Colonial Life White Paper Says Communication Can Maximize Value of Employee Benefits

  Colonial Life White Paper Says Communication Can Maximize Value of Employee
  Benefits

Business Wire

COLUMBIA, S.C. -- April 16, 2013

Employers aren’t getting the maximum value from their employee benefits if
they’re not effectively communicating them to their workers. That’s the
message of a new white paper released today by Colonial Life.

“Employee Benefits: Are You Getting Your Money’s Worth?” cites the latest data
from Colonial Life’s proprietary research, national research organizations and
government resources to examine the importance of benefits communication in
helping employers maximize the investment they make in employee benefits.

“Benefits today account for more than 30 percent of employee compensation,”
says Steve Bygott, assistant vice president of marketing analysis and programs
at Colonial Life. “But if employers are not effectively communicating their
benefits, they’re not getting the full value of their investment. That kind of
oversight can be very costly.”

How effective are employers at communicating benefits?

The majority of employers think they do an effective job communicating
benefits, but Colonial Life research^1 conducted among employees with
employer-sponsored benefits tells a different story.

“Only 23 percent of employees think their employers communicate their benefits
very effectively,” says Bygott. “Even more troubling is our finding that 9
percent of workers say the benefits communication they receive is not at all
effective.”

Employees say understanding their benefits is very important.

The majority of American workers with employer-provided benefits — 73 percent
of them — say understanding their benefits is very important, according to the
latest Colonial Life research.^1 However, not all employees have access to
basic communication tools and best practices. Survey respondents reported
employers could make several changes to improve benefits communication,
including the following:

  *Provide benefits information they can access at home or at work (38
    percent)
  *Provide benefits information that’s easier to understand (37 percent)
  *Provide an opportunity to talk with a benefits expert on company time (34
    percent)
  *Provide benefits information more frequently (31 percent)
  *Provide benefits information more personalized to their needs (30 percent)

Effective benefits communication strategies don’t have to add expenses or
administrative burdens for employers, according to the white paper. There are
many relatively easy and practical steps employers can take to strengthen the
value of their benefits plans, including partnering with a benefits provider
that can offer comprehensive benefits communication and education services.

“For employees to ultimately get the most value from their benefits
investment, they need to provide face-to-face, personal communication with
their employees,” says Bygott.

Download a copy of the white paper at ColonialLife.com.

About Colonial Life

Colonial Life & Accident Insurance Company is a market leader in providing
financial protection benefits through the workplace, including disability,
life, accident, cancer, critical illness and supplemental health insurance.
The company’s benefit services and education, innovative enrollment technology
and personal service support more than 79,000 businesses and organizations,
representing more than 3 million working Americans and their families. For
more information, visit www.coloniallife.com or connect with Colonial Life at
www.facebook.com/coloniallifebenefits, www.twitter.com/coloniallife and
www.linkedin.com/company/colonial-life.

^1 Online survey conducted for Colonial Life & Accident Insurance Company by
Harris Interactive, Feb. 27-Mar. 1, 2013, among 2,111 adults ages 18 and older

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Contact:

Colonial Life & Accident Insurance Company
Jeanna Moffett, 803-678-5445
JMoffett@ColonialLife.com
 
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