{"id":20991,"date":"2019-06-25T16:24:21","date_gmt":"2019-06-25T15:24:21","guid":{"rendered":"https:\/\/benefex-dev.local\/en\/2019\/06\/25\/why-you-need-a-benefits-strategy\/"},"modified":"2019-06-25T16:24:21","modified_gmt":"2019-06-25T15:24:21","slug":"why-you-need-a-benefits-strategy","status":"publish","type":"post","link":"https:\/\/benifex.com\/en\/why-you-need-a-benefits-strategy\/","title":{"rendered":"Why You Need a Benefits Strategy"},"content":{"rendered":"<p><span style=\"font-family: arial, helvetica, sans-serif; font-size: 20px; color: #000000;\">Does your organization have an employee benefits strategy? If you answered no, you\u2019re not alone; more than half of the HR managers who participated in Sweden&#8217;s largest benefits survey, Benify Score, answered no this question. However, as many as 76% have made changes to their benefits offering over the past two years. <\/span><\/p>\n<p><span style=\"font-family: arial, helvetica, sans-serif;\"><!--more--><\/span><\/p>\n<p><span style=\"font-family: arial, helvetica, sans-serif;\">Our Benify Score survey revealed that more than 70% of the survey\u2019s top performing organizations say they operate according to a benefits strategy and more than half of the top performing organizations say they review their benefits offering at least once a year.<\/span><\/p>\n<h2>Can Benefits Improve Workplace Happiness?<\/h2>\n<p style=\"font-size: 20px;\"><span style=\"font-family: arial, helvetica, sans-serif;\">Our data reveals a clear correlation between benefits satisfaction and workplace engagement. Workplaces with low benefits satisfaction are likely to suffer from poor engagement, while, unsurprisingly, workplaces with high benefits satisfaction are likely to experience corresponding levels of high engagement.<\/span><\/p>\n<p style=\"font-size: 20px;\"><span style=\"font-family: arial, helvetica, sans-serif;\">Our results show that employees at organizations with a benefits strategy are:<\/span><\/p>\n<ul>\n<li><span style=\"font-family: arial, helvetica, sans-serif;\"><strong>20%<\/strong> more satisfied with their benefits<\/span><\/li>\n<li><span style=\"font-family: arial, helvetica, sans-serif;\"><strong>19%<\/strong> more convinced their benefits are better than other workplaces<\/span><\/li>\n<li><span style=\"font-family: arial, helvetica, sans-serif;\"><strong>14%<\/strong> closer to their employer\u2019s brand<\/span><\/li>\n<\/ul>\n<p><span style=\"font-family: arial, helvetica, sans-serif;\"><img decoding=\"async\" src=\"https:\/\/cdn2.hubspot.net\/hubfs\/2798830\/All%20Markets\/Blog%20images\/benefitsstrategy.jpg\" alt=\"benefitsstrategy\" width=\"1000\" style=\"width: 1000px; margin: 0px;\"><\/span><\/p>\n<h2>There are many reasons for employers to implement a benefits strategy. Here are three of them:<\/h2>\n<h2>1. Better Control Over Costs<\/h2>\n<p><span style=\"font-family: arial, helvetica, sans-serif;\">Different suppliers, different systems, benefits added or removed, all without anyone having a clear overview of the offering. Sound familiar? Most likely. Does this approach sound cost-effective? Unlikely.<\/span><\/p>\n<p><span style=\"font-family: arial, helvetica, sans-serif;\">If your benefits offering is too difficult to grasp for you as an employer, it\u2019s likely the same for your employees. As a result, employees spend unnecessary time and energy looking for information or take up valuable time from HR with questions about their benefits.<\/span><\/p>\n<h2>2. Stronger Employer Brand<\/h2>\n<p><span style=\"font-family: arial, helvetica, sans-serif;\">What values are important to your organization, and how are they reflected in your benefits offering? There are many strong indications that having the right values is becoming increasingly important to current employees and those currently on the job market, the least not millennials and Generation Z who are more likely than older generations to change jobs for better employee benefits. <\/span><\/p>\n<p><span style=\"font-family: arial, helvetica, sans-serif;\">For company values to be seen as credible, and not merely nice words, they need to permeate throughout the entire organization, including the benefits offering itself.<\/span><\/p>\n<h2>3. More Satisfied Employees<\/h2>\n<p><span style=\"font-family: arial, helvetica, sans-serif;\">Does your organization\u2019s benefits offer match what your employees <em>actually <\/em>need and want? The results from Benify Score are clear: employers who follow a benefits strategy have employees who are more satisfied with their benefits and more likely to see themselves as positive ambassadors of the employer brand. And as every organization knows, it pays to have happy and engaged employees.<\/span><\/p>\n<p><span style=\"font-family: arial, helvetica, sans-serif;\">So, how satisfied are your employees with their benefits? Are they even aware of your benefits offer? What characterizes a strategically designed benefits offering? What is your overall purpose for offering benefits? These are just a few of the questions you should be asking yourself.<\/span><\/p>\n<p><span style=\"font-family: arial, helvetica, sans-serif;\">Need help getting started with your employee benefits strategy? Be sure to download <a href=\"https:\/\/info.benify.com\/5-steps-to-a-successful-benefits-strategy\" rel=\"noopener\" target=\"_blank\"><em>Five Tips for a Successful Benefit Strategy<\/em><\/a> &#8211; absolutely free.<\/span><\/p>\n<p><span style=\"font-family: arial, helvetica, sans-serif;\"> {{cta(&#8216;d161d218-a747-4139-8d4d-8c03c0a4d2c6&#8242;,&#8217;justifycenter&#8217;)}}<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Does your organization have an employee benefits strategy? If you answered no, you\u2019re not alone; more than half of the HR managers who participated in Sweden&#8217;s largest benefits survey, Benify Score, answered no this question. However, as many as 76% have made changes to their benefits offering over the past two years.<\/p>\n","protected":false},"author":17,"featured_media":20992,"comment_status":"closed","ping_status":"open","sticky":false,"template":"tpl.news-post.php","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"categories":[728,730],"tags":[732,734],"class_list":["post-20991","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-employee-benefits","category-employee-engagement","tag-employee-benefits","tag-employee-engagement"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.7 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Why You Need a Benefits Strategy<\/title>\n<meta name=\"description\" content=\"In this post, we look at 3 reasons why it\u2019s vital employers have an effective employee benefits strategy. 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