It’s Time to Review your Employee Benefit Program

written by Mike Alexander Jr.   04/26/2021

In a survey conducted by, 98% of the 500 leaders surveyed stated that they plan to offer new and/or expanded benefits for their employees, prioritizing things like childcare, flexible hours, and mental health support. Now, more than ever, benefits programs could be a deciding factor for people when choosing an employer. If you want to attract and retain the best employees, you have to be competitive not just in salary, but in your benefits offerings as well.

How COVID-19 Changed Everything

There’s no denying that life and business were turned upside down because of the pandemic and lockdown. With so many businesses moving to remote work models, employers and employees alike have been forced to adapt and reassess their priorities.

As families have gone into lockdown, they’ve faced complications and compromises. With children attending classes online at home, some parents are suddenly without any sort of childcare that would allow them to maintain their regular work. 

And children are the only loved ones in need of care and attention. Many employees have elderly relatives that they care for and many of them have already switched their senior care options or are now considering switching to in-home care.

For others, the social distancing has meant they are socially isolated, making mental health support more important than ever. 

Which Benefits Really Matter

When reviewing your current Employee Benefit Program, you need to stop and consider which benefits really matter in a post-COVID business. Think about the problems that employees are facing and whether the benefits truly help make their lives better and fuller.

In “The Future of Benefits” report that published, 89% of leaders said that while they were adding and expanding some benefits, they were compensating by reducing or eliminating others. Consider which benefits don’t really matter or help your employees now.

For example, on-site child care centers might have been a huge perk for employees prior to COVID, but now it would be more beneficial for them to have more flexible working hours while their children are learning at home. 

Other on-site perks like gyms or lounges with free snacks or meals no longer matter. Instead, having mental health support to help employees cope with social isolation is much more important. 

And it doesn’t stop with the mental health of your employees. During the pandemic, the CDC reported an increase in ER visits for children and teenagers related to anxiety and depression. That means that employees are looking for mental health benefits that will support not just themselves, but their families as well.

Attract & Retain the Best Employees

Choosing the right benefits for your company and your employees can be daunting. There’s no perfect right or wrong answer on which benefits to offer or what care providers to work with. Each and every business is as unique as the employees that work there.

ABM has worked in the benefits industry for 32 years and I used this experience to create the Employee Benefits Blueprint—your secret weapon go attract, motivate, and retain quality employees!

In this 129-page book, I compiled a comprehensive guide to help you better understand different types of benefits and coverages so you can make the right decisions for your employees. 

During his 32-year career, I worked as an underwriter and contracting specialist for national insurance companies, giving him extensive knowledge that he wants to share with you, giving you insight that you can leverage to make the choose the best benefits for your business.

Cost of Employee Benefits

This is more than just a monetary cost associated with the price tag on the benefits package you choose to offer. There are a lot of things to consider when discussing the benefits you want to offer. 

First, consider the cost of recruiting, hiring, and training new employees. Think about the time it takes from your HR staff, managers, and supervisors to not only find the right employee but also bring them up to speed.

Then imagine how much money you could save if you didn’t have to continually go through this process. How much time and money could you save by retaining not just any employees, but your best employees?

Offering your employees a good benefits package will help you retain them. And, when you do have openings and need new employees, a competitive benefits offering will help you attract the best and strongest applicants. You might even find that you get more employee referrals when your current employees are happy and feel supported.

If you currently offer benefits or thinking of adding them, call me to schedule a 15 minute discussion at 800-362-2809.   I know benefits and can save you hours of time and frustration.