Staff Member Benefit Participation
It’s tough to get workers to participate in benefit programs that they don’t even know exist.
Seventy-one% of personnel lack basic knowledge of standard benefit programs, as reported by a new study by the American Payroll Association (APA).
Low participation rates
The ASA study focused on personnel knowledge of their company’s pre-tax benefits. While nearly three quarters of personnel say they live paycheck to paycheck, and would like to stretch their current salaries -
o 52 percent don’t participate in available flex spending accounts (and 6 percent of had never even heard of an FSA)
o 17% didn’t know their business offered a health savings account or health reimbursement arrangement (46% of those alert to the benefit still don’t participate), and
o 18 percent are unaware of existing transportation benefits or subsidies their organization offers.