Benefits Audit Checklist
Is your benefits package working for or against employee engagement?
Employee benefits are intended to make your staff feel happy and valued in the workplace, resulting in more motivated and productive teams. They should show that you, as an employer, know and understand what employees want as well as what they need.
The world of employee benefits is constantly shifting, due in part to the changing demographics in the workforce. Unfortunately, this makes ensuring that your benefits package still fulfils it’s intended purpose somewhat challenging. At Personal Group we recommend you undertake a full benefits audit regularly to ensure that what you have is fit for purpose and that you are providing what your staff actually need. A full benefits audit can be broken down into five easy steps:
1. List the benefits you already have.
- What are they?
- Where are they?
- Which staff are they available to?
- How do staff access them?
- Are they varied?
2. Examine their usage.
- How many staff use 1 or more benefits?
- How many use 3, 5 or 7 or more benefits?
- How many use them regularly?
- What are the most used benefits?
- Does usage vary by time of year or time of day?
3. Profile your employees.
- Have the demographics shifted?
- Are they all office based?
- What challenges are they facing in and out of work?
4. Check your communication.
- Do staff know about the benefits available?
- How are your benefits communicated? Email, poster, via managers, HR roadshows, word of mouth?
- How often are they communicated?
- Who can employees ask about their benefits?
5. Rate your benefits package.
- Are the benefits easy to access by all staff? Office based, field based, home based etc
- Are they being communicated correctly?
- Do employees fully understand what they are, where they are, how to access them and which ones are available to them?
- Are they relevant and meaningful to all your employees?
- How many benefit advocates do you have?
So what are you waiting for? Grab a pen and paper and get auditing!