Each year, employees make big financial decisions during benefits enrollment—contributing to retirement plans, selecting health coverage, and choosing ancillary benefits. But without meaningful employee benefits guidance, these choices can do more harm than good. A recent report from SAVVI Financial revealed a troubling trend:
- 37% of employees avoid thinking about their benefits altogether, saying it’s too overwhelming.
- 19% say their benefit decisions have caused financial stress.
- 72% are more concerned about their financial choices this year than last.
It’s clear that employees aren’t just confused—they’re quietly struggling. And when benefit decisions lead to stress, it impacts more than finances. Healthcare-related costs are delaying life milestones like buying a home or starting a family for many. Others are dipping into savings just to cover basic medical needs.
So how did we get here?
Education Is the Missing Link
Most companies already offer benefit guides, videos, or portals. But access to information doesn’t equal understanding. In fact:
- 1 in 5 employees still don’t fully grasp their healthcare options.
- 13% don’t know how much they’re contributing to their 401(k).
- 72% are more concerned about their financial choices this year than last.
It’s no wonder that 77% of employees stick with the same benefits each year without re-evaluating—or that a third simply pick the cheapest option. These decisions may feel safe in the moment, but they can create long-term financial consequences.
Technology Helps—but Human Guidance Still Matters
Digital tools like AI-driven benefits platforms show promise. According to SAVVI, 91% of employees who use these tools trust the information they receive. But even the smartest platform needs context—and context comes from advisors who understand both the workforce and the options available.
This is where PF Compass and Preferred Financial Partners step in.
We believe that benefits aren’t just about checkboxes—they’re about conversations. Our team works alongside employers to demystify the process for their employees. Whether it’s retirement planning, health insurance selection, or understanding voluntary benefits, we bring clarity through education.
Our approach blends smart technology with human touchpoints, helping employers:
- Reduce benefits-related stress among employees.
- Improve enrollment outcomes.
- Align offerings with what employees truly need (and understand).
- Support retention, engagement, and financial wellness.
A Collaborative Employee Benefits Guidance Model That Works
As sister companies, PF Compass and Preferred Financial Partners offer a full-spectrum advisory model that integrates group benefits, retirement services, and strategic planning. That means we’re not just solving one piece of the puzzle—we’re looking at the whole picture. We guide HR teams through plan selection, compliance, and communication. Then we support employees directly with workshops, 1-on-1 support, and year-round resources that empower them to make better choices. Because when employees understand their benefits, they use them more effectively. And when they use them wisely, everyone wins.
Final Thoughts
If you’re an employer who’s relying on PDFs and portals to guide your employees, it might be time to rethink your approach. The cost of inaction isn’t just financial—it’s cultural. Benefits are one of your biggest investments in your people. Let’s make sure they’re making the most of them.
Want to learn how PF Compass and Preferred Financial Partners can help your organization build a better benefits experience?
Let’s talk. We’re here to educate, support, and simplify the complex—together.
Brian Honan | Partner
PF Compass Employer Guidance & Benefit Solutions
440 Route 22, E., Suite 190
Bridgewater, NJ 08807
Tel (973) 732-0697
