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Checklist: Designing a Strategic Benefits Package

Checklist: Designing a Strategic Benefits Package

Here are some issues to consider in helping your organization design a strategic benefits package --that is, one that meets the needs of your workforce, serves your hiring and retention goals, and makes sense for your bottom line:

  • Take a demographic snapshot of your workforce to help understand the needs of your employees. Be sure to capture different employee constituencies, if applicable, to determine if you should be aware of any specific patterns. For example, "Baby Boomers" may have the need for retirement planning benefits and more medical care needs than when they were younger. Or perhaps you have a young workforce that needs child-care benefits. Or employees in the "sandwich" generation that need elder care benefits.
  • Review your organization's policies, benefits and programs to determine what is currently offered.
  • Measure usage of existing benefit programs.
  • Compare the fit between existing programs and your workforce's current and projected needs. If differing employee needs surfaced in the demographic snapshot, make sure your comparative analysis also considers these groups.
  • Identify new policies and programs or fine tune existing policies and programs.
  • Consider organization culture and workflows to ensure proposed new policies and programs will be supported in the work environment.
  • Stress the availability of useful benefits and programs.
  • Make sure you put your benefit dollars where they will bring you the most value.

Reprinted with permission. © CCH

<p>Checklist: Designing a strategic benefits package; one that meets the needs of your workforce, serves your hiring and retention goals, and makes sense for your bottom line</p>

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