Two-thirds of employees spend less than an hour learning about their benefits. No wonder they're so dissatisfied. (Photo: Shutterstock)
Haste makes waste.
It turns out the old saying is true in an area you might not expect: employee benefits. A new Colonial Life study finds that employees who rush through education data on their benefits packages at enrollment time—both failing to understand what's on offer and not taking the time to really investigate their choices—are more likely to quit in the coming year.
Survey responses indicate that not only do 33 percent of workers spend less than 30 minutes on choosing benefits during enrollment, another 36 percent only spend 30 to 60 minutes learning about the choices on offer to them.
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Marlene Satter
Marlene Y. Satter has worked in and written about the financial industry for decades.
