For employees, understanding their benefits can be intimidating. It takes a whole lot of math – probabilities, prices, copays and deductibles — not to mention trying to weigh up the other options outside of what their employer o ers. So what do they really need to know? And how can you help?
Make sure staff know the value of their benefits
To get the credit you deserve for sta benefits, you need to communicate effectively about what you’re offering.
Not many people could accurately tell you what their health care package costs their employer. Not many know that, on average, their benefits package makes up just under a third of their compensation (31.7%).29 The better employees understand the value of their benefits, the more likely they are to judge their employer as a good place to work.
Help people get the most out of their benefits
Most employees don’t feel informed. They don’t feel comfortable making decisions about their benefits. It’s especially a problem for people with lower household incomes. And that means they don’t make the most out of the benefits offered to them.
Giving people reading material doesn’t work unless they’re already engaged and enthusiastic. More likely, that email will be deleted, or the booklet will end up forgotten under a pile of paperwork. Combining these methods with more direct benefits communication is usually the most effective option.
Keep your staff informed. Do your employees know the value of their benefits?