{"id":12281,"date":"2024-10-25T14:03:14","date_gmt":"2024-10-25T20:03:14","guid":{"rendered":"https:\/\/compt.io\/?p=12281"},"modified":"2025-03-19T18:42:47","modified_gmt":"2025-03-20T00:42:47","slug":"5-employee-benefit-mistakes-haunting-your-talent-strategy","status":"publish","type":"post","link":"https:\/\/compt.io\/blog\/5-employee-benefit-mistakes-haunting-your-talent-strategy\/","title":{"rendered":"5 Employee Benefit Mistakes Haunting Your Talent Strategy"},"content":{"rendered":"\n

When carving out your benefits strategy, the smallest of employee benefit mistakes can turn an incredible perk from a treat to a trick. (Oh yeah, we\u2019re just getting started with these puns.)<\/p>\n\n\n\n

On the surface, benefits are something employers offer to their employees that are either mandated or added on to an existing benefits program as part of an employee\u2019s total compensation package. <\/p>\n\n\n\n

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What\u2019s more, according to a recent report from Mercer, 85% of Human Resources leaders believe personalized benefits are a must<\/em>. Jokes aside, your cookie-cutter approach to benefits just won\u2019t work.<\/p>\n<\/blockquote>\n\n\n\n

But to keep your benefits package from becoming a house of horrors, there are clear right and wrong ways to sweeten the (jack-o-lantern) pot. <\/p>\n\n\n\n

Let\u2019s go through a few:<\/p>\n\n\n\n

1. Make your benefits heal, not haunt<\/h2>\n\n\n\n

Offering just the bare minimum when it comes to health insurance is a surefire way to scare qualified candidates away. Today, employees want choice and more options when it comes to their healthcare, which can include all aspects of well-being from physical to mental, financial, and everything in between.<\/p>\n\n\n\n

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With Compt\u2019s health and wellness stipends<\/a>, your people can choose what\u2019s best for their well-being, from gym memberships to mental health support. <\/p>\n<\/blockquote>\n\n\n\n

Health and Wellness consistently tops the list of Compt categories by spend, noting in our latest lifestyle benchmark report<\/a> it accounted for 17% of overall spend (outnumbered only by Food, at 18%). <\/p>\n\n\n\n

2. Don’t put your L&D program in the graveyard<\/h2>\n\n\n\n

Is your learning and development program wearing a mask, with employees not really understanding what\u2019s available or how to access it? <\/p>\n\n\n\n

Show your program\u2019s true colors and make it easy for employees to understand and use the benefits available to them. <\/p>\n\n\n\n

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Don\u2019t bury your L&D benefits in a graveyard \u2014 your people need better awareness and benefits they\u2019ll actually use to help them advance in their career. <\/p>\n<\/blockquote>\n\n\n\n

Courses, certifications, conferences \u2026 now that\u2019s the right kind of candy to fuel professional development. <\/p>\n\n\n\n

Psst. <\/em>We\u2019re developing something awesome for you L&D folks that your people will love. Get in touch with us<\/a> to learn more! <\/p>\n\n\n\n

3. Support zombie brains through comprehensive mental health programs<\/h2>\n\n\n\n

It\u2019s a fact: Without mental health support, your employees could feel haunted by stress.<\/p>\n\n\n\n

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Findings from Deloitte<\/a> report that 77% of respondents say they have experienced employee burnout at their current job, with more than half citing more than one occurrence. <\/p>\n<\/blockquote>\n\n\n\n

Instead of directing your employees to a meditation app and ignoring their needs, why not offer them a wellness stipend that covers so much more? <\/p>\n\n\n\n

Put mental health in the spotlight and give your employees an opportunity to reimburse what matters to them. We\u2019re talking therapy, wellness retreats, or, hey, maybe some goat yoga? <\/p>\n\n\n\n

4. Make your people feel Spook-tacular!<\/h2>\n\n\n\n

A thank you is a great start, but do your employees have an easy way to show that they appreciate all the hard work that goes into making a business succeed? <\/p>\n\n\n\n

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The same report<\/a> cited previously from Deloitte names the top <\/em>driver of employer burnout (nearly a third of respondents) as lack of support or recognition from leadership.<\/p>\n<\/blockquote>\n\n\n\n

Show your people that they\u2019re fang-tastic (oh yeah, we went there) with a dedicated recognition program. With Compt, you can even integrate a monetary or non-monetary reward and recognition program with often-used channels like Slack or Teams. <\/p>\n\n\n\n

Doesn\u2019t that sound purrrfect? <\/p>\n\n\n\n

5. Don\u2019t promote a bare-bones retirement program. <\/h2>\n\n\n\n

Could your retirement program use a little more meat on its bones? A barely-there retirement program doesn\u2019t move the needle for financial support. <\/p>\n\n\n\n

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Consider adding onto that 3% with a better match plan or additional financial wellness stipends for retirement planning, financial advising, or budgeting tools. <\/p>\n<\/blockquote>\n\n\n\n

Think outside the (jack-in-the)<\/em> box when it comes to how you can boost your people\u2019s financial wellness. Could you offer more support in high-cost areas like housing, food, or family? An all-inclusive stipend can help employees choose to reimburse funds for what they truly need. <\/p>\n\n\n\n

Turn your benefits from a fright to a delight: Avoid employee benefit mistakes<\/h2>\n\n\n\n

While employers can\u2019t be the ultimate Life Saver for their people, it\u2019s important to give \u2018em pumpkin to talk about. <\/p>\n\n\n\n

In all seriousness, your benefits can be a stepping (head)stone to a company culture that attracts the very best employees. Isn\u2019t it time you sliced out some time to give them another look? <\/p>\n\n\n\n

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