The most important HR issues are:
- Controlling health care costs
- Retaining employees
- Increasing worker productivity
- Offering robust benefits while staying within budget/cost constraints is a top benefits challenge for 53% of large companies.
- Understanding the changing health care landscape is the second-largest benefits challenge for 33% of large companies.
The top three objectives for benefits programs are:
- Taking care of employees
- Increasing employee satisfaction
- Retaining employees
- 28% of large companies believe their current benefits package only meets employees’ needs somewhat or not very well.
- 48% of HR decision-makers think it is extremely/very important to tailor benefits offerings to employees at different levels or life stages, but only 37% do so.
- 41% of HR decision-makers at large businesses believe their employees are extremely/very knowledgeable about benefits offered at their organizations.
- 61% of large companies use a broker or benefits consultant to help determine benefits options.
- 42% of HR decision-makers believe they only communicate somewhat effectively with employees about benefits.
- The majority of large businesses (60%) say their employees understand their company’s benefits communications, but only 26% of large businesses survey or measure their employees’ understanding of benefits communications.
- 43% of HR decision-makers say it is extremely/very important to customize their benefits communication approaches to employees at different levels or life stages, but only 31% do so.
- When it comes to benefits offerings, truly understanding what employees want is a top benefits challenge for 15% of large businesses, yet only 30% of large businesses measure or survey employee preferences or needs when it comes to benefits options.
- 22% of large companies communicate benefits options to workers only during initial hire and open enrollment.
Representatives of large companies say their top challenges when adding voluntary benefits include:
- Getting employees to understand their different options
- Administration of the program
- Having employees with interest in purchasing voluntary benefits
- 41% of large companies currently offer voluntary insurance to their employees, and just 4% say they would not consider adding new voluntary insurance products.
- 22% of large companies say satisfying employee demand or interest would be their primary reason for adding voluntary benefits.
- A quarter (25%) of HR decision-makers believe their employees are extremely/very knowledgeable about voluntary benefits.
Decision-makers at large companies are the most likely to believe an overall benefits package is very/extremely influential on:
- Job satisfaction
- Worker loyalty
- Willingness to refer friends to the company
- 66% of decision-makers believe employees should be more engaged in making benefits decisions.
- A total of 66% of decision-makers say immediate family problems are the most prevalent source of worker distraction, followed by financial problems and health problems.
- 64% of large companies believe that productivity is lost because employees are concerned about personal issues.
The 2012 Aflac WorkForces Report was conducted January 24–February 23, 2012, by Research Now on behalf of Aflac.