State:
Free Special Resources
Get Your FREE Special Report. Download Any One Of These FREE Special Resources, Instantly!
Featured Special Report
Claim Your Free Cost Per Hire Calculator
This handy calculator lets you plug in your expenses for recruiting, benefits, salaries, and more.

Graphs automatically generate to show you your annual cost per hire and a breakdown of where you are spending the most money.

Download Now!
February 19, 2008
Companies Step up Comp & Benefits Communication
Over half of employers (53%) reported that they took action via internal communication to increase employee enrollment in benefits programs in 2007, more than doubling the figure (25%) of employers that did so in 2003.

According to Watson Wyatt's 2007/2008 Communication ROI study, these employers used communication vehicles such as printed materials, special mailings and employee meetings to increase enrollment in benefits programs last year.

"As more companies take steps to rein in health care costs and update their benefit offerings, the need for better communication is becoming clear," said Kathryn Yates, global director of communication consulting for Watson Wyatt, in a press release. "Companies expect employees to assume more responsibility for their financial and personal health, so it's important to provide them with the resources to make informed decisions."

In addition, 50% of employers collected information "to assess perceived value of employee benefit programs" in 2007 compared to 34% in 2003.

These increases regarding benefits communication were but a few among other areas in which employer stepped up their communications with employees, including at least one related to compensation. For example, more employers communicated the connection between pay and business strategy in 2007 (80%) than they did in 2003 (70%).

Meanwhile, the number of employers that regularly measure employee behavior change to verify that communication initiatives are working also increased, from 29% in 2003 to 53% in 2007. And, many more employers also now use Web technology to allow employees to gain access to training/development tools than they did 4 years ago (57% to 37%).

Employer communication went down in several areas also, however. The largest decline reported in the survey was the number of employers that offer "personalized education materials on income needs in retirement ," a figure that dropped from 58% in 2003 to 47% in 2007. And, there was a slight drop in the percentage of employers (66% to 62%) who explain he reason behind major decisions.

"Good communication connects employee performance to the bottom line," said Yates. "Companies that expect workers to perform at peak levels are explaining why they make certain management decisions. They gather employee input and feedback to build workers' understanding ­ an exercise that has been shown to increase their productivity and improve financial results."

For a Limited Time receive a FREE Compensation Market Analysis Report! Find out how much you should be paying to attract and retain the best applicants and employees, with customized information for your industry, location, and job. Get Your Report Now!
Featured Free Resource:
Cost Per Hire Calculator
Twitter  Facebook  Linked In
Follow Us
HCMNPWS1
Copyright © 2024 Business & Legal Resources. All rights reserved. 800-727-5257
This document was published on https://Compensation.BLR.com
Document URL: https://compensation.blr.com/Compensation-news/Benefits-Administration/Employee-Benefits/Companies-Step-up-Comp-Benefits-Communication