Over the past year, 52% of employers have sought to improve employees’ well-being by expanding voluntary/employee-paid benefits. There is no question that employees value these benefits:
- 68% say voluntary benefits are essential to a comprehensive benefits package
- 61% say they get better value through their employer than what they could get purchasing these benefits on their own
- 80% have seen direct savings from voluntary benefits
While employers expand their offerings, they’re looking for more effective ways to communicate the value of voluntary benefits:
- 84% have increased employee communications
- 72% say that it’s extremely or very important to have targeted communications
- 58% say that it’s extremely or very important to integrate voluntary benefits with core enrollment compared to only 25% who said so in 2017
- 54% plan to change the way they communicate to increase the visibility of their voluntary benefits
- 53% plan to integrate voluntary benefits with a well-being strategy
- 40% say that addressing financial stress has been a top reason for increasing voluntary benefit communications compared to only 16% who said so in 2017
The need to improve communications is real. Less than a third of employees view existing employer resources as helpful for meeting their top priorities of saving money, increasing financial wellbeing, and improving their mental health.
Communicating voluntary benefits through online platforms, webinars, and videos is not enough. As the number of options expands, employers should consider offering personalized communications to employees year-round. Employees want to have their questions answered by HR or the benefits service center, but most commonly, they’ve been relying on friends and family for information. That reveals the importance of employers providing accurate information instead of having employees turn to external social sources.
CoPower offers popular voluntary benefits along with effective employee communication strategies and support.
Contact CoPower for product suggestions and communication strategies.
Rodney Mattos
CoPower Regional Sales Manager
Email: rmattos@copower.com
Phone: 916.261.9280
Schedule an Appointment with Rodney
or
Jason Diffenauer
CoPower Sales Account Manager
Email: jdiffenauer@copower.com
Phone: 650.931.1731
Schedule a meeting with Jason