Flexibility is essential. Take me, for example. I can't physically bend over backward without some degree of shame or agony. Without flexibility, everyday activities become more challenging.
That same fundamental concept can be applied to employee benefit programs. Without adequate flexibility from a carrier, employers face an increasing level of "pain" in meeting the diverse needs of their employees.
But bending over backward doesn't have to hurt. It's easier when you understand why employer needs differ, and then recognize the important role flexibility plays in meeting them.
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Let's take a look at some of the basic characteristics among employers where a flexible approach can matter most.
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Employer size is immaterial. Whether the employer has 3 employees or 1,000, their needs are similar — they want to offer quality benefit programs that can adjust to the changing needs of their employee population.
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Employees have a wide range of needs. Younger employees, for example, value different benefits than older workers. Women may have different needs than men. Because employee needs are unique, the employer should offer uniquely suitable benefits, as well.
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Budgets vary. Making small changes to benefit provisions, offering a choice of plans and even making a core/ buy-up option available can provide cost savings that potentially boost participation and provide effective alternatives for any situation.
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Learning styles differ. Accordingly, education and enrollment needs differ. Look for a range of carrier options, from face-to-face needs-based counseling to online enrollment platforms.
Employee populations are dynamic and require adaptable solutions. That's why working with an insurance provider that offers flexibility is essential.
Equally important are the advantages the employer gains. Flexibility shows employees that diversity is valued, the employer is adaptable, and trust and commitment are vital — all of which help an employer attract and retain talent. Working with carriers that help you deliver customized, flexible employee benefits is a win-win all around.
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