Imagine taking one hour out of your employees' day every month and dedicating it to benefits education. This may seem like a big task when there are so many other things that are considered a higher priority. But, when benefits education isn't a point of focus in the workplace, it's very likely that it's not being focused on at all.
After surveying more than 1,500 full-time employees in the United States, Colonial Life found 69% of employees spend less than an hour considering their benefit choices, including core and voluntary.
That's hardly enough time to read all of their benefits materials, let alone understand them—especially when you consider how many Americans are stressed about their finances. It takes time to carefully consider how their available benefits can fit their current and future needs.
Some employees may not realize exactly how employee benefits can be an integral part of their personal financial planning. Solutions to their financial stress through voluntary benefits is readily available, and since many are at no cost to employers, you're able to help your employees and protect your bottom line.
Another way to help improve employee financial wellness is to partner with a benefits broker that has an ongoing benefits education and communication program. Their services can be an important resource to your employees as you begin preparing your annual enrollment and year-round communication strategy.
Benefits education can be crucial for your employees' success. Equipping employees with the right information can help them make informed decisions— and help increase their job satisfaction.
Taken from the same survey, Colonial Life was able to identify a few important correlations between factors like employee retention and morale with how well employees understand their available benefits:
When employees feel care about where they work, it can help alleviate stress, as well as increase morale and their desire to remain with their current employer.
Equipping your employees with the right benefit education tools will help them become smarter decision-makers about their own benefits. They'll feel valued, less stressed and more committed to the work they're doing to provide for their families— and grow your business. It's time well spent. When you invest in your employees, it's repaid in improved productivity and retention. That's a return you'll appreciate.
Article originally published by Colonial Life.
Grooms Benefit Solutions’ proprietary platform hello benefits helps employers create employee engagement and provides opportunities for year-round benefit communication and education. For more information, or for a hello benefits demo, please contact:
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