As we step into a new year, HR leaders and benefit brokers have an opportunity to reassess their strategies and ensure their benefit offerings are not just meeting compliance standards but truly enhancing employees' financial well-being. Aligning your benefit plans with your employees’ personal financial goals and objectives for 2025 can make a profound impact on their lives and your organization’s success.

HR leaders and brokers can use these specific tasks to take actionable steps in January to align benefit offerings with employees' financial goals:

1. Survey Employees About Their Financial Goals: A tailored approach starts with understanding what matters most to your workforce. Are they focused on paying down debt, saving for a home, or planning for retirement?

• Action: Conduct an anonymous survey or host focus groups to identify the top financial priorities and challenges your employees face. Use these insights to fine-tune your benefit offerings and communication strategies.

2. Offer Financial Wellness Workshops: Financial literacy can empower employees to make smarter decisions about their benefits.

• Action: Schedule January workshops focusing on goal-setting and maximizing current benefits. Topics could include:some text
  • Optimizing health savings accounts (HSAs)
  • Understanding 401(k) match opportunities
  • Budgeting for large expenses using flexible spending accounts (FSAs)

3. Simplify Benefit Education Materials:  Employees often don’t take full advantage of benefits because they’re overwhelmed by complex information.

• Action: Revamp your benefit guides to focus on how each offering supports common financial goals. Use relatable examples, such as "How the HSA can help you save $2,000 on healthcare costs this year."

4. Create a Benefits Alignment Checklist:  Employees need practical tools to connect their benefits with their financial goals.

• Action: Provide a downloadable checklist to help employees:some text
  • Set their 2025 financial goals
  • Select benefits that align with these goals
  • Identify areas to revisit during open enrollment

5. Encourage Early Utilization of Benefits: Many employees delay using their benefits, missing out on valuable savings and support.

• Action: Send out reminders in January highlighting:some text
  • Preventive care appointments covered under health insurance
  • Starting contributions to FSAs and HSAs
  • Accessing employee assistance programs (EAPs) for financial counseling

6. Collaborate with Managers: Managers can reinforce the importance of benefits and encourage their teams to engage with them.

• Action: Equip managers with key talking points and resources to share during team meetings in January. For example, how the company’s retirement matching program supports long-term financial security.

7. Review 2024 Data to Identify Gaps: Data-driven insights can highlight areas where employees may not be optimizing benefits.

• Action: Analyze utilization trends from the previous year. Did employees underutilize certain benefits? Were there frequent questions or confusion about specific programs? Use this information to refine your offerings and communication plans.

8. Promote Year-Round Support Tools: Benefits are most effective when employees know they can access support at any time, not just during open enrollment.

• Action: Highlight decision-support tools like SelectSmart by SAVVI Financial, which helps employees continuously align their benefit choices with their evolving financial goals. Ensure employees know how and when to access these tools.

9. Start the Conversation Early: A proactive approach sets the tone for the year ahead.

• Action: Launch an internal campaign in January themed around "New Year, New Financial You," encouraging employees to take small steps now for big gains later.

When benefits truly support financial wellness, everyone wins. By prioritizing alignment between benefit offerings and employees’ personal financial goals, HR leaders and brokers can enhance employee satisfaction, retention, and productivity. These actionable steps provide a roadmap to kickstart 2025 with a focus on what matters most to your workforce. 

At SAVVI Financial, we provide the technology and insights to help you make these critical decisions with confidence. Contact us to learn more about how we can support your strategic planning efforts. Click here to schedule a 15 minute chat. Or simply call 781-583-7017 or email at sales@savvifi.com.