits philosophy of the company? Beyond cost as an immediate consideration, to what level might strategies be introduced that make employees partners in the utilization of the benefits plan to both reduce costs over the long term and potentially deliver greater value?
• How does the company create value? What are the core capabilities and what role does talent play?
• Where do the majority of employees fall on the health spectrum, from healthy to chronically ill, as well as the spectrum from actively disengaged to those engaged employees who are ready to take action?
• What are the environmental and behavioral barriers to employees fully engaging with the benefit plan? Are there communication challenges? Are there multiple locations? Are employees office-based, working from home, or a mix of the two? Are most employees sedentary or active on the job?
• What are the primary business goals?
• Are the business goals relatively new or been in place for some time? Have they been influenced by a recent leadership transition?
• How are they attracting and recruiting the best talent and nurturing existing talent? How do they envision the benefits plan playing a role?

Read our white paper, Through Engagement to Action: A Wellbeing Roadmap.
Discover how six simple steps, including the one we just reviewed, form the nucleus of a roadmap that will lead to sustainable, healthier, and financially sound behaviors, resulting in improved employee wellbeing and employer bottom line.

Read our white paper, Through Engagement to Action: A Wellbeing Roadmap.

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Let us know how we can help
With smarter benefits, a longer-term strategic approach and a caring, personalized service that builds trust and drives greater employee engagement, Trustmark offers employee benefits that go beyond the expected.
We’d appreciate the opportunity to show you what that looks like.