ADP and Nayya Team Up for a Much-Watch Broadcast

Our Co-founder and CEO, Sina Chehrazi, recently teamed up with Sarah Oliver of Guardian Life, and Maggie Novo-Chavarry & Mitch Geiger of ADP to discuss how employers need to rethink their approach to benefits– focusing on employee experience and compliance.

We definitely recommend watching this broadcast (the recording is linked below!), but if you’re short on time, read on for highlights and key quotes from the session.

Understanding the Importance of Benefits in Today’s Labor Market

“The “Year of the Worker” remains strong. And employers have had to focus on better understanding the needs of their dynamic workforce so that they can continue to attract and retain talent… The status quo is not acceptable anymore. There needs to be greater focus on the benefits offered to keep the best talent but also stand out in that job market” – Maggie Novo-Chavarry

In the aftermath of the Great Resignation, benefits are more important than ever before. Your organization’s benefits packages could mean the difference between attracting top talent or losing them to another company. It also gives potential employees a window into what your company’s culture is like. Do you value the physical, mental, and financial wellness of your employee? And do your benefits options reflect this?

The pandemic and recent economic uncertainty have completely reshaped the employment landscape, and workers now desire robust support, safety, and well-being resources from their employers.

The Role Benefits Play In Employee Value Proposition (EVP)

“We looked at the Great Resignation & the Great Reshuffle, and what we’ve seen is that employees want to A) work for an employer who aligns with their values and brings to them what they want from their life and B) who values them. And we all know just how important benefits are in that value proposition… 90% of employees rank benefits as the second most important thing they look at when assessing a new opportunity.” – Sina Chehrazi

According to recent research, the only thing employees value more than benefits when evaluating a job is their salary. If employers want to attract and retain great talent, bolstering your benefits offering and experience can go a long way.

The Key is a Holistic Benefits Approach

“It’s paramount now to really be able to show the value that you’re providing to your employees and really show them that you care by providing benefits that matter to them– that are much more holistic than they ever were before and really easy to understand… We have to rethink how we’re offering products and how we’re offering solutions to families.” – Sarah Oliver

A holistic approach to benefits means going beyond traditional packages that only include health, vision, and dental. It’s giving workers the flexibility to work from home or in a hybrid environment, creating broader benefits packages with a focus on choice, giving access to mental health resources, offering family-friendly benefits, and more. Voluntary benefits like hospital indemnity, critical illness, accident insurance, and others are more important than ever in today’s economic and global health climate.

These key findings are only a fraction of the info packed into this webinar. For HR leaders, this session is a must-watch, especially considering recent changes such as the overturning of Roe v. Wade and how it may affect benefits for your company.

Watch the FULL webinar here.