Pension & Benefits News Employees at smaller companies understand their benefits better than those at large companies
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Tuesday, June 18, 2019

Employees at smaller companies understand their benefits better than those at large companies

By Pension and Benefits Editorial Staff

Almost half (47 percent) of employees who work for companies with fewer than 100 employees report understanding their benefits “very well,” according to recent research from Colonial Life. The survey of 1,506 full-time employees found that workers at larger businesses are less confident in their benefits understanding: only 33 percent of employees who have more than 100 coworkers report understanding their benefits that well.

According to the survey, employers with more than 100 workers are more likely to depend on email (58 percent), websites (49 percent), and mailed packages (30 percent) to educate employees about benefits. While 34 percent of businesses smaller than 100 employees also rely on email, they focus more attention on personalized individual and group meetings with HR professionals.

Nearly 25 percent of employees at the smallest businesses say individual meetings with benefits experts are available to them, compared to just 14 percent at employers with more than 100 workers. And 37 percent of the smallest employers have group meetings with HR professionals to discuss benefits, compared to just 29 percent of larger employers.

“While it can sometimes seem like a challenge for small employers to offer top benefits, they engage their employees with personalized benefits education to ensure they are protecting their families, their finances and their futures,” Shaffer said. “Offering tailored benefits communication to employees doesn’t have to be expensive. In fact, it doesn’t have to cost anything at all if you partner with a high-quality benefits provider that makes benefits education a top priority and offers highly trained benefits counselors for enrollments.”

SOURCE: www.coloniallife.com

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