John Brown
Member
A recent survey by Voya Financial revealed that 77% of respondents plan to spend more time re-evaluating their benefit elections during open enrollment - signaling a shift toward more intentional benefits decision-making.
Beyond that, the research shows a growing alignment between finances and well-being: 63% of Americans now agree that their financial stability directly impacts their mental health, up from 57% just two years ago.
Key Findings & Trends
Increased Attention to Benefits Elections
The proportion of employees who intend to allocate more time for benefits review rose from 69% last year to 77% this year. This suggests workers are becoming more deliberate in how they choose health, retirement, and other offerings.Mental Health & Financial Stability Connection
Voya's survey indicates that more workers see their personal finances as closely tied to mental and emotional well-being. As economic pressures persist, the role of benefits in supporting financial health is gaining prominence.Desire for Guided Tools & Education
The data also shows employees want help making decisions:- Nearly half say personalized benefit recommendations would boost their confidence during open enrollment.
- Many favor support via interactive calculators, one-on-one HR consultations, or decision support tools to navigate benefit options.
Retirement Readiness Remains a Concern
Only 55% of workers reported feeling “very” or “somewhat” prepared for retirement, highlighting a major gap in financial confidence and long-term planning.What This Means for Employers & HR
- Open Enrollment Becomes a Strategic Moment
As employees commit more time, employers have a stronger chance to influence choices, strengthen employee benefits value, and position benefits as central to well-being. - Need for Better Decision Support
Tools like benefit recommendation engines, cost comparison visuals, and risk/coverage illustrations can help employees make informed choices and reduce decision fatigue. - Communicate Year-Round, Not Just in October
The mindset toward benefits is evolving - education and engagement should be continuous, not limited to open enrollment windows. - Mental Health & Financial Wellness Programs Gain Relevance
With more employees linking finance and mental health, employers that integrate benefits communication with wellness support may see improved morale, retention, and productivity. - Tailor Messaging for Different Demographics
Younger workers, those with families, or workers close to retirement will have different priorities. Segmenting communications can make benefits more relevant and actionable.
Read related news - https://hrtech-news.com/ai-in-workday-drives-new-us-workday-deployments/