Today, GuideSpark announced two core products focused on the issues of corporate benefits education and employee financial wellness. Over the last 18 months, we’ve had a chance to meet with many employers – from small businesses to large enterprises, from Silicon Valley technology companies to retail chains to government organizations. Not surprisingly, each of these employers carries a similar burden – how to reduce the cost of benefits while continuing to offer a competitive compensation package.
While many HR professionals concede that their employees have a poor understanding of their benefits package, most underestimate the impact of this situation on their bottom line. Employees who don’t understand their benefits are more likely to: