“Employees increasingly want to take control of their benefits. They want and expect their benefits to work like any online shopping experience.”
– BenefitsPRO Magazine
There is a win-win for employers that see employee benefits as something more than simply a cost center. Talented employees are smart employees. They understand technology and how the personalized economy work. Smart employees want to be able to select their benefits packages based on their personal needs and algorithms that explain why a personalized plan works well for them in much the same way Amazon provides this information when they shop online.
A private company healthcare exchange and an internet, portal-based voluntary benefits program (along with education) provide this same personalized experience to employees. It is very inexpensive to offer these benefits and it saves the employer time during open enrollment and new employee on-boarding. Perhaps the biggest upside to the employer is that personalized, employee-driven benefits moves the company away from offering the “lowest common denominator” when trying to attract top talent. Instead, offering an array of options allows these smart employees to make the best choices for their families…and ultimately for the company.