The findings of a recent study by MetLife indicates that, while employees are increasingly satisfied (at 50{d044ab8acbff62f209a116f8142e303cb886f535b0fcf58cb82cde7cb327d3c9} positive response) with their employee benefits, employers are still disappointed with overall employee participation (with only 36{d044ab8acbff62f209a116f8142e303cb886f535b0fcf58cb82cde7cb327d3c9} saying they’re satisfied).
What’s more, a majority of employees (59{d044ab8acbff62f209a116f8142e303cb886f535b0fcf58cb82cde7cb327d3c9}) say they’re interested in seeing even more voluntary benefits offered by their employers, yet few of them are actually signing up for what’s already available.
And here’s the real kicker. Over a third of employees (38{d044ab8acbff62f209a116f8142e303cb886f535b0fcf58cb82cde7cb327d3c9}) claim they’re not very confident with the decisions they made during their last annual enrollment, and 27{d044ab8acbff62f209a116f8142e303cb886f535b0fcf58cb82cde7cb327d3c9} even admit that they roll over their previous benefits selections without even reviewing them or they fail to even sign up at all.
What’s the key to bridging the gap and building employee confidence? The answer could be the utilization of benefit advisers to improve communications and help employers increase employee participation. In fact, 53{d044ab8acbff62f209a116f8142e303cb886f535b0fcf58cb82cde7cb327d3c9} of employees agree they would welcome more help understanding how their benefits work and which options are best suited for their needs.
You can read the full article, which includes some enrollment strategies and tips, by clicking here. To talk to us about how Sequoyah Group can help facilitate your enrollment process, contact us today.
Benefit advisers can improve employee/employer satisfaction with benefits enrollment.