New benefits study uncovers what employees actually want
3 employee benefit wishes
A new study by MetLife found that 58 percent of employees are interested in customizable benefit plan options. More specifically, employees surveyed said they wanted to see a range of benefits and most of them are willing to pay for them. Here are three findings from the survey that may surprise you:
Employees want more benefits and they’re willing to pay
More than 50 percent of employees stated they were interested in their employer offering an array of non-medical benefits they can purchase and pay for on their own. Offering benefits online can give employees the opportunity to easily see what adding a specific benefit would cost them per pay period.
Another way employers can administer this is by offering a defined contribution strategy. Instead of offering a set of benefits and committing to pay the same percentage of them each year, the employer defines a flat dollar amount to contribute to the cost of employees’ health plan. Again, this is easily administered using software.
Employees want clear communication
While most employers believe their communication around benefits is clear, employees disagree. For many employees, benefits enrollment is confusing in both available options and cost. One way to easily eliminate this confusion is by offering benefits online.
Offering benefits online should mirror the experience of online shopping. For example, in BerniePortal employees are able to compare options with PDFs, links, and videos and see their total cost per pay period as they “shop” for benefits.
Employees want easier enrollment
The study also found that when enrollment is too complex, employees become stressed and end up not enrolling in benefits. If you’re looking to bring enrollment online for an easier employee experience, make sure that the system you choose is intuitive and provides education around enrollment.
While closing the gap between employers and employees perceptions of benefits will always be a constant challenge, bringing groups online is a step in the right direction. If you’re looking for more information on the topic, check out our e-book, “The Broker’s Guide to Online Benefits Administration.”
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