More than four-fifths (85%) of respondents are more likely to work for an employer who offers clearly labelled workplace benefits, according to research by Canada Life Group Insurance.
Its survey of 1,009 full or part-time employees also found that 31% of respondents wish that their employer would provide more information on the available workplace benefits.
The research also found:
- 94% of respondents aged between 25 to 34 years old feel that better labelling of employee benefits would help them when choosing a new job.
- 37% of respondents state that their employer is very transparent and helpful when it comes to workplace benefits.
- 19% of respondents received information on employee benefits when they first joined their organisation, but have not had any information since, and 13% of respondents do not know who they would ask for further information.
- 32% of respondents believe that it is the employer’s responsibility to ensure that group risk products are clearly understood by employees, 20% feel that both employers and providers or insurers are jointly responsible, 19% think that the employees themselves should be responsible, and 17% believe that the product provider or insurer is solely responsible for ensuring employee understanding about group risk products.
Paul Avis (pictured), marketing director at Canada Life Group Insurance, said: “Our research has shown that employees do consider what benefits are available to them when deciding which employer to work for, and rightly so, but is enough being done to communicate their value?
“It is very encouraging to see younger employees in particular are taking such an interest in workplace benefits. However, there does seem to be a worrying lack of clarity about what is available and who employees should direct their enquiries to. Proactive, ongoing messaging with clear internal ownership is needed.
“Employers tend to provide these communications around induction but, to get the best from their [organisation’s] benefit spend, this needs to be maintained and provided to all staff rather than just new joiners. Insurers and advisers have a role to play in providing information and materials to help give employers the tools to drive positive conversations around their benefit packages. With a raft of superb communications in many different formats available to them, employers should actively engage with all their benefits providers to see what they can provide.”