Not Just a Paycheck
Educating employees can yield higher enrollment, a greater appreciation for your benefits package, and increased loyalty to your company. Many employees are not financially savvy, but are interested in learning. Education from the employer can foster a stronger company-employee relationship and bottom-line savings.
When companies invest in their team members, employees see their positions as a career rather than a paycheck. They are likely to be more productive and stay with the company longer, which in turn can save your company thousands of dollars when trying to replace an employee.
Let’s be honest – employee benefits can be confusing and hard to figure out. In fact, 54% of employees say that selecting a health plan is more complicated than solving a Rubik’s Cube. Education is critical for many reasons.
Starting the process of education early facilitates development of the best health plan strategy for the company and proper utilization by the employee. Educating employees should be ongoing throughout the year and not left for open enrollment. Explaining the investment you make will help your employees appreciate your commitment to them and demonstrate that you care about them as individuals.
Make Better Decisions
Educated employees make better choices. By encouraging employees to be consumers of healthcare, they will be able to make decisions based on costs and the outcomes that are desired. For example, employees who choose generic alternatives to prescription drugs can help contain skyrocketing drug costs for your business. Consumerism provides cost savings to both employees and employers and a significant return in terms of illness prevention. The positive impact of medical expenses that don’t occur due to preventive care represents real dollar savings for employers and employees but can only happen through ongoing education.
Employees are a company’s number one asset. By investing in your employees’ health and empowering them to make wiser healthcare decisions, you are benefiting them, their families, and your company. A push toward education, prevention, and consumerism is the first step in a proactive solution to reduce your company’s healthcare costs. Demonstrating the well-designed benefits you are offering, reinforces to your workforce and their families, that you are not just a paycheck but a valued employer.