3 Signs It’s Time to Review and Upgrade Your Benefits Package

Offering benefits package
October 10, 2022
James Ashford

A routine inventory of your benefits package can tell you where you may be able to reduce spending and, equally importantly, can also ensure that it continues to meet the needs of employees. That’s why Vision Care Direct of Oklahoma recommends reviewing your benefits package regularly in order to promote vision health in OKC and other states.

Here are 3 signs it may be time to review your own benefits package and make a few positive changes.

Increase in Hybrid/Remote Workers

The pandemic has resulted in significant changes for many industries, and it has, therefore, also transformed the way many businesses operate. If you have been moving toward a hybrid model with flexible work-from-home options or remote employees, for example, the needs of your employees have likely changed.

According to this article, an annual benefits survey conducted by the Society for Human Resource Management found that almost 80% of organizations expanded options related to remote work in 2020. Some of these include childcare leave, adult caregiving leave, and even mental health services.

If you haven’t reviewed your benefits package since the start of the pandemic, now is a good time to do so.

Employee Satisfaction

Is your organization struggling with employee satisfaction? How well do your employees feel cared for, both on the clock and off? According to CNBC, during what has become known as the Great Resignation, employees are leaving their jobs for ones with better working conditions and more attractive benefits.

One way to make sure employees feel valued and appreciated is through feedback surveys. These allow employees to feel valued and heard. What benefits would they like to have now or at least see in the near future? Let them build their own benefits package based on their individual needs. Not only will this promote vision health in OKC and other states—but it will also contribute toward employee motivation and satisfaction.

While issues with turnover and hiring can have multiple causes, they can also indicate that it’s time to review your benefits package. Be sure to do this regularly to avoid losing highly qualified, skilled employees.

Access and Reimbursement

Another thing to consider when it comes to reducing spending while still meeting the needs of your employees, particularly if you have a larger group to insure, are the package costs and coverage. How much are your packages, and what exactly do they include? As insurers reduce their reimbursement rates, for example, some healthcare and vision care companies have dropped their plans entirely.

What percentage are you being reimbursed for services and materials? Are your employees limited in their options? Ask yourself if there have been any changes in the size of the vision care network that employees have access to. If so, what does that change mean for employees?

Looking at things like provider access and financial reimbursement can help provide vision health in OKC and surrounding states, as well as ensure that you have the best benefits package for your company.

Vision Health in OKC and Beyond

As one of the leading providers of vision plans, Vision Care Direct of Oklahoma ensures that vision health in OKC—and in other states—is a top priority. Because of this, VCD of OK and nationwide encourages a regular inventory of your benefits package. Doing so will not only ensure that you aren’t spending unnecessary money on irrelevant or mismatched benefits, but it’s also a good way to make sure your employees are satisfied and well taken care of. During a time of such stress and uncertainty, don’t make matters worse by losing valuable, seasoned employees. For more information about the right plan, contact us today!

Not sure where to get started with recommending self-funded plans? Vision Care Direct of Oklahoma is pre-paid plan provider with and extensive of specialists who deliver eye care in Tulsa and nationwide with excellent value for employers and plan recipients.

Find out more about our self-funded plans and other flexible options.

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