Number of the day: benefits value
84: Percentage of employees who say they value the insurance benefits their company offers to them
The vast majority of employees say they value the insurance benefits their company offers to them, according to new research from The Hartford, representing a positive shift in employee attitudes about benefits. That number is up from 73% in June 2020 and 80% in March 2020. The benefits provider’s survey also finds that 69% of employees now say they trust their company is making the best decisions about the benefits they make available, which is up from 55% in June 2020 and 61% in March 2020.
What it means to HR leaders
The new data reiterates the growing importance and value of benefits during COVID-19. Smart organizations have turned to programs and benefits offerings as their No. 1 COVID-19 response in an effort to help employees during the most stressful time of their lives. And in turn, a growing number of employees have turned to their employer for help in staying productive, healthy and calm—and workers have relied on their benefits in the process.
“Faced with unexpected situations, some Americans relied on their benefits for the first time this past year,” says Jonathan Bennett, head of group benefits at the Hartford. “In doing so, many came to realize the full magnitude of the importance of benefits and the peace of mind they provide. These bedrock benefits, which are now being viewed as more relevant since the onset of the pandemic, are the foundation for how employers care for their workforce and help employees protect their paycheck when faced with unexpected circumstances.”
Bennett, along with Katie Dunnington, the company’s head of absence management, will be discussing these findings in-depth at HRE’s Health & Benefits Leadership Conference. The virtual event runs May 11-13 and is free for attendees. To register, click here.