Finaccord’s Worksite Metrics
report about Australia offers detailed insights into the behaviour of employed consumers in the context of employee benefits and both financial and health-related wellness. It is based on a survey of over 1,000 consumers in Australia, carried out in the third quarter of 2019; 578 of these respondents were employed and, therefore, able to answer all of the questions in the survey.
In addition to measuring the proportion of employed consumers with access to various pension and insurance benefits at their place of work, the survey also gathers data concerning whether these benefits could be flexed, traded or made available to the employee’s spouse or partner. It also provides insights concerning the proportion of employed respondents who, at the time of the research, had access to a range of additional benefits designed to support employees’ financial, physical or emotional wellness.
Furthermore, the survey results indicate whether the availability of worksite benefits influences the decision of respondents to become employed by an organisation or to remain with it, whether they are satisfied with their worksite benefits, and how well employers communicate their worksite benefits and how this correlates to the satisfaction of respondents. Finally, it investigates whether employers have carried out any research with their employees in respect of what they would like to derive from their benefits and whether or not respondents have access to their benefits via an online portal or an online app.
Key features of the report include:
- reliable information that benchmarks the development of the employee benefits environment in Australia and how this varies by size and sector of employer;
- unique analyses of the satisfaction of employees with their benefits and how this differs in line with their gender, age and annual household income;
- valuable insights concerning how employers and their benefits consultants can potentially increase employee satisfaction in future through innovations such as flexing or trading of benefits, or providing access to benefits through online portals and / or mobile apps;
- accurate data describing the extent to which employers in Australia are considered by their staff to communicate benefits programs effectively and how that metric correlates with employee satisfaction;
- robust statistics in respect of whether pension and insurance benefits on offer are paid for solely by employers, solely by employees or by both employers and employees.
For further information about this research, please access the table of contents and series prospectus by clicking on the corresponding links to the left-hand side of this page, or e-mail [email protected]