We exist in a world that provides us with limitless information of all kinds. What we don’t have though are many clear systems that help us sift through what is valuable and what isn’t. This is especially true when it comes to employee benefits.
According to a recent SHRM article by Stephen Miller, CEBS called Missing the Mark: Employees Don’t Appreciate Benefits Spending, “over 60 percent of employees are dissatisfied with their benefit plans.” Why is there so much angst surrounding these programs? Well, as Stephen noted, there seems to be three distinct camps:
- 27% are unhappy with the actual benefit levels that are being provided
- 18th are upset with the ways they have to manage their benefits
- 17% think that communication about benefits is not ideal
What we have here are distinctly different issues with benefits, so today we intend to lay out ways you can remedy each of them and therefore be noted by your employees as an employer of choice.
Have you conducted surveys about your benefits? Are you aware of how your employees feel about your offerings? Find out! Asking questions (especially in a no-consequence or anonymous fashion) will help you gather enough data to decide whether or not your employee benefits package is serving your company well. If you receive negative feedback, consider reviewing:
- Package differences
- The employee contribution
- Alternative options to include in the package
Managing Benefits / Communication
Managing benefits can be a headache. Often, employees don’t even realize that they have certain types of benefits. Stephen’s article suggests that employers create timely reminders that are triggered based on major life events or other data that they have gathered by diving deep into their employee pool’s analytical data. These events could include their anniversary with the company, marriage, a raise and much more.
Take a moment to think about the major trends within your staff and design a more manageable system.
Stephen’s article stated, “while 64 percent of employees want access to their benefits online, only 44 percent of employers currently offer this access.” 64% want a new system so that they can effectively manage their benefits! If you don’t have that, you are most likely disappointing your employees. Consider implementing a system that is interactive like a microsite with a secure back end portal. This type of set up will improve overall understanding of benefits and will likely lead to increased use of the benefits overall.
Implementing a system to track and communicate your benefits more effectively will help position you as an employer of choice. It will show existing employees that you care and will boost morale because they know you are listening and responding to their concerns.
Employee satisfaction is a complex issue. If you would like to learn more about employee satisfaction within your company, consider trying out our interactive tool, the 23 Elements of Employee Satisfaction.