As many as 1 in 3 workers have turned down a job offer due to lackluster employee benefits, according to PHPNI. Employee benefits, also referred to as fringe benefits or perks, are offered to employees as an addition to their salaries or wages. Standard employee benefits packages include health insurance, retirement benefits, paid-time-off (PTO) and vacation time, just to name a few.
Employee benefits can improve a business’s bottom line by encouraging workers to participate in wellbeing programs. Healthy employees often result in reduced healthcare costs for an organization. Employee benefits can also lead to happier employees, leading to decreased absenteeism and greater motivation. Competitive benefits plans also play a major role in recruitment by attracting the most talented employees.
Learn more about the importance of conducting regular employee benefits surveys and what format and questions to include in an employee benefits survey.
Importance Of Conducting Regular Employee Benefits Surveys
Conducting regular employee benefits surveys can have countless benefits for companies and their workforces. Employee surveys provide an opportunity for companies to collect feedback about which benefits are valued most and where gaps in coverage exist. Portals or platforms make it easy for businesses to create employee email contact lists, and for workers to respond using confidential website links.
Employee benefits surveys also allow businesses to request follow-up meetings and discussions from teams. Management teams can use the survey findings to determine the company’s strengths and where improvements can be made to the benefits plan. The findings of the surveys can also be used to measure the level of employee satisfaction. Survey data serves as an excellent metric to track progress over months or years and ca also be compared to industry peers and competitors.
Back-end segmentation is an important component of conducting regular employee benefits surveys. Problems may be discovered in certain departments, as opposed to the organization as a whole. With survey data, businesses can break down results for each department and determine where problems exist. Employee benefits surveys also improve communication between management and employees, encouraging workers to open up about how they feel about the current benefits offerings.
What To Include In An Employee Benefits Survey
Before creating an employee benefits survey, consider what structure is most appropriate; for example, businesses that want to learn their employees’ level of preference regarding certain benefits should consider using ranking questions. A scale structure that ranges from ‘Strongly Agree’ to ‘Strongly Disagree’ can also help businesses gain a better understanding of how employees feel about specific benefits. Many surveys are comprised of a mix of question types.
The types of questions that a business should include in its employee benefits survey will depend on its current benefits offerings or benefits the business may offer in the future. Consider asking questions in some of these important areas:
Medical insurance, as well as dental and vision coverage, are some of the most sought-after benefits. Include questions in the survey that ask employees how they view their health benefits. For example, “I am satisfied with the level of health coverage offered by my employer” with a scale ranging from ‘Strongly Agree’ to ‘Strongly Disagree’.
Some employers offer defined benefit plans while others offer defined contribution retirement plans. It is also not uncommon to find employers that offer a combination of the two. Consider adding questions that determine how well the employee understands how the retirement plan works and whether the employee is confident that they can save enough to retire comfortably.
Many states now require employers to offer a certain level of paternal leave. Offering a generous benefits package that includes this perk shows employees that the business is invested in their happiness. Ask questions that measure employees’ understanding of parental leave and whether employees feel that the current parental leave plan is adequate.
Every business takes a unique approach to time off and vacation time. Some offer paid time off (PTO) and paid vacation and holidays, while others allow workers to take non-paid time off. Include questions that measure how satisfied employees are about the current time off offerings and if they feel confident taking time off when sick or going on vacation.
Also, include questions regarding other types of benefits that the business may offer or would like to offer. Examples include childcare resources, access to food services and snacks, tuition reimbursements, gym memberships and learning allowances.
Tips For Conducting An Employee Benefits Survey
There are several aspects to consider when conducting an employee benefits survey. First, plan to implement the survey at the right time; benefits surveys are often most advantageous when performed in the months leading up to the open enrollment period. This gives employees the chance to think about what benefits are being currently offered and for which they would like to sign up or those they may want to change.
Next, establish the length and frequency of employee benefits surveys. Aim to keep surveys short and to the point; they should take employees no longer than 10 minutes to complete to prevent survey fatigue and encourage widespread participation. Many employers administer just one survey a year, although these surveys can be performed more frequently if desired.
Once feedback has been collected from employees, it is time to carefully review the results. Identify areas where improvements can be made and delegate a team to work on implementing these changes over time. Look for patterns that may indicate that employees value certain benefits that may or may not be currently offered by the company. Continue to communicate and follow up with employees after the survey.
Reach Out To An Experienced Business Benefits Consultant
Employee surveys can provide organizations with much information about how their employees view current benefits offerings and how certain changes could encourage positive change within the company. Benefits surveys give employees a voice and allow employers to enhance their employees’ performance and overall work experience. For more tips on how to conduct a successful employee benefits survey or to speak with an experienced business benefits consultant, contact the professionals at the Business Benefits Group.