Benefits communication is key retention tool, study says
How important is effective benefits communication? So important that it could be the difference between retaining top talent or sending them searching for greener pastures.
That’s what MetLife’s 12th Annual U.S. Employee Benefit Trends Study (PDF) recently uncovered.
According to the report, when workers think their employer does a good job with benefits communication they’re more than twice as likely to say they’re “very loyal” to their employer.
Other study highlights: Employees are more satisfied with their benefits now than ever over the study’s 12-year history, and significantly more employees say their benefits are the reason they joined or remained with their company.
Room for improvement
The good news is, despite the fact they’re are being asked to shoulder more of the overall costs, more workers reported being satisfied with their benefits than at any time during the 12 years MetLife has been conducting the study.
And the number of workers who said their employers’ benefits were the reason they joined or remained with that company increased this year as well.
Of course, there is still room for improvement.
The study highlighted these benefits areas where staff were looking for more help from their employers:
- 40% are looking to their firms for help achieving financial security through benefits
- 50% agree they need help understanding how their benefits work, and
- 58% aren’t confident they’re using their benefits effectively.
One of the biggest opportunities for employers to improve their benefits communication right now lies in the area of financial wellness.
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