A smart benefits strategy can boost productivity, improve retention, and give your business a competitive edge.

Turn Costs into a Competitive Advantage

Hiring, retention, and hybrid work aren’t the only challenges keeping business leaders up at night. Rising healthcare costs and complex benefits decisions have emerged as major hurdles, not just for employers but also for employees struggling to navigate and afford them.

➡️ ➡️ READ MORE:  Are Your Benefits Keeping Up?

Still, forward-thinking companies are transforming these challenges into opportunities. How? By viewing employee benefits as a strategic investment rather than an operational expense, employers can unlock measurable returns in terms of retention, productivity, and employee satisfaction.

The Rising Cost of Care

Why It’s Time to Rethink Your Benefits Strategy

Healthcare costs continue to rise. According to the Milliman Medical Index, the annual cost of healthcare for a typical family of four now tops $35,000, with a 6.7% increase this year alone. While employers still shoulder the bulk of the expense, more costs are shifting to employees, and it's taking a toll.

A Gallup survey shows that 12% of Americans have borrowed money to cover healthcare costs. Even high earners worry that a serious illness could disrupt their financial stability, and that stress follows them to work every day.

Nearly half of employees report that financial stress impacts their ability to focus. The ripple effect? Reduced productivity, burnout, delayed care, and low morale.

📊ROI Insight: Employers that view benefits as part of a holistic well-being strategy, rather than a compliance task, see stronger culture, less absenteeism, and more engaged teams.

Clarity Over Complexity

Communicate to Maximize Value

Offering a generous benefits package is great, but if your employees don’t understand it, it’s money wasted.

On average, employees spend just 18 minutes per year making benefits decisions. That’s hardly enough time to navigate complex terminology and disconnected systems.

When it comes to benefits, employees want more education. In fact, 73% of employees surveyed said they want a program that's easier to understand, and a quarter feel underinformed. When people don’t understand their options, they skip preventive care, ignore support programs, and flood HR with questions.

📊ROI Insight: Streamlined, jargon-free communication and digital tools that deliver personalized, timely information can boost benefits utilization, lower costs, and lighten the HR load.

Personalization = Power 

Align Benefits With Real Lives

Employees don’t want more benefits; they want the right ones. Gen Z, Millennials, Gen X, and Boomers all bring different needs to the table. A one-size-fits-all approach no longer works.

Modern platforms evaluate usage data to recommend benefits tailored to an employee's life stage, health goals, and preferences. This also allows employers to negotiate smarter provider terms and bundling services.

📊ROI Insight: Personalization drives engagement. Engagement drives retention. Retention reduces turnover. And that’s money in the bank.

Bridge the Usage Gap 

Empower Employees to Take Action

Even the most competitive benefits fall flat if employees aren’t using them. More than 85% of workers admit they’re confused about their benefits, leading to skipped care, preventable emergencies, and wasted investment.

The solution? Year-round engagement. That means workshops tailored to specific life stages, empowered managers, and interactive tools such as cost calculators and side-by-side plan comparisons.

📊ROI Insight: When employees understand their benefits, they make smarter healthcare choices and reduce costs for themselves and your business.

Adapt or Fall Behind 

The Future of Benefits Is Agile and Human

Benefits are no longer a back-office task. They’re a core part of business strategy. 

Smart employers are evolving their approach with moves like:

🔸Flexibility-first offerings from HSAs to voluntary benefits that provide real-time value
🔸Proactive support using data to tailor communications and gather feedback
🔸Tech with empathy simplifying access while keeping the human connection front and center

In a world of overwhelming choices, employees crave simplicity. The companies that deliver that experience will win the talent race.

➡️ ➡️ READ MORE: Your HR Checklist for Q3 is HERE!

📊ROI Insight: Benefits that evolve with your workforce build loyalty, trust, and a reputation as a great place to work.

Better Benefits. Better Business

Take the First Step Toward Smarter Benefits

Your business needs a benefits strategy that delivers results: healthier employees, lower turnover, and smarter spending.

Considering a change in your benefits strategy? Start by listening. A quick employee survey can uncover gaps and priorities. Then, look for user-friendly tools to simplify the experience. And remember, benefits aren’t just a once-a-year conversation. Keep the dialogue going.

Ultimately, your people are your greatest asset. When employees feel supported and secure, they perform at their best. And that’s a win-win for everyone.

Use Data to Drive Smarter Decisions

🎯The most powerful way to stand out isn’t the size of your benefits package, it’s how well you connect people to it. As open enrollment approaches, now is a good time to benchmark your offerings to find out where you stand against the competition. Our webinar, the Benefits Benchmark Report, provides valuable insights based on one of the most comprehensive benefits studies in the country.

You Will Learn:

🎥 Watch Now! Benchmarking Employee Benefits: Using Benchmark Data to Drive Smarter Decisions

Big Benny Says: "Power Up Your Benefits!"

Greetings, fearless leaders and HR pros! It’s me, Big Benny, your Benefits Champion from Propel HR, here to help you unlock the true power of your employee perks.

With expert bundling skills and a passion for workplace wellness, I’ll help you build a strategy that’s superpowered for savings and tailored for talent. So, are you ready to be the hero your team needs? Let’s transform your benefits from confusing to crystal clear, from underused to unstoppable!

💥 Contact Big Benny and the Propel HR team today

🌐 Learn more at ThePropellers.com

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About Propel HR. Propel HR is an IRS-certified PEO and trusted partner to small and mid-sized businesses for more than 25 years. We simplify HR by managing payroll, benefits, and compliance, helping companies save time, reduce costs, and stay competitive. Visit propelhr.com to learn more or call (800) 446-6567.