Study shows negative employee perception toward the value of the benefits
According to a research report released by Prudential Financial, the US workers feel uneasy and less positive about the workplace and the value of their employee benefits.
The study, Show Them the Value found that more workers felt their employers were cutting back on benefits, a perception that negatively affects their attitudes toward the value of the benefits.
Additional findings on the perceived value of employee benefits include, a clear linkage exists between the effectiveness of employee communications and the perceived value of benefits. Communications can have as much impact on worker satisfaction with benefits as the range of benefits offered or the perceived dollar amount of employer contributions.
Those who give high marks to their benefits communications are also more favorable toward voluntary benefits or benefits where the employee pays 100% of the cost. A majority of employers and workers agree that existing communication efforts are not highly effective.
Lori High, president of group insurance business at Prudential, said: “Employees must first be aware of the benefits, and really understand them to appreciate the value of those benefits. And, for benefits to have a positive effect on an employer’s recruiting and retention results, they must be thoroughly explained and promoted throughout the organization.”