While 70 per cent of benefits-eligible U.S. workers said they’re more likely to work for an employer that offers employee-paid voluntary benefits, just 49 per cent said they’ve taken advantage of these offerings, according to a new survey by Voya Financial Inc.
The survey, which polled around 1,000 respondents, found 31 per cent don’t fully understand any of the employee benefits they selected during their most recent enrolment period. Among millennials, 78 per cent said they’re more likely to work for an employer that offers coverage such as critical illness, hospital indemnity, disability income and accident insurance, but only 49 per cent said they enrolled in these types of coverages.
Read: An employer’s guide to curating a suite of voluntary benefits
In a press release, Andrew Frend, senior vice-president of strategy and product at Voya Health Solutions, said a previous survey found 73 per cent of respondents are interested in support and guidance tools that help them understand how much money to put aside for retirement, emergency savings and health-care expenses.