It’s tough to get personnel to participate in benefit programs that they don’t even know exist.
Seventy-one% of staff lack basic knowledge of standard benefit programs, according to a new study by the American Payroll Association (APA).
Low participation rates
The ASA research 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 –
• 52% don’t participate in available flex spending accounts (and 6% of had never even heard of an FSA)
• 17% didn’t know their business offered a health savings account or health reimbursement arrangement (46% of those conscious of the benefit still don’t participate), and
• 18% are unaware of existing transportation benefits or subsidies their company offers.
