For the purposes of this article, we’re discussing employees who earn over $100,000 annually. We’re using stats gathered by Aflac, to understand retention.
Productivity. Fifty-one percent say that their healthcare benefits are very or extremely important to their overall work productivity.
Retention. However,, 43 percent of these workers say they are “at least somewhat likely” to look for a new job in the coming year. How can you make them stay? Thirty-eight percent say that improving their health benefits package could make them want to stay at their current jobs.
Although this demographic does have health insurance, it’s possible that they don’t fully understand providers within the network tend to be confusing. Respondents overwhelmingly said that they would prefer more communication from employers regarding their benefits. Email was cited as the preferred method of communication (39 percent), with in-person meetings following closely behind (24 percent).
Voluntary insurance. Workers in this demographic expressed keen interest in voluntary insurance options,with 81 percent recognizing a growing need for extra insurance. Eighty-eight percent said that they view voluntary insurance products as a part of a good, comprehensive benefits package.
Other types of insurance. Since 87 percent of respondents reported that a benefits package is influential in helping them stay with their current employer, Aflac probed further to see which insurance benefits are most commonly offered.
- 92 percent of these workers were offered a major medical insurance policy
- 74 percent are offered life insurance
- 61 percent are offered disability insurance
- 26 percent are offered voluntary insurance
What can we learn from these stats? We already know that a comprehensive benefits package is one of the most important components of employee retention. But which benefits are most important? In the over-$100,000 earnings range, we can see that many workers are concerned with their voluntary insurance options. Meanwhile, most employers are not offering voluntary insurance packages to help lower that burden. So, while the vast majority of these workers do have health insurance, they aren’t necessarily fully satisfied with their benefits package.
For more information on health insurance, voluntary insurance, and promote a happier workplace for all.