In today’s rapidly evolving work environment, it's no longer enough for HR alone to discuss benefits effectively—other leaders across your organisation need to be empowered to do the same. One often-overlooked group that can significantly boost participation and unlock the full value of your benefits program is your business’ B-suite.
Key takeaways
- Employees are increasingly questioning their financial situation, especially with rising costs of living, and expect real-world support from their employers.
- B-suite managers are uniquely positioned to spot signs of disengagement or financial stress among employees and identify where benefits can have an impact.
- Activating the B-suite can maximise your benefits program's ROI, driving higher engagement and deeper impact.
Make the most of B-suite relationships
The phrase ‘B-suite’ was originally coined by BoldHR and describes the cohort of ‘middle managers’ that we know are critical to a thriving organisation. The pandemic accelerated the need for B-suite leaders to foster deeper connections with their teams and today, whether managing teams remotely or in hybrid environments, the B-suite is tasked with not just ensuring productivity but also supporting the overall wellbeing of employees. It means that the B-suite is often in the best position to ensure that employees are not just aware of the benefits available that may assist with financial wellbeing, but are being utilised.
Why having impactful conversations is key:
- Personal finances are now as important as mental health, according to employees .1
- 88% of moderately and severely financially stressed people say their finances affect work productivity which means $89billion in lost revenue annually.2
- Nearly half (46 per cent) of Australian employees said cost-of-living pressures had negatively impacted their job satisfaction, proving financial wellbeing has had a direct impact on employee sentiment towards work.3
Building effective conversation skills
The B-suite is ideally placed to make sure benefits are communicated clearly, and in a way that demonstrates care. That’s because managers can connect with employees on a personal level and offer tailored solutions: not only do they build relationships via daily contact, they can easily match benefits to needs by initiating conversations at precisely the right times in their team members’ ‘life cycle’.
Yet despite their critical role in an organisation, recent research shows 82% of middle managers feel invisible or frustrated.4 Supporting the B-suite to develop effective conversation skills can help them amplify their influence across various stakeholders in your organisation and improve team culture - research shows that managers have more influence on employee mental health (69%) than doctors (51%) or therapists (41%), and the same level of impact as their spouses and partners.5
Making sure managers understand what benefits are on offer, and encouraging them to spread the word among their team has a vital role to play in the communications mix. Learn more about fostering effective benefits conversations – download the Talking Benefits guide here, to help managers at every step.
1. Gallagher Workplace Trends 2024
2. AMP, 2024 Financial Wellness Report
