Businesses are having to quickly adapt to a rapidly changing workplace environment, and this is especially clear as they respond to a tightening labor market.
“Companies are needing to provide more benefit choices than ever before to attract and retain employees,” says Don Biron, senior consultant with Milliman. “Even small companies are offering more programs and choices within health and dental plans, which creates more complexity in administering benefits.”
Michelle Hernandez, Conduent Human Capital Solutions’ Vice President and General Manager, concurs, saying that despite a company’s size, if they have generational diversity in the workforce, or employees working from different environments or locations, it can be more complicated to administer benefits.
“It makes a difference in the level of effort that needs to be put in,” says Hernandez, adding that it’s about controlling costs and engaging employees, as well as “how you bring it all together.”
Press play to hear more from Michelle and Don about employees’ benefits expectations, how to prioritize the challenges and what changes to expect and what a “great” benefits program looks like.
And click here to listen to other podcasts from Conduent’s BenefitsPro podcast series.