Looking for a way to beef up your employee benefits without adding a lot of additional cost and administrative obligations? Voluntary benefits could be your answer.

key-2114334_1920Offering these customizable benefits is a great way to give your employees access to important coverages they might not otherwise be able to afford, which in turn gives them peace of mind and a deeper appreciation for their overall benefits package.

Applying for voluntary benefits through an employer is generally simple. Issuance is usually guaranteed. And, since premiums are usually paid through payroll deductions, that’s one more thing your employees won’t have to worry about forgetting.

Voluntary benefits are also a great way to help bridge the gap if you’re already being forced to save money by shifting more of the health insurance cost burden onto your employees by offering plans with higher deductibles. Though these types of measures are necessary in today’s economic climate, the addition of voluntary benefits is a great way to help offset expenses.

So, what’s the first step to take if you’re considering offering voluntary benefits for the first time or increasing the number of options you already have available?

Well, you should definitely start by talking to your employees. Find out what types of benefits they feel would be the most beneficial for them and their families. You can also look at your current benefits package to see which ones are the most popular.

Another important thing to consider is which types of voluntary benefits offer the most value for the lowest cost. If the only benefits you’re offering are the ones that are most expensive for your employees, this could greatly affect the way they perceive the value of what’s being offered them.

Once you decide on which benefits to offer, make sure your employees are well informed and educated about these new options. Then follow up with them on a regular basis to make sure their benefits offerings are meeting their needs.

What’s great about voluntary benefits is that, unlike one-size-fits-all health insurance plans, they can be customized to meet the needs of each individual customer. They allow employers to offer benefits that appeal to a very diverse employee pool, keeping costs low and satisfaction high. Everybody wins!