Lisa Ledoux, Senior Director of Global Benefits at Asurion, started her career at a consulting startup that focused on working with employee benefits. She found success by always asking questions about benefits and staying committed detail-oriented tasks such as reading the plans document.
Through her work, Ledoux discovered a passion for employee benefits and gained critical skills that prepared her for her impressive career in benefits.
Ledoux’s fondness for benefits stems from the positive impact which they deliver. At Asurion, Ledoux works to ensure that the benefits chosen are the best value for employees and within the company’s price range. Then, she communicates these benefits to employees– a task that can not be ignored.
Ledoux emphasizes the importance of explaining benefits to employees in a clear and concise manner. “You can set up the greatest benefits plans in the world, and if no one understands them, you have failed.” Instead a balance must be found where employees are not overwhelmed with benefits information, but also not left in the dark. Ledoux has located this sweet spot: “communicate [benefits] in a clear way, so that people can relate to it in their everyday lives.”
There are three ways to achieve effective benefits communication that Ledoux discusses. First, ask employees for feedback after giving them a breakdown of their benefits. Does the information resonate with them? Is it too complicated? Be open to feedback and workshop benefits explanations until they are clear for employees.
Next, utilize targeted messaging: “If you are in a high deductible plan, you should get messaging about health savings accounts” Employees that aren’t in a high deductible health plan will find messaging on health savings accounts unhelpful or worse, confusing.
Finally, and maybe most importantly, make sure employees sign up for their benefits.
There have been many changes in the world and in the workplace over the past several years. The employee benefits industry is no different: Ledoux explains how there have been many recent developments in benefits from the Affordable Care Act to the growth of telehealth during COVID.
2022 has brought on a larger emphasis on the cost of insurance as prices have risen. Ledoux reaffirms the importance of communication with employees especially during this period. “I think it is important to acknowledge [increase in costs] with employees and understand that it is a cost-sharing arrangement.”
In addition, 2022 has shown a change in what employers find valuable. Asurion conducted a survey asking employees what benefits they value the most. Surprisingly, life insurance, typically a benefit that can go unnoticed, placed third on the list. Ledoux points to the pandemic as the main explanation for this phenomenon. “We all know someone who was affected by the pandemic, and so that appreciation was really there front and center for our employees.”
For 2023 and beyond, Ledoux highlights there will continue to be change in the benefits space especially during this current period of inflation. “Now, we are in a period of inflation. Let’s pull out those old muscles on saving costs, talking about the importance of flexible spending accounts and paying for things on a pre-tax basis.” Employees should discuss the importance of benefits with their employers and employers should listen! “[Benefits are] incredibly expensive, but if we are going to attract and retain the best quality employees that we can, this is something that we know they want.”
Asurion has been managing the rising costs of healthcare with their exchange program which provides their employees with a lot of choice for their medical plans. Ledoux explains that the ability to choose plans provides employees with comfort during this time. Asurion also provides employees with pre-tax tools and encourages employees to invest in their health savings accounts. Ledoux emphasizes the importance of “taking a long view on [health savings] and helping people think through it.”
Ledoux measures the success of Asurion’s benefits program with employee feedback. At the end of annual enrollment, Asurion asks their employees if they are satisfied with the design of their benefits. Ledoux discusses one instance where an employee talked about how they were struggling to find information about benefits, so Asurion worked to create a successful one stop shopping page for employees.
Asurion has done an amazing job providing their employees with benefits. Employees have national and regional choices for their medical, dental, and vision benefits and are able to design their benefits so that they are best for their family. For example, they do not need to purchase the most expensive medical plan in order to get the most valuable dental plan. “People do really love the benefits. We were mentioned recently in a survey as having the top 20 benefits in the United States… It was voted on by our employees and so I know that they appreciate those benefits and I know that they are finding them valuable. That to me is everything.”
