The majority of employees (81%) are not making the most of their benefits packages.
However, nearly half (47%) are actively taking steps to measure the value of the package they are entitled to, according to Personal Group’s Let’s Talk Benefits research conducted among 109 individuals.
In order to better measure the value of their package, employees noted their top support mechanisms as easy calculation of the value of benefits (38%), receiving more information about the package (34%), receiving more detail on specific products (32%) and receiving a total reward statement (22%).
Mark Eaton, director at Personal Group, said: “Employee communications about benefits, it seems, are failing to ‘hit the spot’, particularly when it comes to addressing the value of benefits packages on offer.
“It is simple really, if employees are not fully aware of how to use the products and services available and they do not have confidence in what you are offering, they will not take them up and you are effectively wasting your money.”
Karen Edwards, director at Personal Group, added: “Clearer and more targeted communication – based on solid research and understanding the preferences of your workforce – are key factors in enabling employees to measure value and make the most out of the products and services they have access to.
“Whether this is through more detailed face-to-face discussions or by developing a tool to calculate financial value, employees want to be confident that what is on offer is easily accessible and truly of value to them.”
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