Employers build benefits packages with the best of intentions, but too many options or the wrong ones altogether can frustrate employees and drain company resources.
Nearly half of employees said they are confused by parts of their benefits plans in a recent survey by MetLife, while other studies place the number as high as 85%. An overwhelming amount of options is an issue for some, but 53% cite a lack of communication from employers, according to financial services company LIMRA. For others, the frustration lies in not having access to the benefits they need: The Employee Benefits Research Institute found that almost 20% of employees would go as far as taking a lower wage in exchange for more comprehensive healthcare offerings.
