Did you miss Getting Personal with Compt and guest Sabrina Greenwood-Briggs? Read the recap of our chat here!
In today's fast-paced and ever-changing world, employees are seeking more from their employers than just a paycheck. They want a workplace that offers benefits and support that help them achieve their personal goals and improve their quality of life.
We spoke with Sabrina Greenwood-Briggs, an independent consultant and strategist, who shared her insights on lifestyle benefits and how small businesses can offer more than just the basics to their employees. Sabrina helps smaller companies strategize on how to meet the needs of their employees without breaking the bank. She also advises businesses to look beyond standard benefits and consider accommodations that their employees may need for their work-life balance.
Watch the full episode!
Go beyond the table stakes
As an expert in workplace benefits and employee engagement, she recognizes how difficult it can be for smaller businesses to navigate the complex world of lifestyle benefits and strategize how to best invest their resources to meet their employees' needs. While traditional benefits like medical insurance, dental, and vision are still essential, Sabrina emphasizes that today's employees want more than just healthcare coverage. They want a full suite of benefits that support their entire lives, from debt reduction and mental health benefits to pet insurance and support for starting a family or buying a home.
Sabrina believes that lifestyle benefits aren’t just a trend, but a better way to approach talent acquisition and retention from a total compensation lens. Companies are beginning to realize that what they think is important is not necessarily important to their employees. She suggests that employers should listen to their employees' wants and needs and create a plan that suits their specific requirements. For example, newer generations want better support from their managers, which may include benefits such as support for paying off student loans, starting a family, or buying a house.
Sabrina also emphasizes that there is no one-size-fits-all approach when it comes to employee benefits. Even a small team of employees can have different needs and wants from the company's benefit plan. She shared an example of her small HR team at a company who all lived completely different lives, some younger, some older, some with children, some without, etc. She advises employers to listen to their employees' concerns and create a tailored approach to benefit plans. For example, a person with cats like Sabrina may appreciate having pet insurance or access to it as a part of their benefit plan, whereas someone else may require mental health benefits.
One of the biggest challenges for small businesses is the cost of offering a comprehensive benefits package. Sabrina understands that not every employer can afford to offer every benefit under the sun, so she works with her clients to identify the most pressing needs and prioritize their investments accordingly.
But cost isn't the only challenge. The world of benefits and support is complex and constantly evolving, with new laws and regulations being introduced all the time. For employers - and HR - it can be overwhelming to keep up with all the changes and ensure that their benefits are compliant and effective.
One people-tech tool to rule them all
That's where tool consolidation comes in. Sabrina recommends that employers consider using integrated tools that consolidate different benefits and support programs into a single platform. By using an integrated tool, employers can simplify the management of their benefits program, reduce the administrative burden on HR staff, and ensure that employees have easy access to the support they need. Sabrina also emphasizes that these tools should be easy to use, integrated with the payroll system, and provide tax implications.
Ultimately, offering a comprehensive benefits package that supports employees' personal goals and quality of life is a win-win for both employers and employees. Employees feel valued and supported, leading to increased engagement and productivity, while employers benefit from a happier and more loyal workforce. With the help of experts like Sabrina, small businesses can navigate the complex world of lifestyle benefits and offer their employees the support they need to thrive.
Get in touch with Sabrina at sabrinalousia.com.