How to Build an Inclusive Benefits Package: A Guide for Benefits Brokers

Inclusivity has shifted from a buzzword to an essential part of fostering employee satisfaction and boosting retention as today’s workforce becomes increasingly diverse. In the workplace, inclusion means that employees across varying identities have the same access to company resources and opportunities, and feel valued, respected and supported for the viewpoints, ideas, perspectives, and experiences they bring.

One way HR professionals and business leaders are creating an inclusive environment is by offering an inclusive employee benefits package. Benefits packages have traditionally catered to a specific life path of marriage, children, and retirement. However it is becoming more common for employees to choose different paths, creating the demand for benefits to support a wider range of needs.

A Point32Health study found that 86% of employers view offering inclusive benefits as “very” important but creating a more inclusive benefits package can be a challenge for organizations to navigate. In this article, we’ll look at how benefits brokers can help their clients evaluate and revamp their benefits packages to satisfy the diverse needs of their employees.

What are Inclusive Employee Benefits?

Inclusive employee benefits are designed to cater to the diverse needs of a workforce, ensuring that all employees feel valued and supported regardless of race, gender, religion, sexual orientation, location, or other factors. They are often flexible and customizable to account for employees with different needs - and can go beyond traditional offerings.

Inclusive Benefits to Consider

Inclusive benefits may look different to each organization. There are many benefits that can support a wider range of employee needs but it's important for clients to understand and get input from employees about what is important to them before choosing which ones to include. 

Here are some common inclusive benefits to consider.

Broad Medical Coverage

Having broad medical coverage can ensure that a wide range of employee healthcare needs are met, regardless of individual circumstances. By offering coverage that includes comprehensive health services, such as mental health support, treatments for chronic conditions, gender-affirming care and bilingual providers, employers can accommodate the diverse needs of their workforce, including those with specific medical needs and LGBTQ+ families.

Domestic Partner Benefits

Not everyone gets married. By expanding benefits and coverage to include domestic partners,  employers can support those with diverse family structures. Domestic partner benefits can include a variety of benefits, such as health insurance, life insurance, parental rights, family leave, and bereavement policies.

Paid Parental Leave

Traditionally, companies have provided parental leave for new mothers. However, this often excludes new fathers, many LGBTQ+ families, and adoptive parents. Creating a parental leave policy that is gender-neutral and includes childbirth and adoption allows all new families the opportunity to bond and alleviate the stress of new parenting despite what their family structure looks like.

Family Building Benefits/Adoption Benefits

Family-building benefits are a range of services and support that help employees start and grow their families. These benefits can include financial, logistical, and emotional support, and can cover a broad spectrum of needs, from fertility treatments to surrogacy to adoption and other avenues people take to create families. 

These benefits can support a wide range of employees throughout their entire family-building journey, from conception to postpartum and beyond, regardless of their individual circumstances.

Caregiver Benefits

Many employees have caregiver duties that extend beyond caring for children, including caring for aging parents and other loved ones. Juggling work with these responsibilities can cause stress in people’s lives. Some benefits, such as flexible spending accounts, reimbursements for paid caregiving, and remote work opportunities, can give employees peace of mind when fulfilling their duties at work and home.

Pet Insurance

For many, pets are an integral part of their lives and are seen as part of the family. Often, people have pets in lieu of children. So why shouldn’t insurance coverage extend to them? Pet insurance can help alleviate financial stress for employees who are pet owners.

How to Help Clients Update Their Benefits Package

For HR professionals and business leaders, knowing where to start to make their employee benefits package more inclusive can be overwhelming. Follow these steps with your clients to make the process easier and more effective.

1. Evaluate Current Package

The best place to start is by assessing your clients’ current benefits packages from an inclusion perspective. Do the benefits serve a wide range of needs? Do they allow for easy access? Are there any benefits missing? Are there needs that aren’t being met? The key is to approach this through an equitable lens. Acknowledge the inequities, biases, and unequal levels of access to care that some employees may experience depending on location and socioeconomic background, and keep these in mind while evaluating. 

2. Get Employee Feedback

Employers should check in with their employees to see what they want and need from their benefits package and let them offer suggestions. Provide a survey template to your clients that asks employees what current benefits fit their needs and what needs may not be being met currently.

3. Review the Budget

Balancing employee needs with how much employers can spend is key when creating a budget-friendly benefits plan. Is there room to invest in new or additional benefits? Are there places clients can save money within their current benefits to help offset additional costs? Some changes may not require more budget, but it's important to evaluate what is possible.

4. Customize Benefits

Based on your findings above, you can help your clients tailor benefits to meet the needs of their diverse workforce. Explore a wide range of benefits with them and introduce new benefits they may not have considered.

5. Utilize Benefits Administration Software

Instead of juggling multiple systems or cumbersome paperwork, leverage benefit administration software to manage your clients' benefits programs efficiently so you can focus on helping them build the most inclusive benefits package and deliver high-quality service.

Final Thoughts

Embracing inclusivity is a must in today’s dynamic and diverse work environment, and inclusive employee benefits packages are a key piece that is overlooked. Building packages that meets the needs of your clients’ employees and genuinely make a difference in their lives will help them foster an inclusive culture. 

Inclusivity not only benefits employees by making them feel valued and appreciated; it also benefits the company. Comfortable and happy employees create a positive work culture that can lead to increased retention rates, improve morale and attract top talent. 

How GoCo Can Help You Support HR Professionals

GoCo has truly revolutionized the landscape of benefits administration for benefits brokers, providing them with an array of exceptional features that go above and beyond in streamlining their processes and elevating client satisfaction.  With its centralized platform, improved collaboration capabilities, and robust compliance assistance, GoCo empowers brokers to manage their clients' employee benefits more easily and efficiently.

By leveraging the power of GoCo’s features, brokers can deliver exceptional service, save time and resources, and build strong, long-lasting relationships with their clients. Partner with GoCo today!