Employees Want Better Benefits — but Might Not Understand the Value of Your Company’s Offerings

A robust benefits package can offer a competitive edge for any business. But conveying the advantages of those benefits — particularly to a global, dispersed workforce — can be challenging.

In a recent report about multinational businesses by Harvard Business Review Analytic Services, nearly 90 percent of surveyed business and HR leaders agreed that employees’ expectations around compensation and benefits packages are higher than ever before. Many employers are working to meet those expectations in order to recruit and retain top talent: More than eight in 10 respondents said they have improved their rewards packages in the last year.

However, nearly half of respondents said their employees are not aware of how valuable their total compensation package is.

Employers can address that communication gap by ensuring that employees know where to access details about their plan online and that they understand who they can ask about it, the report noted. 

And yet, employers should be wary of overcommunication, said the report. When employees receive plan details from too many channels — emails, HR meetings, an intranet website, messages from managers, and more — it can lead to information overload. Developing a more intentional, streamlined communication strategy and establishing check-ins along the way can help, the report suggests.

Being specific in your communications could also help. Many employees do not know how their company’s benefits stack up against those offered by other employers, the report noted, but communicating those comparisons could help improve satisfaction around company benefits.

Mark Kelly, global head of benefits and well-being at Boston Consulting Group, also recommends tailoring explanations of benefits to the individual. That means “rather than talking about the technicalities of a program, talking about the relevance — what’s in it for them, how can they get the best use out of it,” Kelly said in the report.