9 March 2007
Are you reading your employees accurately?
US employers aren't fully anticipating employee needs or communicating benefits changes effectively, says survey.
Neither US companies nor employees believe that the communication surrounding their current benefit programs is quite up to scratch, according to a new survey, From Responsibility to Action: Making Benefit Change Work, conducted by global professional services firm Towers Perrin.
There's an urgent need to reconnect with employees and build a meaningful communication process that helps employees make better decisions.
Call to action
Of the 2,380 employees from large US organizations who completed the
survey, many employees don’t believe their companies
are rolling out benefits changes in their programs with adequate support,
communication and tools. "There's
an urgent need to reconnect with employees and build a meaningful change
and communication process that helps employees adapt and make better
decisions," said Steve Kerstein, managing director for Towers Perrin’s
Retirement practice.
Kerstein continued, "Close to half (42%) of the respondents said that recent benefit changes negatively affected their trust in management. Almost a quarter (23%) felt the changes in programs might affect their intention to stay with their employer – posing a significant retention risk for companies, especially among key pools of talent." A nearly equal percentage (25%) said their motivation to do a good job had diminished.
"These findings will surprise most companies. Virtually all (96%) of the employers in our survey that modified their programs in recent years felt the impact on employee engagement was neutral or even positive," Kerstein concluded.
Many employees don’t believe their companies roll out benefits changes in their programs with adequate support, communication and tools.
A show of faith
According to Dave Guilmette,
MD for Towers Perrin’s
Health and Welfare practice, some
employers might be tempted to dismiss employees' views because of a
belief that employees don't really understand
or appreciate their benefits. "But the survey data suggests otherwise,"
he says. "It shows that benefits serve as a powerful symbol of the organization's
commitment to employees. When employees' faith in that symbol erodes,
so do their feelings of engagement and, in turn, the level of dedication
and energy they bring to their jobs."
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