Ratings of benefits education tied to workplace satisfaction
CHATTANOOGA, Tenn.--(BUSINESS WIRE)--
This enrollment season, employees have a message for employers about
their benefits: Tell us more, please.
Only 33 percent of employees who were asked to review benefits in the
prior year rated the benefits education they received as excellent or
very good – a drop from 2012 (37 percent) and a reversal to the upward
trend in ratings since 2009. In addition, in 2013, nearly three in 10
(27 percent) rated their benefits education as fair or poor.
The online survey of 1,521 working adults, conducted by Harris Poll on
behalf of Unum in December 2013, finds that 74 percent of employees
report understanding life insurance somewhat or very well and 71 percent
report the same level of understanding of vision insurance. Yet
understanding of other benefits lags behind:
-
Less than half of employees report understanding supplemental medical
coverage somewhat or very well (40 percent)
-
Only 47 percent report they understand critical illness insurance
somewhat or very well
-
Nearly half (48 percent) whose employers offered long or short term
disability insurance said no one explained disability insurance to
them, while two-thirds of all employees (66 percent) agree employers
should do a better job educating employees about these important
benefits.
“The Affordable Care Act is raising lots of questions and leading to
changes that extend beyond health coverage,” explains Bill Dalicandro,
vice president of Unum’s Consumer Solutions Group. “Employees are making
decisions about their benefits that they have never had to make before.
It’s vital for employers to provide the right tools and information for
employees so they can understand their benefits options and choose the
coverage that is right for them.”
When given the information they need to make informed decisions about
their benefits, employees tend to rate their benefits education higher.
Among the 70 percent of employees whose company offered long or short
term disability insurance and who received education on disability
insurance, 83 percent rated their benefits education positively.
And Unum’s research also shows just how big an impact a good benefits
education program has on workplace satisfaction.
In this most recent study, 79 percent of workers who reviewed benefits
in the past year and rated their education as excellent or very good
also rate their employer as excellent or very good – compared to only 30
percent of those who said the education they received was fair or poor.
“Offering employees effective benefits education can contribute to
satisfaction with their employer,” Dalicandro said. “Even if employees
don’t have a particularly good benefits package, those who say they
received quality education about the benefits they are offered are far
more likely to consider their employer a very good place to work.”
Methodology
This survey was conducted online within the United States by Harris Poll
on behalf of Unum from Dec. 18-20, 2013, among 3,031 adults ages 18 and
older, 1,521 of whom are identified as working adults that are
full-time, part-time, or self-employed. For complete survey methodology,
including sampling and weighting variables, please contact Dawn McAbee
at dmcabee@unum.com.
The prior surveys referenced in this document were conducted online from
Dec. 9-11, 2008 (n=2,137), Dec. 9-11, 2009 (n=2,029), Dec. 6-8, 2010
(n=3,489), Dec. 16-20, 2011 (n=3,339), and Dec. 13-17, 2012 (n=3,031)
among a similar population.
About Unum
Unum
is a leading provider of financial protection benefits through the
workplace. The group disability insurance leader in the U.S. for 38
years, Unum’s portfolio of financial protection products also includes
life, accident and critical illness, which help protect millions of
working people and their families in the event of an illness or injury.
In 2013, Unum paid $5.5 billion in benefits to nearly 492,000
individuals and their families.
For more information visit us at www.unum.com
or connect with us on Facebook,
Twitter
and LinkedIn.
Unum
Dawn McAbee, 423-294-1892
Toll free: 866-750-8686
dmcabee@unum.com
Source: Unum