Special Guest: Julie Botset has over two decades of leadership in designing benefits as a Senior Leader in the field of Human Resources
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Webinar Summary: Designing Employee Benefits for a Flourishing Culture
In today’s evolving workplace, crafting a benefits package that is not only comprehensive but purpose-driven is key to building a flourishing culture. For faith-based organizations, this means designing benefits that resonate deeply with both the mission and values of the organization, fostering a holistic approach to employee well-being—physically, mentally, financially, and spiritually.
Purpose-Driven Benefits
Mission Alignment: Employee benefits should be more than a checkbox—they should align with the organization’s faith-based mission. By demonstrating care for employees holistically, the organization reinforces its values and strengthens loyalty. Faith-centered initiatives like Christian counseling, wellness programs, and flexible schedules can help integrate the organization’s values into tangible support.
Flourishing Culture: Benefits should serve as a foundation not just for attracting talent but for creating an environment where employees and their families can truly thrive. A culture that promotes flourishing is attractive, retaining employees who feel valued and supported both at work and beyond.
Traditional vs. Differentiating Benefits
Traditional Benefits: Standard offerings such as medical, dental, vision, retirement plans (401k/403b), life insurance, disability, and paid time off (PTO) are foundational expectations. These benefits are necessary to provide security and to attract talent by meeting common needs.
Differentiating Benefits: Organizations can stand out by supplementing traditional benefits with unique options that resonate with employees on a personal level:
Health Savings Accounts (HSAs): These accounts provide long-term healthcare savings, especially valuable for employees looking for tax-advantaged ways to save for future healthcare costs.
Flexible Work Schedules: Flexibility shows a commitment to work-life balance, allowing employees to work in a way that suits their individual needs.
Enhanced Mental Health Benefits: Partnerships with faith-based counseling services can address the unique needs of employees, offering mental health support that aligns with the organization’s mission.
Wellness Programs: Encouraging physical wellness through gym memberships or fitness incentives promotes a culture of health.
Dependent and Elder Care: Benefits that support employees’ family responsibilities, such as dependent care and elder care, help to relieve stress for employees caring for loved ones.
Customization: One size doesn’t fit all. Offering tiered benefits packages allows employees to choose benefits that suit their life stages, family situations, and employment status. This flexibility can increase satisfaction and make benefits feel more personal and valuable.
Practical Steps for Implementing Benefits
Survey Employees: Tailor benefits by understanding what matters most to your team. Consider generational and situational needs—while younger employees may prioritize dependent care, older employees may benefit from elder care assistance.
Creative Benefits: Think outside the box with low-cost, high-value additions, like telehealth memberships or extended counseling sessions, that can make a big difference in employees’ lives.
Compliance & Regulation: Work with brokers who understand the unique requirements for faith-based organizations, such as the Affordable Care Act (ACA) and ERISA, to ensure your benefits are compliant and legally sound.
Sustainability: Benefits should be financially sustainable to avoid the need for cutbacks. When planning, prioritize long-term affordability to ensure benefits remain viable as the organization grows.
Key Stats & Insights
Top Benefits Desired: According to surveys, employees highly value healthcare (88%), flexible work arrangements (70%), family care (67%), and professional development (65%).
Compensation Spending: To stay competitive, organizations should consider spending between 28% and 40% of total compensation on benefits. Investing in benefits strengthens employee commitment, showing that their well-being is a top priority.
Takeaway
By aligning benefits with mission and values, incorporating creative differentiators, and ensuring sustainability, organizations can cultivate a flourishing culture that deeply supports employees. Purpose-driven benefits foster a workplace where employees are not only retained but truly invested, allowing both the organization and its people to thrive in alignment with their shared values.