# The Transformative Role of Employee Benefits in HR Strategy
Employee benefits have evolved significantly in recent years, becoming a critical component of HR’s strategic toolkit. This transformation has been particularly evident following the COVID-19 pandemic, which dramatically shifted workforce priorities and expectations. For HR leaders like Shereen Solaiman, Chief People Officer at Myriad Genetics, employee benefits represent more than just compensation—they demonstrate HR’s capacity as a strategic business driver.
## The Strategic Value of Tailored Employee Benefits
Understanding your specific workforce needs is essential for creating meaningful benefits packages. For Myriad Genetics’ 2,700 employees, this has meant prioritizing financial wellness programs and addressing healthcare cost concerns. Solaiman, drawing from her extensive experience at OhioHealth and Borders Group, has shaped benefits strategies that align with the company’s unique mission in genetic testing and precision medicine.
The most effective benefits strategies share several key characteristics:
– They reflect the specific needs of the employee population
– They balance cost management with competitive offerings
– They adapt to changing workforce priorities
– They support the organization’s broader mission and values
– They serve as differentiators in talent acquisition
## Financial Wellness: A Growing Priority
When Solaiman joined Myriad in 2023, she quickly identified financial wellness as an area requiring immediate attention. “We have to take care of our teammates,” she emphasizes, noting the importance of being proactive rather than reactive to market changes.
This proactive approach led to the creation of the Myriad Hope Fund (Helping Our People Endure), designed to provide financial assistance to employees facing difficult personal circumstances. The initiative came after Solaiman discovered employees were creating GoFundMe campaigns to support colleagues in need—highlighting a gap in the company’s support systems.
### Building Community Through Benefits
The impact of programs like the Hope Fund extends beyond the immediate financial assistance. As Solaiman notes, “While you may just affect a small percentage of them, the culture is such that it creates this unity, this feeling that we take care of each other.”
This demonstrates how thoughtfully designed benefits can strengthen organizational culture and foster a sense of community—even among employees who don’t directly use specific benefits. In recruitment terms, this creates powerful employer branding narratives that resonate with potential candidates seeking supportive work environments.
## Managing Healthcare Costs While Maximizing Value
A significant challenge for HR leaders is managing the continuously rising cost of healthcare benefits. At Myriad, Solaiman focuses on providing maximum value while controlling costs for both employees and the organization.
“I’ve gotten great feedback from new hires about the costs of our benefits compared to other organizations they’ve been in,” Solaiman shares. “We’re working really hard to minimize those costs.”
This balance is critical in today’s competitive talent market, where candidates evaluate total compensation packages rather than just salary figures. Organizations that can offer comprehensive healthcare coverage at reasonable employee contribution rates gain a significant advantage in recruitment efforts.
## Leveraging Technology: The AI Opportunity
Beyond traditional benefits, Solaiman recognizes the potential of emerging technologies like AI to enhance HR operations. However, she emphasizes the importance of change management in technology adoption.
“AI can be really scary to people,” she acknowledges. “Their first thought sometimes is, ‘Oh, it’s going to replace my job.’ You have to reframe it: ‘This is here to enable your position.'”
Myriad has taken a measured approach to AI integration:
– Providing safe access through platforms like Microsoft Copilot
– Exploring AI applications in recruiting processes
– Considering AI-powered benefits information systems to provide faster answers
For recruitment professionals, AI tools offer significant opportunities to streamline candidate communications, improve job description quality, and enhance the candidate experience through more responsive information systems.
## The Personal Journey to HR Leadership
Solaiman’s path to HR leadership wasn’t traditional. She “backed into HR” while working at Starbucks during her master’s degree studies. Initially planning a career in hospital administration, she discovered leadership talent while working in retail.
“I learned very quickly the importance of meeting people where they are, the importance of working with a diverse group of people, the importance of serving others in what’s important to them,” she reflects.
This service-oriented mindset has informed her approach to HR leadership, particularly in benefits administration. Her experience demonstrates how diverse career paths can bring fresh perspectives to HR functions.
## Aligning Benefits with Organizational Mission
What drives Solaiman’s passion for HR leadership is Myriad’s meaningful mission. “We are impacting people with cancer, impacting people at high risk for cancer, expectant mothers, people who struggle with mental health,” she explains.
This mission-driven approach influences benefits decisions, ensuring they support both employee wellbeing and organizational purpose. For companies in the healthcare and biotech sectors, this alignment is particularly powerful in recruitment messaging, attracting candidates who share these values.
### The Focus on Impact
Solaiman advises focusing on impact rather than promotion. “I never looked at how to get promoted; I just wanted to have an impact,” she says. “That was the most important thing to me: How do I impact as many people as I possibly can in a positive way?”
This philosophy extends to benefits strategy—measuring success not just in cost management but in meaningful employee impact. For recruitment professionals, this translates to highlighting the tangible effects of benefits packages on employees’ lives when communicating with candidates.
## Key Takeaways for HR Leaders
The evolution of employee benefits strategy offers important lessons for HR professionals:
1. **Personalize your approach**: Understand your specific workforce needs rather than simply following industry trends
2. **Address financial wellness holistically**: Look beyond retirement plans to consider immediate financial security needs
3. **Manage healthcare costs strategically**: Focus on maximizing value while minimizing employee expenses
4. **Communicate the community impact**: Help employees understand how benefits strengthen organizational culture
5. **Align with mission**: Connect benefits offerings to your organization’s broader purpose and values
By viewing benefits as strategic tools rather than necessary expenses, HR leaders can transform their organizations’ approach to talent management, creating workplaces where employees feel genuinely valued and supported.
