You know the advantages of offering benefits to your employees, but are you maximizing their value? Benefit Statements Can Help!
On average, an employer spends about 41 cents on benefits for every dollar they spend on payroll. Research shows that employees only understand and appreciate between 31 and 68 percent of the costs associated with the benefits they receive.
We here at myBenefitStatements are committed to making sure every dollar you spend on employee benefits is understood and appreciated. Our total compensation statements show employees the real value of their pay and benefits package. Show how much you value your employees through the investment you make in their benefits; call us today!
The ability to retain talent is one of the many advantages to offering benefits in the first place, and there’s a strong connection between employee satisfaction with benefits and retention. According to a study conducted by Research Now, workers who indicated they are extremely or very satisfied with their benefits are six times more likely to stay with their employer.
What does the research say about benefits communications?
The same study found a connection between the frequency of benefits communication and the likelihood an employee will leave their job. Research Now gathered data from employees regarding how likely they were to leave their jobs in the next 12 months. The study found that out of the employees who stated their employer communicates about benefits only at open enrollment or new hire enrollment, 65 percent said they were extremely or very likely to leave their jobs in the next twelve months. That number drops dramatically to only 18 percent if the employer communicates their benefits just two times throughout the year. That number continues to drop as the frequency of communication increases. 
– Aflac Executive Summary
In addition to retention, there are other great reasons to communicate through employee benefit statements. Not only do employee benefit statements increase the perceived value of the benefits to the employee, they can drive participation and foster a company-wide sense of trust. We will also mail them to home addresses at your request so family members have an opportunity to see and appreciate the total compensation package. Employee benefit statements can also encourage participation in benefit programs by communicating the value they can offer. Using employee benefit statements is a great way to market your benefits to employees. We will personalize each employee benefit statement to include language they can understand, information that is meaningful and relevant to them, and charts and graphs that enhance understanding of the data. Don’t just tell them, show them!
 Holtom, B. (2012). Getting the best benefit from your employee benefits? About.com Human Resources.
 (2012). Bringing benefits to bear for business performance & profitability. Aflac workforces report, 4-5.
 (2012). Why do workers leave? Insight into who decides to quit and reasons behind why they do. Aflac Viewpoint, 8-9.
 (2012). Bringing benefits to bear for business performance & profitability. Aflac workforces report, 28-29.