The Unum survey showed that despite evidence of the importance of quality benefits education for employees, there remains a sizeable gap in knowledge. Employees reported the highest understanding of life and vision insurance, but less than two-thirds of respondents said they understand other benefits.

With respect to disability insurance, a large number of employees with access to disability benefits said they are not receiving disability-specific materials or explanations. Those who had disability insurance explained to them reported a much greater understanding of how disability benefits would be useful for them, and felt better prepared to make decisions about these benefits.

While employers clearly need to step up to the challenge of providing increased benefits communication to their workforce, they may be ill-prepared or unable to handle this task. Smaller companies, especially, are probably least equipped to take on additional benefits responsibilities due to limited time and resources. Some may not even have a benefits manager on staff. Fortunately there is a solution that can help everyone involved in benefits management today — brokers playing a key role.

New opportunities for brokers

Now, more than ever, brokers need to develop a different relationship with their employer clients, a partnership in which they can provide the benefits counsel and support companies need. In the past, brokers have been instrumental in advising about the selection and design of benefits programs based on workplace demographics. But today's climate demands that they go beyond this role to offer comprehensive administration and communication assistance for employers who may not have these capabilities.

Employers have a vested interest in making this happen. Results from the survey have consistently shown that when they offer important benefits such as disability and other financial protection insurance and communicate the value of these benefits as clearly as possible, employees rate their benefits package positively. The result is a brighter financial outlook — and more satisfaction with their employer. Moreover, implementing effective employee benefit education programs could also help employers attract and retain valuable workers by differentiating their benefits package from the rest.

A chance to grow

Although some brokers may be intimidated by stepping into uncharted benefits territory, for others it's an opportunity to expand their business and their own knowledge and experience. Many brokers, for example, already utilize third-party vendors for benefits communication, administration and enrollment, all of whomcan be excellent resources.

Those who can tap into these relationships will have an edge in selling to their customers. In addition, brokers who are looking to go beyond business-as-usual may also want to consider taking additional steps for their business, such as building infrastructure, hiring more associates or even getting more training.

One area in which brokers can develop personal expertise is the voluntary supplemental benefits market. Many brokers have already embraced these coverages, but others have been slow to incorporate them into their clients' benefits packages. In fact, just five years ago voluntary benefits were at most, a sub-specialty area for many brokers.

Now, however, voluntary benefits have become increasingly attractive as a mainstream benefits option, enabling employers to expand their offerings without increasing their budget significantly. At the same time, voluntary benefits give employees the chance to pick and choose those benefits that make the most sense for them and their families and purchase them at an affordable price.

Providing more access

Brokers should also be aware that a key trend uncovered in the 2013 survey was that access to important benefits continues to be limited for some groups of workers, with women and younger workers — those between the ages of 18 and 34 — reporting lower levels of access to many benefits. The youngest employees also reported lower levels of benefits understanding than older workers. Brokers can use these insights to help their clients offer a more balanced benefits program using supplemental coverages that will appeal to all employees. In addition, brokers have the opportunity to help clients tailor benefits communication based on the lifestyle and income levels of an employer's workforce. 

One quickly emerging approach, driven in part by PPACA and the development of private exchanges, is for brokers to propose that employers adopt a "defined contribution" approach, funding all workers at the same level and letting them choose the benefits that are right for them.

Clearly, providing different benefits for the differing needs of employees — and then partnering to communicate the value of these benefits — is an effective strategy for brokers to help their employer clients in today's challenging benefits environment.

Jeff Montag is vice president and and managing director at Unum.

Also read:

• Top 5 selling voluntary products
• Voluntary picture becomes clear