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(Editor’s Note: Today’s article is brought to you by our friends at Selerix, a leading provider of benefits administration, healthcare compliance and communications solutions. Check out their latest article on the Forbes Business Council site about personalizing benefits for a four-generation workplace. Enjoy!)

Employee benefits are a significant portion of an employee’s total compensation. According to the Bureau of Labor Statistics, the percentage is around 30%. So, we know that it’s important for organizations to get benefits right.

Companies and employees want the same thing: They want the money spent on employee benefits to get maximum results. Meaning employees want the money spent on things they want and need. The organization also wants the monies spent to deliver results in terms of attracting, engaging, and retaining talent. This is true regardless of whether or not the benefit is mandated by law.

A good way to ensure that the company’s benefit spend is accomplishing its goals is to think about benefits throughout the employee lifecycle. Here are five key phases of the employee lifecycle and some things to consider when selecting benefits.

Recruitment. Organizations want to understand what their competitive set is offering in terms of benefits. It could also be helpful to utilize exit interviews to find out what employees who are leaving the organization think of the company’s benefit package. This can help the organization understand 1) what their benefit strategy should be in the labor market (i.e., lead or lag) and 2) what specific benefits they want to offer. For instance, if everyone in the organization’s competitive set offers a Flexible Spending Account (FSA), then the company might want to do the same. 

Development. Once employees are hired, they need training for the jobs they have and development for the jobs of the future. I’d like to believe that organizations are prepared to train employees but what about other activities related to learning? For example, will the organization support employees attending certificate programs and getting certifications? Or covering membership dues to professional associations? Maybe student loan assistance? Organizations do not have to offer every learning experience. They do need to think about the different types of learning experiences that are available and how they can support them to remain competitive. 

Performance. Supporting learning leads to better performance. Both organizations and employees want this. With high performance, organizations have more employee benefit decisions to make.  Some of the decisions might be considered less of a “benefit” and more of an operational necessity, but they do need to be discussed. Like how managers will receive training to coach employees for high performance? And how will human resources departments help employees at every level of the organization achieve their career goals? For instance, Zappos has full-time life coaches to help employees achieve their career goals. Again, companies don’t have to do everything themselves, but they do need to have a plan for supporting an employee’s career goals.

Mobility / Transition. As employees become more skilled, they will want new opportunities. This is a good thing for the organization. But companies need to think about what types of benefits they would like to offer for employees who want to get promoted / transfer / make a lateral move. Employees might be reluctant to take on additional responsibilities if they don’t include certain benefits like flexible scheduling, hybrid work, and/or relocation assistance. On the flip side, the organization might have high performing employees who are ready to do less. They might not be ready to retire but could possibly work part time or as a contractor. Organizations can consider developing a phased retirement strategy along with benefits that align with the employee’s transition. This is where mandatory benefits like COBRA are especially important. 

Retention. Ultimately having a well-thought-out benefits offering allows the organization to retain employees. Because the organization is giving employees what they want. And what employees want is to work for a company that values them. Great examples of benefits that tell employees they’re important include paid time off (PTO) and wellbeing programs (of course, in addition to healthcare). Also, don’t forget financial education programs. Finally, employees want to work for an organization they can be proud of. Benefits that demonstrate supporting values include corporate social responsibility initiatives like supporting employee volunteerism. 

If you want to learn more about developing an employee benefits strategy, including how to keep employees informed about their benefits, join me and the Selerix team for a webinar on Thursday, April 3rd, 2025 at 2p Eastern. The topic is “Bringing Us Together Through Innovative Benefits”. If you already have a commitment that day, no worries. Sign up and get the recording.  

Organizations want to offer benefits that not only attract candidates to their job openings but keep employees with the organization. Thinking about employees’ wants and needs throughout their lifecycle can offer insights about what will retain workers and keep employees engaged and productive.
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11/03/2025 – 12:03 /Sharlyn Lauby
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