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How Smaller Employers Can Use Voluntary Benefits to Create a Competitive Advantage

24 pages. Excerpt: Research from Colonial Life shows the top three most frequently offered voluntary benefits by small businesses are short-term disability, long-term disability and supplemental life.

Well on the Way: Engaging Employees in Workplace Wellness

"Engagement -- the holy grail of worksite wellness program success -- begins with clear communication of program benefits and incentives for participation.... But a recent Colonial Life survey found that nearly 10 percent of employees reported having little or no understanding of their benefits packages. And slightly more than half of the employees whose employers offered wellness programs said they were only somewhat or not at all knowledgeable about them."

Millennials Come of Age (PDF)

"The first step in reimagining the 21st century workplace with millennials at the center may be to change how we position benefits from the start. Insurance -- whether health and dental or life and disability -- has long been considered a vital tool to protect America's workers and their families from negative events that impact all of us. This thinking needs to evolve. For millennials, being healthy doesn't just mean not feeling sick. It's a commitment to ongoing healthy eating habits and exercise and avoiding activities that can be viewed as damaging."

Build Voluntary Benefits into Workplace Strategies to Attract, Engage and Retain Generation Y

Total rewards packages that incorporate voluntary benefits will play a key role in not only giving Gen Y workers the flexibility to balance work and life, but also the ability to build more financial security for them and their families. In addition, effective education and communication efforts will be critical components in helping Gen Y workers understand and appreciate the true value of voluntary benefits.

Every Generation Agrees: Humans -- Not the Internet -- Are Top Source for Open Enrollment Information About Benefits

"[J]ust 11% of employees name the Internet as the place they turn to learn about benefits at enrollment season each year. That number falls to just 10% of Millennials and 7% of Generation Z workers."

Smallest Businesses Lead the Way with Personalized Benefits Education

"47% of employees who work for companies with fewer than 100 employees report understanding their benefits 'very well.' ... Only 33% of employees who have more than 100 coworkers report understanding their benefits that well.... Nearly 25% of employees at the smallest businesses say individual meetings with benefits experts are available to them, compared to just 14% at employers with more than 100 workers. And 37% of the smallest employers have group meetings with HR professionals to discuss benefits, compared to just 29% of larger employers."

Employees at Very Small Firms Give Poor Ratings to Their Benefits

"Only 25 percent of employees at very small companies who are offered benefits rate their benefits as excellent or very good, compared with 58 percent of employees at large companies.... Less than two-thirds (62 percent) of employees at very small companies who are offered benefits report a good understanding of their benefits, well below the 80 percent reported by workers at large firms.... Just over half (55 percent) of very small business workers who are offered benefits agree they highly value the insurance benefits provided by their employer, compared to 70 percent at large firms."

Control Health Benefit Costs with Voluntary Coverage (PDF)

"Reluctant to stop offering benefits such as health insurance, many employers have turned to cost-sharing to keep premiums down. But this strategy is putting many of America's workers in serious financial jeopardy.... One solution to this seeming conundrum is offering your employees voluntary benefit plans designed to help bridge their financial exposure. Products such as hospital confinement indemnity plans can help offset the cost of hospitalization and some of the most common out-of-pocket expenses associated with a hospital stay. Some plans also offer additional coverage for health screenings, outpatient surgery and diagnostic procedures."

Using Consumer Behavior to Create a More Effective Benefits Enrollment (PDF)

16 pages. "The value of choice in benefits selection becomes a factor when examining the differences between age cohorts and other demographics currently comprising the workforce. Although one size does not fit all even within a generation, benefits choices that acknowledge the different needs and desires of employees across ages and cultures are more likely to produce the range of options and benefits education channels that appeal to most workers. However, increased personalization brings with it increased complexity."

The Public Sector Lags Behind Private Employers in Short-Term Disability Benefits (PDF)

"Although disability coverage is considered a staple in most employee benefits packages, research shows state and local government employees have more limited access to disability insurance than the private sector. The Bureau of Labor Statistics reports only 23% of state and local government workers have access to short-term disability insurance. Yet 39% of employers in private industry offer this coverage to their employees. Why the discrepancy?"