A comprehensive benefits package can give any business a competitive advantage. However, communicating the perks of these benefits to a global and dispersed workforce can be challenging. According to a recent report by Harvard Business Review Analytic Services on multinational businesses, almost 90 percent of surveyed business and HR leaders agree that employees' expectations regarding compensation and benefits packages are higher than ever. Many employers strive to meet these rising expectations to recruit and retain top talent, with over 80 percent of respondents indicating that they have enhanced their rewards packages in the past year.
Despite these efforts, nearly half of the respondents reported that their employees are unaware of the true value of their total compensation packages. The report highlighted that employers can bridge this communication gap by ensuring that employees know where to find detailed information about their plans online and understand whom to contact with questions.
However, the report also cautioned against overcommunication. When employees receive plan details through too many channels—such as emails, HR meetings, intranet websites, and messages from managers—it can result in information overload. The report suggests that developing a more focused and streamlined communication strategy and establishing regular check-ins can help manage this issue.
Being clear and specific in communications can also be beneficial. Many employees are unaware of how their company's benefits compare to those offered by other employers, but sharing these comparisons can enhance satisfaction with company benefits.
Mark Kelly, global head of benefits and well-being at Boston Consulting Group, recommends tailoring benefit explanations to the individual. Instead of focusing on the technical aspects of a program, it's more effective to talk about its relevance—what's in it for the employee and how they can make the best use of it, Kelly advised in the report.