Employers say employees don’t have a high level of understanding about their employee benefits, yet many don’t or won’t engage with benefit communications. Employers and advisers should work to simplify communications and tailor information to interested audiences, experts say.
When the International Foundation of Employee Benefits Plans (IFEBP) surveyed 341 of its members in 2016, only 19% of respondents believed their employees have a high level of understanding about their benefits. Eighty-five percent said their biggest challenge is that plan participants don’t open or read the materials sent to them. And although 65% of respondents identified benefits communication as a high priority, nearly half said their participants don’t understand the materials they are mailed. Nearly a third said their participants don’t perceive value in their benefits.
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