the-strategy-1080527_1920The end of the year is a time when many business owners start thinking about priorities and strategies for the coming year. What’s important to remember as you assess where your company is headed, is that your employees play a key role in the success or failure of your business. As a result employees engagement, which is seeing some of its lowest levels in history, is crucial.

According to a recent Towers Watson study, only four out of ten employees are highly engaged in their workplace. Around 25{d044ab8acbff62f209a116f8142e303cb886f535b0fcf58cb82cde7cb327d3c9} are disengaged, and as many as 36{d044ab8acbff62f209a116f8142e303cb886f535b0fcf58cb82cde7cb327d3c9} say they feel completely detached and unsupported at work. Those are not good statistics, give how important employee performance is for the success of a business.

Taking a look at the benefits your company offers is a great way to ensure that your employees are well engaged and motivated. And according to a 2013 Gallup poll, engaged employees provide 10{d044ab8acbff62f209a116f8142e303cb886f535b0fcf58cb82cde7cb327d3c9} better customer satisfaction, are 21{d044ab8acbff62f209a116f8142e303cb886f535b0fcf58cb82cde7cb327d3c9} more productive, and make their companies 22{d044ab8acbff62f209a116f8142e303cb886f535b0fcf58cb82cde7cb327d3c9} more profitable. We think you’d agree those are much better stats.

But it isn’t enough to merely give your employees what they want. It’s important to offer a comprehensive benefits package that matches the vision, goals, and strategy of your company. Here are some areas to consider when deciding which benefits to offer.

Your Talent Pool

Where does your company stand in terms of talent? If your main goal in this area is retention, then it’s important to focus on offering the benefits that are most important to your current employees and their needs. However, if you’re looking to recruit new talent, they’re likely going to be interested in important areas like health and wellness, work-life balance, and financial security.

The Status of Your Business

While it’s great to offer employees an attractive benefits package, it’s also important to ensure your company is in a position to do so without jeopardizing the bottom line. Offer what’s most important for keeping your employees engaged, knowing you can always increase those offering as that investment brings you successful returns.

Your Workplace Demographics

The American workforce is a melting pot of Millennials, Gen Xers, and Baby Boomers. And it’s likely your workforce looks like a cross section of that. Remember that the same model that appeals to Baby Boomers won’t necessarily be attractive to a millennial. By offering a wide selection of benefits, you can better motivate employees with widely varying needs.

It’s important to note that the battle doesn’t just stop when you’ve decide which benefits to offer. It also matters how those options are communicated to your employees. Consider which of your employees might prefer online or mobile communication vs. those who might rather meet with a benefits professional one-on-one.

As you head into 2016, don’t overlook your company’s biggest asset: your employees. Increasing their engagement and strengthening your relationship with them can better position you for success in the coming year!