Top tier communication makes a world of difference

Jinesh Patel, strategic relationship director - Workplace Investing at Fidelity, says its global benefits data suggests getting your offering right is just the start.

The Fidelity Global Sentiment Survey captures the views of more than 38,000 working adults across 35 markets. It helps explain why even well-designed benefits need the right employer advocacy and support.

Only three in five workers say they are fully aware of their benefits, which is a clear challenge. Then there is relevance. While one in five respondents cited affordability pressures, four in nine of those not taking up benefits say they don’t suit their needs.

Injecting some life

What stands out most in the data is how behaviour shifts when benefits are actively brought to life.

Our survey results from the Middle East are a good example. Employees there are almost twice as likely to take up new benefits (about 40% vs 21% globally), more likely to adjust existing ones, and far less likely to do nothing. They also place greater value on guidance, from onboarding to one-to-one manager support in explaining their options.

This leads to a simple but significant insight. Where benefits are visible, explained and supported, employees act. Where they aren’t, employees can default to inertia. And nowhere is that more important than with pensions, which should never be considered a ‘set and forget’ benefit.

More than a third of employees globally (36%) say they have made no changes to their benefits in the past year. For something like healthcare, that may matter less. Workers know they’re covered and may not engage beyond the initial check-up or looking at the policy excess if it’s something minor.

Retirement savings, on the other hand, can benefit hugely from more regular reviews. Personal circumstances change, and just a minor tweak to contributions or retirement age could have a major impact on quality of life after work thanks to compounding.

A world class partner can help

The findings highlight that successful benefits strategies rely on more than the benefits themselves. For sustained engagement you need clear communication, relevant support and an understanding of how employee needs evolve over time.

When you’re an organisation spanning multiple markets, this can be easier to achieve by partnering with a provider that offers both global perspective and local insight. By combining that expertise with a deep knowledge of their workforce and the most effective communication channels, employers can unlock the full value of benefits for everyone.