2020 is here and off to a roaring start – which means that many employers will soon be making decisions that will shape their benefits program in 2021 and beyond. With continued low unemployment, ongoing workforce generational shift and competition for top talent at an all-time high in many industries, employers are seeking new and innovative ways to ensure their benefits program delivers the enhanced value and choice their workforce requires to meet diverse and changing needs – in short, to ensure the company is viewed as a desirable, long-term employment destination. Voluntary benefits continue to be a valuable component of the talent attraction/retention equation. Employers have taken notice of the advantage of voluntary benefits, with more than 90% of employers now offering at least one in their benefits program, according to Mercer’s National Survey of Employer-Sponsored Health Plans.
However, just offering voluntary benefits isn’t always enough to achieve the desired results. To optimize the value of voluntary benefits within your overall benefits program in 2021, consider these three important strategies: