As it turns out, there may be quite a difference between the perception of how employers think they’re doing when communicating about benefits and the reality of how their employees are really receiving that communication.
According to a survey by Alegeus Technologies, 47-60{d044ab8acbff62f209a116f8142e303cb886f535b0fcf58cb82cde7cb327d3c9} of employees polled state they’re satisfied with the communications from their employer. However the employers surveyed thought their effectiveness was actually 9-19{d044ab8acbff62f209a116f8142e303cb886f535b0fcf58cb82cde7cb327d3c9} higher.
That’s not to say that you’re not getting your point across. It’s just that you might not be doing quite as well as you think you are when communicating with your workers about their benefits.
One of the best and simplest ways to help bridge this gap is through the year-round support of a benefit adviser who can walk your employees through the enrollment process and address any issues that arise later on.
This is an obvious need, as 65{d044ab8acbff62f209a116f8142e303cb886f535b0fcf58cb82cde7cb327d3c9} of employees reported their employers only talk about benefits during open enrollment. Another 60{d044ab8acbff62f209a116f8142e303cb886f535b0fcf58cb82cde7cb327d3c9} said they have to get their information from written summaries and enrollment forms. Only 33{d044ab8acbff62f209a116f8142e303cb886f535b0fcf58cb82cde7cb327d3c9} have access to calculators that compare plans, and a mere 17{d044ab8acbff62f209a116f8142e303cb886f535b0fcf58cb82cde7cb327d3c9} have tools that allow them to enter personal information to help with their decision-making process.
Employees are also grossly uneducated about their benefits plans. Not even 1 out of 4 understand the difference between their health plan options. And of the employees with HSA and FSA plans, only 30{d044ab8acbff62f209a116f8142e303cb886f535b0fcf58cb82cde7cb327d3c9} and 50{d044ab8acbff62f209a116f8142e303cb886f535b0fcf58cb82cde7cb327d3c9} (respectively) passed a simple proficiency test on how those plans work.
The key takeaways from this survey, discussed further in a recent Employee Benefit Adviser article, are that discussions about benefits shouldn’t be a once per year event. And the service of an adviser is crucial to fill the gap between what employees know and what employers think they know. Contact Sequoyah Group today to find out how we can help.