Maximizing Employee Well-Being: 9 Innovative Voluntary Benefits Strategies

Insights from industry leaders

 

To gain insights into successful voluntary benefits programs, we asked nine experts, including Chief People Officers and Chief Financial Officers, to share their experiences. From implementing full insurance coverage for essential services to how the YourCampus platform facilitates personalized benefits, these leaders provide a wealth of knowledge on how to significantly improve employee well-being and engagement within your organization.
 

 

 

Full Insurance Coverage for Essential Services

Voluntary benefits can be effective in certain situations, but we believe that for some things, coverage shouldn't cost employees anything. That's why we cover 100% of insurance premium costs for dental, vision, and medical plans, so our team doesn't have to pay or opt-in for any services we consider essential.

Full coverage costs more than voluntary benefits, but leaders need to look at the long-term payoffs rather than the short-term payouts. If covering benefits means a happier, healthier workforce with a real reason to grow with you rather than outgrow you.
 

Robert Kaskel, Chief People Officer, Checkr

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Comprehensive Health Benefits Boost Morale

At Compt, we shoulder most medical and dental premiums because we believe quality health care should be accessible, not burdensome. We fully cover premiums for vision and long-term disability, and this year, we introduced an HRA to further enhance flexibility and control over health expenses (Compt covers the first $750).

To promote holistic well-being, employees not on Compt's health insurance receive a $1,000 stipend, allowing them to invest in their health and wellness needs.

The comprehensive nature of our health benefits has positively affected morale. The peace of mind, knowing that their company has their back, has been invaluable. Prospective employees see the tangible value in our health package, and current employees have expressed appreciation.

The health of our team is a priority. By continually revisiting and refining our benefits program, we aim to offer a package that truly supports and nurtures our team's well-being, reinforcing the commitment to our team.
 

Amy Spurling, CEO and Founder, Compt

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Fertility Benefits Foster Inclusion and Retention

Implementing Carrot’s fertility benefits in our organization was a game-changer for employee well-being and engagement. Recognizing that family planning can be a sensitive and challenging journey, we wanted to provide robust support.

Carrot offered a comprehensive and inclusive solution, accommodating various paths to parenthood. The impact was immediate and profound. Employees felt seen, supported, and valued, leading to increased retention and a stronger sense of belonging.

This program not only addressed a critical need but also solidified our commitment to our team’s holistic well-being, making it a pivotal moment in our journey to foster a compassionate and inclusive workplace.
 

Brett Ungashick, CEO and CHRO, OutSail

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Pet Insurance Supports Remote Employee Well-Being

For one of our employees, pet insurance became a lifesaver at one point. At first, seeing it among the potential benefits was amusing and even more curious than contributing to workplace well-being.

However, after considering it, a pet's well-being for a fully remote employee means the same as a positive and healthy atmosphere at the workplace for office people.

After some stressful events in her life, her cat seemed to have all the potential health problems that could have affected her in the first place. However, a genuine friend took the fire all by himself. It's no wonder all the worries about a pet friend's health distracted her from daily work tasks and shook her balance.
 

Tania Doshko, Content Manager, WikiJob

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Counseling Program Reduces Workplace Stress

A few years ago, we introduced a program through which employees can have access to counseling through a third party. This had an immediate positive impact on our teams. Any work environment has its stresses, dynamics to navigate, deadlines, pressures, and the need to balance this with personal and social responsibilities.

We understand that sometimes it can be too much. Having access to a professional to talk to, in full confidentiality, has really helped individuals tackle their stress levels before they build up, as well as better define their needs and communicate them back to us.

This is invaluable for us because not only do we have a happy, healthy workforce, but it also gives us the tools to create an environment in which people can thrive.
 

Will Baker, Director, Skirtings R Us

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Flexible Work Hours and Wellness Initiatives

At our organization, we implemented a voluntary benefits program that included flexible work hours, mental health support, and wellness initiatives, and it had a remarkable impact on employee well-being and engagement. The flexibility in work hours allowed our team members to better balance their personal and professional lives, reducing stress and increasing job satisfaction.

The mental health support, which encompassed counseling services and stress-management workshops, provided a crucial safety net for employees during challenging times. Our wellness initiatives, such as gym memberships and nutrition counseling, helped employees improve their overall health.

This comprehensive approach boosted morale and camaraderie within the team and led to decreased absenteeism and increased productivity, underlining the significant positive impact of a well-rounded voluntary benefits program on both employee well-being and overall organizational success.
 

Dr. Nabil Salib, General Practitioner and CEO, MyDoc Urgent Care

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On-Site Gym and Health Clinic Usage

The best example I can give is from a company that I once worked at, where the CEO instituted an on-site gym and health clinic. This was a voluntary benefit program, meaning that employees could opt in if they wanted to use it.

The gym was fully stocked with state-of-the-art fitness equipment and staffed by personal trainers. Employees could also get subsidized health care through the clinic, which provided routine checkups, lab work, and even chiropractic care.

We saw a lot of employees take advantage of this program—surprisingly so! I think we expected it to be mostly older workers or workers who had recently become parents, but it wasn't. In fact, we saw more young people than expected taking advantage of their benefits here because they wanted to stay healthy while they were young and able to do so before they had kids or other obligations that might make it harder for them later on down the line.
 

Zoltan Fagyal, CEO, Not Just Laptops

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Childcare Support Enhances Work-Life Balance

Through my role at our company, we implemented a personalized childcare support program, and the impact on our team's well-being and engagement was truly transformative. This initiative included financial help for childcare, flexible work arrangements, and access to a carefully vetted network of childcare providers.

The outcomes were astounding, as our team experienced reduced stress, improved work-life balance, and a noticeable boost in their engagement levels. Our employees were more productive and focused, knowing their children were well taken care of.

This program not only strengthened our employees' loyalty but also emphasized the importance of adapting to our growing workforce's needs, solidifying our commitment to their well-being.
 

Mark Fong, General Manager, CEO, Gonengo

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YourCampus Platform Facilitates Personalized Benefits

At Technews, we implemented a voluntary benefits program using YourCampus, and the impact on employee well-being and engagement has been remarkable. Our employees now have the flexibility to tailor their benefits to their unique needs, whether it's prioritizing health and wellness, childcare, or professional development.

This personalized approach has increased job satisfaction and fostered a stronger sense of engagement. The transparency of the YourCampus platform empowers employees to make informed decisions about their benefits, contributing to a more positive workplace culture.

Our voluntary benefits program has significantly improved employee well-being and engagement, aligning perfectly with our commitment to supporting our team members' holistic needs.
 

Neil Hodgson-Coyle, COO, TechNews180

Brett Farmiloe is the Founder/CEO - and currently the CHRO - of Featured. Brett is a former SHRM Influencer and has also been a keynote speaker at several state SHRM conferences around the topic of employee engagement.