When it comes to staffers’ benefits, the more they know, the better.
Employees who are very knowledgeable about their benefits plans are 30% more likely to be satisfied by their benefits. That’s a key finding in a recent study by Univers Workplace Benefits.
The study also found direct, honest communication about a firm’s benefits increases both retention and productivity. Example: Companies with workers who are well-educated about their benefits are 67% more likely to report turnover rates less than 20% – compared to companies with low benefits knowledge.
You may want to schedule some time to talk with your benefits pros or HR department and make sure employees are on course when it comes to benefits knowledge.
Check to see if your company uses any (or all) of these strategies during open enrollment time:
- group enrollment kits
- one-on-one meetings with HR or Benefits staff, and
- paper enrollment kits.
Another proven technique is covering your office with posters, fliers or announcements about any notable benefits changes.