Many benefits have been sold as “commodities” for years. Many companies continue to fight for market share at “any expense” and, as a result, get caught up in “price wars.” While they focus on growing, they fail to focus on retention. Unfortunately, within 30-60 days, most employees have forgotten what benefits they have.
These benefits, no matter how good they sound on paper, require changing behaviors and creating actions.
You need to find a company that understands the science of behavior change and focuses on building awareness and engagement, which results in greater utilization. After all, the primary reason companies consider adding the kind of benefits healthPERX brings to the table is to reduce claims and increase ROI. Of course they want to attract better quality employees and increase productivity but they want their benefits to pay for themselves.
Companies that see only 15%-20% utilization are typically losing money. Unfortunately, many companies are only experiencing about 5% utilization.
The name of the game is results.
The company you select must have a multi-faceted proven engagement and communication strategy or your benefits won’t be effective.