85% of employees are more likely to work for employers who offer clearly labelled benefits – Canada Life Group

Research from Canada Life Group Insurance reveals 85% of employees are more likely to work for employers who offer clearly labelled workplace benefits, suggesting ‘workers value benefits when choosing a new job position but often struggle to understand what they are being offered’.

• The trend is particularly pronounced among employees aged 25 to 34, with 94% agreeing that better labelling would help their decision.
• Employer communication regarding benefits is often sporadic, with 37% respondents stating that their employer is very transparent and helpful when it comes to workplace benefits.
• 31% wish their employer would provide more information, with 19% only receiving benefits information when they first joined and never again after that.
• 13% would have no idea who to ask for further information.

Paul Avis, Marketing Director at Canada Life Group Insurance, said:

‘It is very encouraging to see younger employees in particular are taking such an interest in workplace benefits. However, there does seem to be a worrying lack of clarity about what is available and who employees should direct their enquiries to. Proactive, ongoing messaging with clear internal ownership is needed.
‘Employers tend to provide these communications around induction but, to get the best from their company’s benefit spend, this needs to be maintained and provided to all staff rather than just new joiners. Insurers and advisers have a role to play in providing information and materials to help give employers the tools to drive positive conversations around their benefit packages. With a raft of superb communications in many different formats available to them, employers should actively engage with all their benefits providers to see what they can provide.’

Canada Life has been ‘providing group products for intermediaries and their corporate clients for over 40 years’. It is one of the UK’s largest providers of group risk insurance, covering over 2.7 million people through our group insurance schemes. For more information, visit www.canadalife.co.uk/group/Default.asp