How to Boost the Perceived Value of Your Employee Benefits

Do you know what your employees really think about their benefits? While you keep track of benefit enrollment and participation trends, you might not know how valuable they actually are (or aren’t) to your workforce. Your employees’ perception of their benefits is becoming more important because it impacts your ability to attract and retain top talent—the employees who make the biggest impact to your company’s performance.

If you think about it, your benefits are a significant part of your employer brand. The benefits you provide are connected to employee satisfaction and loyalty, not to mention their health and productivity. Even if you’ve spent a lot of money on a great benefits package, if your employees don’t see it that way, they could move on.

Securing your investment

Your benefits spend is probably on the rise. Or, at the very least, you may be allocating your budgets differently than you did just a few years ago. A recent Willis Towers Watson analysis of employer trends in benefit costs found that active health care costs as a percentage of average employee pay doubled between 2001 and 2015, rising from 5.7% to 11.5% of pay1. This is a significant increase—and it’s important that your employees, the recipients of this investment, see the value in how you’re spending your employee benefit dollars.

How can you be sure that you are making the most of your investment? And what can you do to boost your employees’ perception of your offerings? Here are some best practices to consider:

Consider voluntary benefits to ease financial worries

What benefits do your employees want and expect? Let’s turn to insights from the Willis Tower Watson study1:

  • 41% of respondents say they often worry about their current finances.
  • 60% say their health care and retirement benefits meet their needs.
  • Employees of all generations would allocate about 1/4 of their benefit dollars to those benefits that provide protections for employees’ wealth/income and those that offer medical protections, such as critical illness and accident insurance.

Employers have the opportunity to step in and help employees manage their money and protect their health and healthcare dollars. While employees seem generally satisfied with their core major medical and retirement programs, there’s room for supplemental, or voluntary, benefits that fill the gap. 

Employees may see more value in their benefits package when they see its financial impact. This is why supplemental lines of insurance can be powerful. They help meet healthcare and financial needs, as an unexpected accident or illness can quickly deplete their savings.

About Combined Insurance
Combined Insurance Company of America (Chicago, Ill.) is a leading provider of supplemental accident, disability, health, and life insurance products and a Chubb company. With a tradition of nearly 100 years of success, Combined Insurance is committed to making the world of supplemental insurance easy to understand. The company has an A+ rating by the Better Business Bureau and is one of Ward’s Top 50® Performing Life-Health Insurance Companies. Combined Insurance is also a 2017 Top 10 Military Friendly® Employer named by G.I. Jobs Magazine—marking the fifth consecutive year on the Top 10 employer list and third consecutive year in the Top 5. In New York, products are underwritten by Combined Life Insurance Company of New York (Latham, N.Y.) For more information, please visit


1 “Shifts in benefit allocations among U.S. employers.” Willis Towers Watson, opens in a new windowLink opens in a new window.