Understanding benefits can offer a key to employee satisfaction
CHATTANOOGA, Tenn.--(BUSINESS WIRE)--
As employee benefits enrollment season approaches, there’s some good
news for employers seeking cost-effective ways to help boost engagement
in the workplace.
A
study from Unum (NYSE:UNM) reveals the strong connection between the
quality of the benefits education employees receive and their perception
of their employers.
“Employers are looking for ways to show employees they care without
breaking the bank, and effective benefits education can be a low-cost,
high-impact way to affect worker satisfaction,” said Bill Dalicandro,
Unum’s vice president for enrollment.
The findings come at a time when industry research is revealing the
degree to which employee engagement has suffered in the unsteady
economy. The percentage of organizations with falling engagement scores
tripled in two years, with the most significant dips occurring this
year, finds a new survey from Hewitt Associates.
And some 31 percent of human resources managers say morale and employee
productivity are their biggest concerns over the next six months,
according to a survey released in July by ComPsych Corporation, a
provider of employee assistance programs.
“Offering employees effective benefits education can help make the
difference in their satisfaction,” Dalicandro said. “Even if employees
don’t have a particularly good benefits package, those who say they have
a strong understanding of their benefits coverage are dramatically more
likely to consider their employer a very good place to work.”
The right tools
Unum’s survey of 1,106 adults who are employed full time was conducted
online by Harris Interactive. The results show that the right tools are
a critical part of the benefits education process. Employees consider
one-on-one and group meetings, online tools and printed materials among
the most valuable benefits communication methods. But over the last two
years, their access to those materials fell markedly:
-
The percentage of employees who received printed information or
brochures dropping from 70 percent in 2008 to 51 percent in 2009.
-
The percentage of employees who were offered a chance to attend a
group meeting about benefits where they could ask questions dropped
from 52 percent to 36 percent.
-
The percentage who had access to a one-on-one meeting with a benefits
adviser fell from 38 percent to 22 percent.
Between 2008 and 2009, workers came to value their benefits even more,
according to the research. But across every age group, fewer employees
said they had received excellent or very good benefits education. In
2008, 39 percent of workers gave their benefits education positive
ratings. In 2009, that number dropped to 29 percent.
At the same time they saw less access to information about their
benefits, 45 percent of employees reported they had seen changes in
their benefits packages, including 31 percent who said they are paying
more for benefits, and 9 percent who reported at least one benefit was
discontinued.
“As the benefits landscape is shifting, it is more important than ever
to give employees the right tools to understand their benefits choices
and to communicate what’s available to them,” Dalicandro said. “It’s an
approach that benefits everyone.”
About Unum
Unum (www.unum.com)
is one of the leading providers of employee benefits products and
services in the United States and the United Kingdom. Through its
subsidiaries, Unum provided $6 billion in total benefits to customers in
2009.
Harris Interactive Survey Methodology
This survey was conducted online within the United States by Harris
Interactive on behalf of Unum from Dec. 9 – Dec. 11, 2009, among 2,029
adults ages 18 and older of whom 1,106 adults were employed (and not
self-employed). This online survey is not based on a probability sample
and therefore no estimate of theoretical sampling error can be
calculated.
In December 2008, Harris Interactive conducted similar research for Unum
using many of the same questions among 2,137 adults of whom 1,122 were
employed.
About Harris Interactive
Harris
Interactive is one of the world’s leading custom market research
firms, leveraging research, technology, and business acumen to transform
relevant insight into actionable foresight. Serving clients in over 215
countries and territories through our North American, European, and
Asian offices and a network of independent market research firms, Harris
specializes in delivering research solutions that help us – and our
clients – stay ahead of what’s next. For more information, please visit www.harrisinteractive.com.
Source: Unum
Contact:
MEDIA:
Unum
Mary Fortune, 423-294-6368
mfortune@unum.com