The complexity of the U.S. healthcare system is only one reason it is more important than ever for workers and employers to have a proper handle on workplace benefits. In a rapid-changing labor market, coupled with shifting employee expectations, the right benefits package can be a big motivator for workers, and a draw for highly qualified job applicants.
However, a new report suggests that many employers may not be adequately explaining their companies’ benefits to their employees. It's a wakeup call for business onwers to drag their communications into the 21st century and educate people versus the social media platform that are the source of most of their online information.
According to a new survey from New York-based financial services outfit Equitable, younger members of the workforce are turning to online sources and social media to help them properly understand the workplace benefits they’re offered. You might think "great! Job done... less effort for the HR team!" but the data shows otherwise: Some 40 percent of the 1,000 people Equitable surveyed said they didn’t feel confident in understanding the voluntary benefits their employer offered. And while the data show 55 percent of all workers "still rely on HR materials and information sessions from employers to understand their workplace benefits," 37 percent of Gen-Z have used social platforms like TikTok, Instagram, Reddit and even YouTube (that great source of "how to" videos) to seek out benefits information — the highest percentage of any generation responding to the survey. Meanwhile, Millennials lead the age groups who use AI for the same info: Fully 30 percent say they have used AI like this.
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