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:
- Make poor election decisions, driving up benefit costs
- Access benefits information in the most costly way possible – through calls to your human resources staff and call center
- Be less satisfied with their compensation and more likely to leave
Benefits communications is a critical tool for managing costs in this environment. Our offerings are targeted at improving the failing rates of benefits understanding among employees today to help employers realize the full value of their considerable investments in benefits. We move far beyond the standard fare of thick benefits handbooks to provide a comprehensive curriculum of engaging multimedia education for today’s employee. By providing more modern and more effective benefits communications, employers can cut the cost of benefits, while motivating and retaining employees.
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