Many employees worry about a loss of benefits, but a new survey from Prudential shows that workers are mixed when it comes to understanding their employee benefits.
This year's edition marks the fifth time Prudential has released such a study, and its most recent outlook found that 35 percent of companies rank telling employees about their benefits as a priority. Meanwhile, only 28 percent of companies prioritize informing employees about their diverse options.
"Given the challenges companies’ HR professionals have faced, ranging from downsizing to understanding the impact of the new health care legislation, it’s not surprising that companies have focused less on benefits education and communications," said Jean Wiskowski, vice president of Marketing, Prudential’s Group Insurance.
Prudential's study also found that 34 percent of workers believe cost sharing is a very important employee benefits strategy - up 15 percent from the company's 2007 survey. However, only 28 percent of respondents believe increasing] benefits is "highly important" - down 6 percent from 2007. Nearly a quarter of respondents (24 percent) said they simply rollover the same benefits plan to the next year, while 44 percent said they weigh options and discuss plans with relatives or friends.
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