# The Transformative Role of Employee Benefits in HR Strategy
Employee benefits have evolved significantly in recent years, becoming a critical component of HR’s strategic toolkit. This transformation has been particularly evident following the COVID-19 pandemic, which dramatically shifted workforce priorities and expectations. For HR leaders like Shereen Solaiman, Chief People Officer at Myriad Genetics, employee benefits represent more than just compensation—they demonstrate HR’s capacity as a strategic business driver.
## The Strategic Value of Tailored Employee Benefits
Understanding your specific workforce needs is essential for creating meaningful benefits packages. For Myriad Genetics’ 2,700 employees, this has meant prioritizing financial wellness programs and addressing healthcare cost concerns. Solaiman, drawing from her extensive experience at OhioHealth and Borders Group, has shaped benefits strategies that align with the company’s unique mission in genetic testing and precision medicine.
The most effective benefits strategies share several key characteristics:
– They reflect the specific needs of the employee population
– They balance cost management with competitive offerings
– They adapt to changing workforce priorities
– They support the organization’s broader mission and values
– They serve as differentiators in talent acquisition
## Financial Wellness: A Growing Priority
When Solaiman joined Myriad in 2023, she quickly identified financial wellness as an area requiring immediate attention. “We have to take care of our teammates,” she emphasizes, noting the importance of being proactive rather than reactive to market changes.
This proactive approach led to the creation of the Myriad Hope Fund (Helping Our People Endure), designed to provide financial assistance to employees facing difficult personal circumstances. The initiative came after Solaiman discovered employees were creating GoFundMe campaigns to support colleagues in need—highlighting a gap in the company’s support systems.
### Building Community Through Benefits
The impact of programs like the Hope Fund extends beyond the immediate financial assistance. As Solaiman notes, “While you may just affect a small percentage of them, the culture is such that it creates this unity, this feeling that we take care of each other.”
This demonstrates how thoughtfully designed benefits can strengthen organizational culture and foster a sense of community—even among employees who don’t directly use specific benefits. In recruitment terms, this creates powerful employer branding narratives that resonate with potential candidates seeking supportive work environments.
## Managing Healthcare Costs While Maximizing Value
A significant challenge for HR leaders is managing the continuously rising cost of healthcare benefits. At Myriad, Solaiman focuses on providing maximum value while controlling costs for both employees and the organization.
“I’ve gotten great feedback from new hires about the costs of our benefits compared to other organizations they’ve been in,” Solaiman shares. “We’re working really hard to minimize those costs.”
This balance is critical in today’s competitive talent market, where candidates evaluate total compensation packages rather than just salary figures. Organizations that can offer comprehensive healthcare coverage at reasonable employee contribution rates gain a significant advantage in recruitment efforts.
## Leveraging Technology: The AI Opportunity
Beyond traditional benefits, Solaiman recognizes the potential of emerging technologies like AI to enhance HR operations. However, she emphasizes the importance of change management in technology adoption.
“AI can be really scary to people,” she acknowledges. “Their first thought sometimes is, ‘Oh, it’s going to replace my job.’ You have to reframe it: ‘This is here to enable your position.'”
Myriad has taken a measured approach to AI integration:
– Providing safe access through platforms like Microsoft Copilot
– Exploring AI applications in recruiting processes
– Considering AI-powered benefits information systems to provide faster answers
For recruitment professionals, AI tools offer significant opportunities to streamline candidate communications, improve job description quality, and enhance the candidate experience through more responsive information systems.
## The Personal Journey to HR Leadership
Solaiman’s path to HR leadership wasn’t traditional. She “backed into HR” while working at Starbucks during her master’s degree studies. Initially planning a career in hospital administration, she discovered leadership talent while working in retail.
“I learned very quickly the importance of meeting people where they are, the importance of working with a diverse group of people, the importance of serving others in what’s important to them,” she reflects.
This service-oriented mindset has informed her approach to HR leadership, particularly in benefits administration. Her experience demonstrates how diverse career paths can bring fresh perspectives to HR functions.
## Aligning Benefits with Organizational Mission
What drives Solaiman’s passion for HR leadership is Myriad’s meaningful mission. “We are impacting people with cancer, impacting people at high risk for cancer, expectant mothers, people who struggle with mental health,” she explains.
This mission-driven approach influences benefits decisions, ensuring they support both employee wellbeing and organizational purpose. For companies in the healthcare and biotech sectors, this alignment is particularly powerful in recruitment messaging, attracting candidates who share these values.
### The Focus on Impact
Solaiman advises focusing on impact rather than promotion. “I never looked at how to get promoted; I just wanted to have an impact,” she says. “That was the most important thing to me: How do I impact as many people as I possibly can in a positive way?”
This philosophy extends to benefits strategy—measuring success not just in cost management but in meaningful employee impact. For recruitment professionals, this translates to highlighting the tangible effects of benefits packages on employees’ lives when communicating with candidates.
## Key Takeaways for HR Leaders
The evolution of employee benefits strategy offers important lessons for HR professionals:
1. **Personalize your approach**: Understand your specific workforce needs rather than simply following industry trends
2. **Address financial wellness holistically**: Look beyond retirement plans to consider immediate financial security needs
3. **Manage healthcare costs strategically**: Focus on maximizing value while minimizing employee expenses
4. **Communicate the community impact**: Help employees understand how benefits strengthen organizational culture
5. **Align with mission**: Connect benefits offerings to your organization’s broader purpose and values
By viewing benefits as strategic tools rather than necessary expenses, HR leaders can transform their organizations’ approach to talent management, creating workplaces where employees feel genuinely valued and supported.