Recent findings reveal a stark contrast in perceived appreciation of employee benefits between employers and employees.
- Sixty-six percent of employers believe their staff highly appreciate benefits, while only 21% of employees agree.
- Employee benefits are seen as a standard part of remuneration, but awareness and understanding are lacking.
- Efficient access to benefits and reviewing their relevance can enhance appreciation.
- Measuring employee appreciation through various feedback methods is crucial for effective communication.
Recent data highlights a significant disconnect in the perception of employee benefit appreciation. While 66% of employers believe their staff ‘very much’ appreciate the benefits offered, only 21% of employees echo this sentiment. This discrepancy underscores the need for improved communication and understanding between employers and employees concerning the value and access to these benefits.
Employee benefits now constitute a fundamental aspect of remuneration packages. To enhance appreciation, employers must actively communicate where and how benefits go the extra mile. This involves ensuring that employees are not only aware of the available benefits but also understand them comprehensively. One crucial step is to streamline the process by which employees can access these benefits, making it straightforward and efficient.
Employers face a choice: if appreciation remains low despite efforts to highlight and simplify benefits, it may be time to reassess their relevance. This evaluation is vital as employee benefits represent a significant investment for businesses. Properly valued benefits can greatly enhance employee retention and recruitment. When appreciation is lacking, the opportunity cost is substantial, suggesting a potential reevaluation of the benefits offered.
As Katharine Moxham from GRiD stated, the bond between communication and appreciation is strong. Employees tend to appreciate benefits more when they have a good understanding of what is available. This emphasizes the importance of effective communication strategies for employers.
To gauge employee appreciation, businesses commonly employ multiple feedback mechanisms. Informal feedback to managers or HR and suggestion boxes are used by 46% of employers each. Formal staff surveys and employee liaison groups are also popular, at 45% and 40%, respectively. Additionally, online activities tracking clickthrough rates offer insights into employee interest levels. However, these measurements must be paired with ongoing communication efforts to remain effective. Regular updates to benefits, especially those related to group risk such as life assurance and critical illness coverage, need to be clearly communicated to meet ever-evolving employee and employer needs.
The adaptability of employee benefits providers during challenging times, such as the COVID-19 pandemic, highlights the dynamic nature of these offerings. Providers constantly evolve their products to reflect the changing needs of both employees and employers. By prioritizing employee benefits, organizations can foster loyalty, as workers are more likely to remain loyal to employers who demonstrate genuine care for their well-being.
The effective appreciation of employee benefits is essential for fostering loyalty and maximizing recruitment and retention opportunities.
