Employee loyalty tied to frequency of benefits communication
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Studies indicate that the frequency of benefits communication has a positive correlation to workers’ likelihood to leave, but many employers are falling short. According to a first quarter, 2012 survey published by Aflac, the correlation between the frequency of benefits communications and likelihood of an employee to leave are as follows:
- 65%………. Communicates only at open enrollment or new hire enrollment.
- 18%………. Communicates 2 times throughout the year.
- 12%………. Communicates 3–5 times throughout the year.
- 3%………… Communicates 6–9 times throughout the year.
- 1%………… Communicates 10+ times throughout the year.
The study also indicated that 45 percent of surveyed employees said their human resources department communicated too little about their benefits.
A separate study of U.S employers conducted in May 2012 by Benz Communications titled “Inside Benefits Communications Survey” had these related findings:
- 78 percent of employers cited getting employees engaged year-round among their biggest challenges, yet less than a third communicated with employees year-round.
- 60 percent of employers’ top goals included executing a successful annual enrollment, increasing workers’ use of preventive care and increasing employees’ 401(k) savings. However, only 24 percent reported meeting these goals in 2011.
(Photo credited to mtmrecognition.com)
DISCLAIMER: Because of the generality of this update, and based on particular situations, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice, financial advice and/or the advice of a licensed insurance or certified human resource professional.
© Connelly, Carlisle, Fields & Nichols 2012