Employee's Knowledge of Benefits
Research, according to Society for Human Resource Management, has shown about half of employees don’t understand their benefits package. This can cause a lot of commotion around the time of open enrollment and once they figure out the details of the plan they selected, they may decide they would like to switch plans, however it is usually too late. In order to avoid this issue, your company should consider making the communication around open enrollment easy to understand. There are many ways in which you can better inform your employees on their benefits. One way would be to have a Benefits representative come onsite multiple times, in order to account for employees working different shift schedules, and provide details on the various plan offerings. This can be very informative to employees and give them the opportunity to ask questions specific to their situation and intended use of benefits. Another way you can provide information would be to record the presentations done by the benefits representative and post these online for employees to view at their own convenience. This also makes it possible for employees to go over the benefit packages with their spouse. Additionally, you can create a Web portal for your employees to view all related benefits information.
What does this mean for your business?
Make sure your employees are fully aware of their benefits. Not only can this save your company time around open enrollment, but you will create more employee satisfaction within your company. Give your employees access to information regarding benefits and a place in which they can ask questions in order to be well informed before they sign up during open enrollment.