Employees who are confident in their benefits choices are much more likely to be satisfied with their employee benefits package, according to a new report.
Guardian Life Insurance Company of America, New York, published this finding in a report based on the findings from two separate Internet surveys conducted concurrently among 1,667 benefits plan participants (employees) and 1,071 benefits plan sponsors (employers). The Center for Strategy Research, a Boston-based market research firm, conducted the surveys in May and June.
The report observes that, while fewer than half of employees are very satisfied with their company’s employee benefits package, more than 70% who are confident in their benefits selections are very satisfied.
Fewer than 4 in 10 employers (37%) say their benefits communications are effective in helping employees make the right choices about benefits.
The lack of confidence in communications contributes to employers’ perceptions about benefits: Only 42% of employers believe that their employees are very satisfied with the benefits program offered.