As a benefits broker or consultant, you help your employer groups for the better half of a year (or more) prepare for a successful Open Enrollment (OE). While success varies from company to company whether it be increased enrollment rates, decreased questions with HR, or optimized benefits spending, the question that remains constant across organizations is “How satisfied were my employees with the OE process and benefits offered?”
That's where benefits surveys come in!
Empower your clients to ask the right questions with these fundamentals of employee benefits surveys and make sure to grab your ready-to-use benefits survey template at the end of this blog post.
Surveying your employees to determine what they feel about a company’s benefits offerings and processes is important for numerous reasons.
A happy workforce makes for a productive, happy company. Studies show that employees who feel their employer cares about their well-being are:
Aside from the apparent productivity impact, employee benefits surveys can help at the organizational level.
1. Attracting Top Talent: 64% of employees say that an employer's benefits package is a top consideration when applying for a new job, while 69% would choose one job over another if it offered better perks.
2. Boosting Retention: Employee turnover costs a company more than just money. It negatively impacts employee morale, leading to low productivity and a tainted reputation. If employees are happy with the benefits the company offers, they're likely to be more satisfied in their jobs and want to stick around long-term.
3. Improving Satisfaction and Engagement: Demonstrating you care about employees’ work-life balance is key to making them feel valued and supported. In turn, you’ll have a more engaged and productive workforce.
4. Preventing Misplaced Investments: Understanding what benefits are meaningful to employees can improve an organization’s benefits allocation to help invest in what can benefit them in the long run.
Using a mix of questions aligned to HR goals and/or recent updates to your benefits portfolio plays a critical role in gaining helpful insights. Bear in mind that the more complex and lengthier the questionnaire is, the greater the risk that participants won't complete it.
Here are a few categories to consider when developing your survey questions:
Conducting employee benefits surveys informs organizations about workforce needs and preferences, enabling them to attract talent, retain employees, improve satisfaction, and allocate resources wisely.
Jumpstart your clients' ability to deploy an employee benefits survey by downloading this ready-to-share survey template. It includes best-practice questions, answers, and three key tips for successful post-OE survey administration.
