Unum research finds higher worker satisfaction linked to effective
benefits education
CHATTANOOGA, Tenn.--(BUSINESS WIRE)--
Employee morale continues a slow but steady decline from 2008 levels,
but the approaching benefits enrollment season offers employers a chance
to positively engage their employees, according to research from Unum
(NYSE:UNM).
The fourth annual survey of American workers, completed following the
2011 benefits enrollment period, finds that more than one-quarter (28%)
say morale has declined since last year. The survey, conducted online by
Harris Interactive among more than 1,100 employed adults, also found
that just 55 percent of workers would choose to stay with their employer
if they were offered the same pay and benefits elsewhere – a 7 point
drop since 2008.
And despite seeing modest gains in employment and a more stable work
environment, only 52 percent of the workers surveyed rated their
employer as a very good or excellent place to work.
There’s no question the larger economic environment influences this
conversation. According to the research, one in three employees does not
feel financially secure, and more than one in four says they feel less
financially secure compared to last year at this time. Almost half are
not confident they have enough money to cover future expenses.
“In this climate, the need for effective benefits education is greater
than ever,” said Barbara Nash, vice president of Corporate Research at
Unum. “Our research shows that a good benefits education experience is a
highly effective, low-cost way for employers to demonstrate their
concern for employees and their well-being.”
The link between a positive benefit education experience and overall
workplace satisfaction isn’t new, yet Unum’s research finds that
employers continue to spend too little time and fewer resources on
helping employees understand their benefits:
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Unum’s research finds that 28 percent of employees who were asked to
review their benefits in the past year said the benefits education
provided by their employers is fair or poor.
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Only half of those employees said they received printed information or
brochures, down from 70 percent in 2008.
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Just over a third of those employees were offered a chance to attend
an information and question-and-answer session about benefits, down
from 52 percent in 2008.
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The percentage who had access to a toll-free number to speak with a
benefits advisor dropped sharply from 47 percent in 2008 to 29 percent
in 2011.
Unum’s research shows just how important an effective benefits education
can be with regards to workplace satisfaction.
In this most recent survey, 82 percent of employees who rated their
benefits education highly also rated the employer an excellent or very
good place to work. Conversely, only 27 percent of employees who rated
their benefits education as fair or poor also said their employer was an
excellent or very good place to work.
And some 79 percent of those who rated their benefits education highly
said they would choose to stay with their current employer even if they
were offered the same pay and benefits elsewhere.
“At the heart of the survey’s findings is a clear connection between
effective benefits education and engaged employees,” said Nash. “When
employers show their concern for their employees’ financial well-being,
everyone benefits.”
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 Group paid approximately $6 billion in total benefits
to customers in 2011.
Harris Interactive Survey Methodology
The 2011 survey was conducted online by Harris Interactive on behalf of
Unum from December 16-20, 2011 among a total of 3,339 adults 18 and
older, 1,820 of whom are employed full- or part-time and 1,147 of whom
were asked to review their employee benefits in the past year. The 2008
survey was conducted online by Harris Interactive on behalf of Unum from
December 9-11, 2008 among a total of 2,137 adults 18 and older, 1,122 of
whom are employed full- or part-time and 659 of whom were asked to
review their employee benefits in the past year. This online survey is
not based on a probability sample and therefore no estimate of
theoretical sampling error can be calculated. For complete survey
methodology, including weighting variables, please contact Brian Baker
at (423) 294-7839.
About Harris Interactive
Harris Interactive is one of the world's leading market research firms,
leveraging research, technology, and business acumen to transform
relevant insight into actionable foresight. Known widely for the
Harris Poll® and for pioneering innovative research
methodologies, Harris offers proprietary solutions in the areas of
market and customer insight, corporate brand and reputation strategy,
and marketing, advertising, public relations and communications
research. www.harrisinteractive.com.
Unum
Brian Baker, 423-294-7839
bbaker4@unum.com
Source: Unum