The Importance of Communicating Employee Benefits

A proven relationship exists between the awareness of benefits and positive opinions of benefits on offer The importance of communicating employee benefits Not educating your employees about what benefits are available to them is equal to having provided no benefits at all Organisations spend more than a 1/3 of their revenues on people-related investments such as remuneration and benefits, They are also more likely to be more satisfied with their benefits and their jobs. yet the greatest factor for employee attrition is insufficient compensation and benefits. Talk to us about an effective employee benefits program for your organisation. accumulate.com.au Employees' most common complaint is that they don't know where to find information about how to best use their benefits The provision of benefits related information boosts overall employee satisfaction with the benefits package and benefits satisfaction is positively correlated with employee engagement. But how can your employees value something they don’t know exists? Sources: Aligning your total rewards strategy with your business goals, Ken Gilbert - Mercer Human Resource Consulting, Sally Cornish - Mercer Human Resource Consulting, The AchieveGlobal Study http://www.achieveglobal.com/resources/files/Worldwide_Trends_Employee_Retention_Report.pdf, “Inside Employees’ Minds, Navigating the New Rules of Engagement” – research on broader drivers of engagement 2011, The Glassdoor Quarterly Employment Confidence Survey, http://www.workforce.com/articles/four-creative-low-cost-ways-to-educate-employees-about-benefits, Watson Wyatt WorkAsia™, Metlife’s 2011 Study of Employee Benefit Trends, 2011 Aflac WorkForces Report, AON Hewitt ttp://www.aon.com/human-capital-consulting/thought-leadership/communication/article_employees_engaged.jsp Underutilising opportunities to communicate is a wasted investment That’s why effective communication can speak volumes 2 out of 5 employees agree that a well- communicated benefits program would make them less likely to leave their jobs. 43% of employers believe a well- communicated benefits program leads to reduced turnover— and they are right. Employees who say that their company has effective benefits communications are more than 2x as likely to say they are loyal to their employer. >75 % 74 % 100 % More than ¾ of employees say that the benefits package an employer offers is extremely or very important in their decision to take a job. of organisations don’t communicate their employee benefits programs to their employees. employers actively market their benefits program to employees. of employees at small companies say their HR departments communicate too little about employee benefits. 74% of employees would be more inclined to stay with an employer if they provided good benefits. 100% of HR managers surveyed say that benefits drive retention and 65% of employers believe perks help to attract employees. 46 % Only 1 in 4 About 1 / 2 EDUCATE YOUR EMPLOYEES AT EVERY TOUCH POINT, AND UTILISE MULTIPLE CHANNELS TO GET THE MESSAGE ACROSS Recruiter Brand Interview 1:1 Meetings Company Updates Onboarding Intranet Email Podcasts Print Website Mobile Social Video 43 % 40 % 2X

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21-Oct-2014
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You can offer your employees the world’s greatest perks - but if they don't know what they are or where to find them – you’ll only ever be half way there. The launch and ongoing success of an employee benefits program is based largely on how well it is communicated. According to Metlife, employees who agree their company has effective benefits communications are more than twice as likely to say they are loyal. Benefits are a smart addition for any organisation, provided they aren't hidden from the people they're intended for.

Transcript of The Importance of Communicating Employee Benefits

A proven relationship exists between the awareness of benefits and positive opinions of benefits on offer

The importance ofcommunicating employee benefits

Not educating your employees about what benefits are available to them is equal

to having provided no benefits at all

Organisations spend more than a 1/3 of their revenues on people-related investments such as remuneration and benefits,

They are also more likely to be more satisfied with their benefits and their jobs.

yet the greatest factor for employee attrition is insufficient compensation and benefits.

Talk to us about an effective employee benefits program for your organisation.accumulate.com.au

Employees' most common complaint is that they don't know where to find information

about how to best use their benefits

The provision of benefits related information boosts overall employee satisfaction

with the benefits package

and benefits satisfaction is positively correlated with employee engagement.

But how can your employees value something they don’t know exists?

Sources: Aligning your total rewards strategy with your business goals, Ken Gilbert - Mercer Human Resource Consulting, Sally Cornish - Mercer Human Resource Consulting, The AchieveGlobal Study http://www.achieveglobal.com/resources/files/Worldwide_Trends_Employee_Retention_Report.pdf,

“Inside Employees’ Minds, Navigating the New Rules of Engagement” – research on broader drivers of engagement 2011, The Glassdoor Quarterly Employment Confidence Survey, http://www.workforce.com/articles/four-creative-low-cost-ways-to-educate-employees-about-benefits, Watson Wyatt WorkAsia™, Metlife’s 2011 Study of Employee Benefit Trends, 2011 Aflac WorkForces Report, AON Hewitt ttp://www.aon.com/human-capital-consulting/thought-leadership/communication/article_employees_engaged.jsp

Underutilising opportunities to communicate is a wasted investment

That’s why effective communication can speak volumes

2 out of 5 employees agree that a well-communicated benefits program would make them less likely to leave their jobs.

43% of employers believe a well-communicated benefits program leads to reduced turnover—and they are right.

Employees who say that their company has effective benefits communications are more than 2x as likely to say they are loyal to their employer.

>75% 74% 100%

More than ¾ of employees say that the benefits package an employer offers is extremely or very important in their decision to take a job.

of organisations don’t communicate their employee benefits programs to their employees.

employers actively market their benefits program to employees.

of employees at small companies say their HR departments communicate too little about employee benefits.

74% of employees would be more inclined to stay with an employer if they provided good benefits.

100% of HR managers surveyed say that benefits drive retention and 65% of employers believe perks help to attract employees.