It’s no surprise that good, happy workplaces can result in employee satisfaction, engagement and loyalty. But good benefits plans can also play a role, as results from the 2007 sanofi-aventis Healthcare Survey, presented today in Toronto, indicate.
Other than salary, survey respondents defined a “good job” as being treated well by an organization(96%), having supportive co-workers(94%), trusting co-workers(93%), having competent management(92%)and having a good benefits package(91%).
“The quality of the plan and the quality of the job are linked,” said Chris Bonnett, president of H3 Consulting and an advisory board member of The sanofi-aventis Healthcare Survey. “Benefits are serving as a proxy or a marker for a good workplace.”
In addition, employees are aware of their benefits plans’ value and cost. Seventy-eight per cent of those surveyed think they have a responsibility to help control costs, suggesting a shift in mindset from “entitlement” to “healthcare consumer.” “Employees are taking ownership of their plans,” said Bonnett. “They’re willing to take a reasonable share of the cost.” In fact, 62% would be willing to pay personally for critical illness insurance and 59% for additional prescription drug coverage.
With health benefits lingering in the minds of employees(and with the looming labour shortage)employers may be wise to consider benefits plans post-retirement in order to retain workers. According to respondents age 55 and over, 65% would likely remain at their job or return post-retirement if they were offered a prescription drug plan that continued after they retire. And to attract new employees? Respondents under age 55 indicated that post-retirement health benefits — drugs(68%)and dental(63%)— would be a factor in considering a job change.
Clearly, with statistics like these, employers should continue to communicate their health benefits plans’ value(including coverage, cost and plan management issues). They should also assess the needs and preferences for voluntary coverage and access to post-retirement benefits.
To comment on this story email brooke.smith@rci.rogers.com.