Those of us interested in managing our health are used to this phenomenon.
Different results are the norm in health care, as evidenced by the following recent findings.
- Mammograms add little benefit and may do more harm than good
- Mammograms are beneficial for younger women
Now, we have two reports quantifying employees’ value of their workplace benefits.
Yet another example of contrasting findings.
So, which do you believe?
The Value of Employee Benefits: The Rise and Fall
Perception is everything. What that perception is appears debatable.
- The Mercer Workplace Study is the frowning face on employee benefits
- The Guardian 2014 Workplace Benefits Study paints a little rosier picture
The Mercer Study
The above statistics reflect the view of respondents age 50 and under. The shift to greater out-of-pocket costs for employees is one major factor in the drop in perceived value.
Most respondents (93 percent) rated employee benefits as important as their salary. So, the significant dip warrants attention for recruiting and retention purposes.
The Guardian Study
This survey also validated the value of employee benefits to workers.
Seventy-nine percent rated benefits as crucial for staying with their current employer. The report goes on to say that every component measured showed an increase, including the following.
- Believe employee benefits meet personal needs
- Think they are affordable
- Benefits have a positive impact on health, wellness, financial security
- Benefits are well-communicated by employers
Calm Before the Storm?
Both reports recognize health reform’s Affordable Care Act (ACA) is the “elephant in the room” (as the Mercer Study describes it).
Employers and workers alike are not sure about the full ACA implications.
- Is this the calm before the storm?
- Or will we be able to ride it out to higher ground?
That could depend on which you want to believe.
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Notice of Disclaimer –Cathy Miller is not an attorney or health care provider and cannot provide legal or health care advice. The information provided is for your general background only, and is not intended to constitute legal or health care advice as to your specific circumstances. We recommend you review legislation with legal counsel and visit your physician for health care issues.