It’s no secret that salary alone is enough to attract and retain top talent. Employees expect more—more flexibility, more meaningful support, and more personalization in how they’re rewarded in their benefits package. In fact, an NFP 2024 survey, cited by Fortune, found that 59% of employees are willing to give up some salary for better healthcare benefits, which is a near-match that underscores the same trend of prioritizing benefits over equivalent pay bumps.
The organizations gaining an edge aren’t just increasing compensation; they’re reimagining the entire employee experience. They recognize that a one-size-fits-all benefits package no longer works in a workforce that spans different life stages, priorities, and expectations.
So, how do you build a benefits offering that your employees genuinely value?
It starts with a mindset shift: moving beyond perks for the sake of optics and toward benefits that create real, everyday impact. The most effective programs are designed with empathy and flexibility at their core, acknowledging that what matters to one employee may be irrelevant to another. A strong benefits strategy isn’t about ticking boxes, it’s about supporting people in ways that meaningfully improve their lives, both inside and outside of work.
Crafting Benefit Packages Employees Crave
One of the biggest mistakes companies make is assuming what their employees need. In reality, preferences vary widely depending on age, lifestyle, career stage, and personal circumstances.
Instead of guessing, ask.
Use surveys, anonymous feedback tools, and one-on-one conversations to understand what matters the most to each person. You might find that while leadership is focused on gym memberships, many employees are more interested in flexible working hours or mental health support.
Effective Listening Methods
- Surveys: Ask ranked-choice questions like “Would you prefer more PTO, better health coverage, or flexible hours?” Include open-ended prompts: “What’s one benefit you’d value most right now?”
- Focus Groups: Segment by demographics (e.g., parents vs. early-career) to uncover personalized priorities.
- Data Analysis: Review usage stats from current benefits (e.g., which wellness apps gain traction?) and exit interviews to identify patterns.
- Benchmarking: Cross-reference with industry norms, but prioritize your workforce’s feedback.
It’s also important to make feedback an ongoing process, not a one-time exercise. Employees need to change over time, and regular check-ins help you stay aligned with what truly matters.
The key is simple: Build your benefits with your employees, not just for them.
This data-driven start ensures your package resonates, boosting retention by addressing actual pain points over generic perks. From there, cluster responses into core themes (e.g., flexibility, financial wellness) to design targeted offerings.
Prioritize Flexibility Over One-size-fits-all in Benefit Packages
A general benefits package rarely satisfies a diverse workspace. A newly graduated has very different priorities from a working parent or someone approaching retirement.
Flexible benefits allow employees to choose what suits them best. This could include options like:
- Childcare support
- Additional annual leave
- Health and wellness allowances
- Flexible working hours
- Learning and development budgets
Some organisations also offer “benefit allowances” that employees can spend on what matters most to them. This approach not only increases satisfaction but also ensures your budget is being used in a meaningful way.
Flexibility empowers employees and increases the perceived value of your offering without necessarily increasing costs. It shows trust, respect, and an understanding that your workforce is not one-size-fits-all.
Don’t Overlook Mental Health and Well-being Benefit Packages
Employees want to feel supported, not just physically but mentally and emotionally as well.
Strong wellness benefits may include:
- Access to counseling or therapy services
- Mental health days
- Stress management resources
- Wellness program stipends
Creating a culture where wellbeing is openly supported is just as important as the benefits themselves. Encouraging employees to take breaks, use their leave, and speak openly about challenges can make a significant difference.
When employees feel cared for, they are more engaged, productive, and loyal.
Make Benefit Packages Easy to Understand and Use
Even the best benefits package can fall flat if the employees don’t understand it. Clear communication is critical. Avoid jargon and explain benefits in simple, practical terms.
Think like an employee:
- What is it?
- How does it help me?
- How do I use it?
Think about how you introduce benefits to new employees and how you remind the existing employees throughout the year. Open enrollment periods, internal campaigns, and regular reminders can all help increase awareness.
Effective Communication Methods
- Regular Reminders: Send pulse updates during open enrollment or life events (e.g., “Back-to-school childcare support now live”) to drive utilization.
- Short Videos: Create 1-2 minute explainer clips on key benefits (e.g., “How to Use Your Wellness Stipend”) and share via intranet or Slack for quick, engaging digestion.
- FAQs: Build a living document with common questions like “Am I eligible for parental leave?” and update it quarterly based on employee queries.
- Onboarding Sessions: Integrate a dedicated 30-minute module in new hire orientation, with interactive Q&A to demystify options from day one.
A benefit unused is a benefit wasted. The easier it is to understand, the more value it delivers.
Focus on Financial Well-being in Benefit Packages
Financial stress is one of the biggest distractions employees face. Supporting financial well-being can have a direct impact on performance and retention.
When employees feel financially secure, they are better able to focus on their work rather than worrying about their personal lives.
Key Financial Wellness Options
- Retirement Planning Support: Provide free consultations with advisors or matching contributions to help employees build long-term wealth confidently.
- Financial Education Workshops: Host quarterly sessions on budgeting, investing, or debt management, tailored to life stages like early career or pre-retirement.
- Salary Sacrifice Schemes: Enable tax-efficient contributions to pensions, childcare, or EVs, putting more money back in employees’ pockets immediately.
- Emergency Savings Programs: Offer matched micro-savings or low-interest loans for unexpected costs, preventing reliance on high-interest debt.
You might also explore benefits like bonuses, cost-of-living supports, or access to financial advice services. Even small initiatives can make a meaningful difference.
These benefits show employees that you’re invested in their long-term stability– not just their output at work.
Keep Evolving Your Offer in Benefit Packages
Employees don’t stay the same, and neither should your benefits package. Regularly review and update your offering based on feedback, usage data, and broader workplace trends. Pay attention to which benefits are being used and which ones are being overlooked.
What worked two years ago may not be relevant today. For example, the rise of remote and hybrid work has changed what employees value, with greater emphasis on flexibility and work-life balance.
Treat your benefits strategy as a living system, not a one-time project. Continuous improvement ensures your offering stays relevant and competitive.
The Bottom Line in Crafting Benefit Packages
Building a benefits package your employees actually want isn’t about offering more—it’s about offering better. It starts with listening to your people through surveys and focus groups, staying flexible to meet diverse needs, communicating clearly via videos and FAQs, and continuously adapting based on feedback and usage data.
When you get this right, benefits transform from a cost center into a powerful driver of engagement, retention, and long-term success—keeping your top talent motivated and loyal in a competitive market.
To learn how Eppione can help you communicate and build a benefits package employees truly value, contact us.
