According to “The 2014 Guardian Workplace Benefits Study,” which examines employer benefits strategies and the value American workers place on their benefits packages which was conducted in September 2013 of 1,007 benefits plan sponsors (employers) and 1,407 benefit plan participants (employees) age 22 or older who work for a company with at least five employees, the average benefits value index (BVI), which is based on employee ratings of their companies’ benefits package and benefits communications, increased to 7.1 in 2013 from 6.8 in 2012. Each component of the index also recorded increases:
● Benefits meet personal needs (7.3 in 2013 vs. 7.0 in 2012)
● Benefits are affordable (7.2 vs. 6.9)
● Benefits program positively impacts personal health and wellness (7.0 vs. 6.9)
● Benefits program positively impacts personal financial security (7.0 vs. 6.8)
● Effectiveness of benefits communication (7.0 vs. 6.3)
The survey also observes a connection between health and the value employees place on benefits. Those who consider themselves to be in very good health or excellent health have a BVI score of 7.5, while those in fair or poor health score only 6.4. Likewise, employees who work for companies that offer wellness programs have a BVI score of 7.7, compared to a BVI score of 6.3 among those who are not offered such programs.