Three Cost-Saving Benefits Employees Actually Love
Growing up, we called my mom the Enforcer. She was the one who set bedtimes, curfews, and our daily mandatory minimum vegetable intake. My dad was the opposite. He was the kind of parent that would let us eat ice cream for breakfast. To this day, my mom always complains that she had to be the bad guy with us kids while my dad got to be the fun parent.
If you work in HR, you probably sympathize with my mom. Managing employee benefits is a lot like being a parent. After all, its easy to feel like the bad guy when you need to show savings at the expense of deeply treasured benefits. Or in the case of many parents, ensuring a balanced diet at the expense of an awesomely unhealthy breakfast.
But it doesnt have to be this way. While parents everywhere are still waiting for an ice cream flavored vegetable, you HR pros are in luck. There are already several employee perks that can actually help boost your company’s bottom line.
Here are our top picks:
Telecommuting
How much it saves: From saving money on office space to lowering IT costs due to decreased equipment use, Telecommuting can save as much as $6,500 per employee each year according to a recent study.
Why employees love it: Without a commute, overly-chatty coworkers, and distracting office politics, employees can spend work hours on actual work. In fact, employees report that they love telecommuting so much they would rather give up their favorite TV show (54 percent) and an extra hour of sleep (48 percent) than give up telecommuting.
Direct deposit
How much it saves: The cost of cutting paper checks week after week really adds up, with a switch to direct deposit saving companies an average of $176.55 per employee per year. In fact, a recent report found that that those employers who switched to direct deposit saved more than $600 million annually for the past ten years.
Why employees love it: Although direct deposit has been around since 1974, 27 percent of employees still receive paper paychecks primarily because their company doesnt offer direct deposit as an option. Your paycheck is yours and should be yours to spend as soon as you receive it, not whenever you get around to depositing it.
Telehealth
How much it saves: When you can replace many of your employees trips to the ER and urgent care with a virtual consult, you can imagine it would save quite a bit. Based on our book of business, our employer clients typically save an average of $125 per doctors visit. Consider how many times your employees and their beneficiaries head to doctor and you can understand the immediate ROI inherent in telehealth. That of course doesnt account for the time it saves employees, and thus the company they work for, who would have otherwise had to leave work without the service.
Why employees love it: Although call-back models typically see a lower satisfaction score,around 93% of people would recommend our service to a family and friends. Patients say they love how much time and effort it saves them and are pretty evangelical about theservice once they try it for the first time.
So those are our best bets, got any others? If you want to know more about how to implement telehealth specifically, download our e-book below for best practices.
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