Employers Say Voluntary Benefits Lower Costs: Pru

More employers will be targeting internal communications to improve employees’ understanding of the value of their benefits, a study by Prudential Financial Inc. finds.

Plan sponsors offer voluntary benefits more so for employee retention and satisfaction, rather than for cost savings,

According to the Study of Employee Benefits: 2008 & Beyond by Prudential, Newark, N.J., 38% of employers agree that these programs have had a positive impact on employee satisfaction with their benefits programs overall, while 46% of employers say that offering voluntary benefits has helped to lower overall benefits costs.