BlogsHuman Resources Directors: Are you a Frugal Fran or a Happy Henry?
March 9, 2016, by Matt Hanson
In our recent infographic, we introduced two characters from the various human resources departments we encounter in the companies we serve: Frugal Fran and Happy Henry. Is every single HR person just like these avatars? No, of course not. But, as you read on, you’ll probably discover and relate to their objectives for a healthy work environment and goals for keeping costs down. If you find yourself in the middle of our Fran and Henry, then you’re on the right track to actually see a healthy work environment come to fruition.
Positive Culture vs. Cost-Effective Benefits Packages
Many companies feel they have to choose between benefits packages that meet their bottom-line goals and packages that instill positive corporate cultures where employees feel valued.
Do you have to pick or can you have both?
If you asked Fran, she’d probably say the culture is secondary to a profitable company. Should push come to shove, she would vote to do away with extravagant benefits and do the bare minimum when it comes to the company’s expenditures. Specifically, Fran’s strategy is driven by lowering the premiums, striving for fewer claims, and trying to reduce the chronic diseases of the workforce. In fact, if employees quit smoking, there may be cash incentives in place in order to reduce lung cancer treatments the company may have to pay for down the road.
All noble and necessary goals, but at what cost are these strategies implemented? When employee turnover increases, it has the ability to negatively impact the bottom line in significant ways as well.
Happy to a Fault—Hopefully not Default
On the other hand, Henry is driven by a corporate culture that is transparent about helping its employees reach wellness through targeted programs that engage, teach and monitor their goals. And, yes, they also provide incentives that encourage the employees to develop new habits of healthy living.
The question for Henry is “How are you measuring this program to ensure it’s paying for itself?” While he may have the best intentions for the company to create a positive culture, the benefits package may be underused by the majority of the staff without proper explanation, buy-in and accountability.
How Fran & Henry Found A Solution – Click Here
Centennial is more than a benefits brokerage. We work with our clients to develop a blueprint for the success of their bottom line and their workforce. If you are interested to see how we work, connect with us today and schedule a consultation.