N@N

Employee benefits season gives employers chance to boost employee morale

^{Published on 2011-09-08 20:21:45 - Market Wire}
 

CHATTANOOGA, Tenn.--([ BUSINESS WIRE ])--Employee morale remains well below 2008 levels, but benefits education continues to be a reliably effective way to boost workforce satisfaction, according to research from Unum (NYSE:UNM).

"In this difficult economic environment, there may be many reasons employee morale has not bounced back"

The third annual survey of workers, done most recently following the 2010 benefits enrollment period, finds that 63 percent of employees think their employer values their work, down from 70 percent in 2008. The survey, conducted online by Harris Interactive in December among 1,712 employed adults, also found that even fewer, 56 percent, feel that their employer cares about their well-being a" a 7 point drop since 2008.

aIn this difficult economic environment, there may be many reasons employee morale has not bounced back,a said Bill Dalicandro, vice president at Unum. aBut our research shows that benefits education can be a highly effective, low-cost way to boost engagement.a

In an environment where nearly 30 percent of employees have seen colleagues laid off and one in four has experienced a salary freeze, employers should be spending more time communicating about benefits with their employees so that they feel valued.

But the research shows theya™re not.

Employers continue to focus on other areas of their business affected by the economy, spending less time and fewer resources on employee engagement, particularly in relation to benefits education:

• Unuma™s research finds that nearly one-third of employees said the benefits education provided by their employers is insufficient.
• Only about half of employees said they received printed information or brochures, down from 70 percent in 2008.
• Just over a third of employees were offered a chance to attend an information and question-and-answer session about benefits, down from 52 percent in 2008.
• The percentage who had access to online materials fell from 51 percent in 2008 to 36 percent in 2010.

Unuma™s research shows just how big an impact a good benefits education program has on workforce satisfaction.

In this most recent survey, 80 percent of employees who rated their benefits education highly also rated the employer as an excellent or very good place to work. Conversely, only 31 percent of employees who rated their benefits education poorly also said their employer was an excellent or very good place to work.

And some 77 percent of those who rated their benefits education highly said they would choose to stay with their current employer even if they were offered the same pay and benefits elsewhere.

aPeople are the lifeblood of any successful business, and in this challenging economy employers need to work even harder to demonstrate their concern for employees and their well-being,a said Dalicandro. aEveryone benefits when they do.a

About Unum

Unum ([ www.unum.com ]) is one of the leading providers of employee benefits products and services in the United States and the United Kingdom. Through its subsidiaries, Unum Group paid approximately $6 billion in total benefits to customers in 2010.

Harris Interactive Survey Methodology

This survey was conducted online by Harris Interactive on behalf of Unum from December 6-8, 2010 among 1,712 adults 18 and older who are employed full- or part-time.

About Harris Interactive

[ Harris Interactive ] is one of the worlda™s leading custom market research firms, leveraging research, technology, and business acumen to transform relevant insight into actionable foresight. Serving clients in over 215 countries and territories through our North American, European, and Asian offices and a network of independent market research firms, Harris specializes in delivering research solutions that help us a" and our clients a" stay ahead of whata™s next. For more information, please visit [ www.harrisinteractive.com ].