Communicate to Retain and Engage Employees
Communication is key to keeping your employees engaged and productive. According to a recent Research Now survey, two of the top three challenges HR faces today are increasing worker productivity and retaining employees (the first being managing health care costs).
With the uncertain impact of Health Care Reform, continued slow economic growth, the general decline of employee loyalty and other factors, keeping employees job-focused and energized—rather than looking for greener pastures at another company—is more difficult to do, but critically important for organizations to achieve their goals.
Through communication, you can increase employees’ sense of well-being and value, while reducing personal concerns about health care costs, ability to retire and financial stability. The high level message to your employees is that your organization is committed to providing a competitive level of financial security through your benefits programs. To support this statement, you need to ensure that employees know what benefits they have, how those benefits work and ways employees can maximize their value.
There is plenty of opportunity to enhance benefits communication, according to the Research Now survey. Only 38% of employee respondents believe that HR communicates effectively about benefits, and 45% said that HR does not communicate enough about benefits.
Also, keep this figure in mind: 44% of employees surveyed said a well-communicated benefits program would make them less likely to leave their organization.
So be sure to consider the cost of recruiting, training and lost productivity when making decisions about your investment in benefit communications.