Iowa employers face a harsh reality when looking at today’s job market: hiring and retaining a workforce is hard. According to Iowa Workforce Development, Iowa’s unemployment rate in January 2024 was 3.2%. While this is fantastic news for our state, the current trend makes hiring workers in a competitive labor market more challenging for employers.
At Delta Dental of Iowa, we’ve found that offering benefits focused on wellness can be a win-win for employers and their employees. Comprehensive plan options, including dental and vision care, empower employees to take ownership of their health while boosting staff retention.
The Multi-Dimensional Impacts of Benefits
Whether you are a small or large business, employee benefits are no longer viewed as “perks” but instead as investments in the health and well-being of the workforce. Simply put, employees want employers to care about their wellness. According to Forbes Advisor, 40% of employers believe their employees will leave their company for better benefit offerings.
At Delta Dental of Iowa, we’ve found that investing in a broad range of benefits that support the wholistic health of our employees is the right thing for us.
Strategies to Help Employees Recognize the Value
Expanding employee wellness benefit offerings is only half of the retention puzzle — employees need to see the value of these benefits as well. A study showed that 32% of employees were confused when reviewing their benefits.
Here are some ways we’ve worked to share the value of benefits with our employees:
- Communications – we discuss our employee benefits ongoing throughout the year, not just at open enrollment. Benefits are shared through meetings, weekly newsletters, emails, and our intranet. We also provide an annual benefits statement to our team members to show the financial value of their benefits.
- Diversification – we offer a wide range of benefits that match the diverse needs of our workforce. Our benefits revolve around our five components of well-being including physical, financial, career, emotional and community.
- Ongoing Adaptation – at Delta Dental of Iowa, we solicit employee feedback and make thoughtful changes to our benefits program. We want to be viewed as a modern employer in touch with today’s employee needs.
- Connecting With Our Values – our employee benefits are presented as part of the Delta Dental of Iowa employee experience. We include them when discussing our company values, which empower our employees to improve lives, embrace change, take the lead, and build long-lasting relationships with others. When all of this intersects, we can provide exceptional service for our customers.
Planning For the Future of Employee Benefits
As you plan future employee benefits, consider what could be added to support employee wellness. Ensure employees use their employee benefits, such as preventive care appointments, so they will understand the value they receive at your company.
At Delta Dental, we believe that healthy and happy employees are our strength, leading to greater workforce retention in today’s competitive job market.
