50% feel their benefits package is not always tailored to their needs

Liz Walker

Half (50%) of employee respondents feel their employee benefits package is not always tailored to their needs, according to research by Unum.

Its Workplace communication blueprint, which surveyed 1,100 employees and conducted roundtable discussions with employee benefits and communication professionals, also found that 29% of respondents think their employer does not understand what is important to them in a benefits package.

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The research also found:

  • 18% of employee respondents are dissatisfied with the current benefits package.
  • 32% of employee respondents believe their employer does not understand what benefits are important to employees.
  • 58% of employee respondents are aware of all of the employee benefits available to them, 28% are aware of some of the benefits they have access to, and 13% are not aware of any employee benefits at their organisation.
  • 34% of employee respondents feel employers should take more responsibility for providing financial education and guidance for staff, 37% would welcome additional help from their employer on financial issues.
  • 46% of employee respondents believe financial education and guidance is relevant and useful as part of a benefits package.
  • 29% of employee respondents believe that their HR department is best placed to speak to staff about their benefits options, 21% believe the HR team is best placed to suggest new benefits, 34% think HR professionals are the best people to provide information on current benefits.
  • 37% of employee respondents do not know if their organisation offers an employee assistance programme (EAP), 31% do not know if their employer provides income protection insurance, 26% are unaware if they can have access to childcare vouchers through their workplace, and 17% do not know if they can make a pension contribution over the statutory minimum.
  • 43% of employee respondents like to be communicated to about benefits via emails, from either inside or outside the organisation, 32% would prefer to be told about their benefits through the staff intranet, 30% want to hear about employee benefits in face-to-face sessions or talks led by the organisation, and 28% like to be informed about benefits during team briefings.
  • 59% of employee respondents say that knowing their employer supported their financial wellbeing would make them feel reassured, and 42% state that their current benefits package does not include access to financial advice.

Liz Walker (pictured), human resources director at Unum, said: “Both employees and consumers have an awful lot of information arriving at them from many different sources. So businesses need to find a way to cut through that noise by offering relevant and engaging messages that reflect the needs, wants, and motivations of its employees. These can only be known by fully understanding their workforce and what they need, want, and value.”