An employee benefits survey gives organizations a direct line into what their workforce actually values, rather than relying on assumptions or industry benchmarks alone. It helps identify gaps between what’s offered and what employees need — whether that’s retirement support, healthcare coverage, mental health resources, or flexible work options — so benefits dollars get spent where they matter most. Beyond the data itself, running a survey signals to employees that their feedback shapes real decisions, which can boost engagement and trust.
That played out firsthand at a recent TPSU program held at Broadridge’s NYC offices, where Victoria, an HR Associate at an organization of about 100 employees, shared how an anonymous benefits survey reshaped their medical plan. With strong employee participation, the survey gave her team direct insight into what was working, what wasn’t, and where changes were needed. The result was meaningful updates to the plan itself, including changes to deductibles and copays, changes Victoria says employees have responded to positively over the past two years. Her next focus: the organization’s 403(b) plan, including a look at automatic enrollment and a review of their current retirement plan advisor relationship.
Read the Full Transcript Here:
Fred Barstein:
Greetings! I’m Fred Barstein, CEO and Founder of The Plan Sponsor University. We just wrapped up a program here in Manhattan at Broadridge’s offices on 40th Street and 3rd Avenue.
I’m joined by Victoria. Welcome!
Victoria:
Hi, thank you.
Fred:
Would it be okay if I asked you a few questions?
Victoria:
Absolutely.
Fred:
Great. First, tell us a little about yourself and your organization.
Victoria:
Sure. My name is Victoria, and I work for an organization with about 100 employees. I’m the HR Associate.
Fred:
One thing you shared today that I thought was really interesting was the employee benefits survey your organization conducted. It wasn’t specifically about retirement benefits, but it had a big impact. Tell us about that.
Victoria:
Our benefits broker suggested surveying our employees because we’d had the same broker and benefit plans for several years, but we’d never actually asked employees what was working for them and what wasn’t.
We were considering making changes to our benefits, but we didn’t want to make decisions without input. So we created an anonymous survey for all of our employees.
Fred:
How did it go?
Victoria:
It went really well. We had about a 75% participation rate, which was fantastic for our organization.
The survey included about 20 questions asking employees which benefits they used, why they valued them, what they liked, what they didn’t like, and what improvements they’d like to see.
The feedback led us to make significant changes to our medical plan. We switched plans, adjusted deductibles, and lowered copays after learning employees were unhappy with the high out-of-pocket costs.
We’ve now had those changes in place for about two years, and the feedback has been overwhelmingly positive.
Fred:
So retirement is next?
Victoria:
Exactly. That’s our next focus.
Fred:
Congratulations on taking that first step.
One last question. This was your first TPSU program, correct?
Victoria:
Yes, it was.
Fred:
What were some of your biggest takeaways, and would you recommend the program?
Victoria:
Absolutely. I learned a lot today.
I only took over responsibility for our 403(b) plan a couple of years ago after our HR manager retired, so I’ve been learning as I go.
One thing I took away is that we should seriously consider automatic enrollment. Right now, employees contribute on their own, and we don’t offer a matching contribution, so that’s something we’re evaluating.
We’re also going to review our relationship with our retirement plan advisor. We’ve been with the same advisor for about seven years, so it’s probably time to revisit the market.
I would definitely recommend TPSU. It was a very informative program.
Fred:
Seven years is about the right time to take another look.
Victoria, thank you so much for joining us.
Victoria:
Thank you.
Fred:
And thank you for watching 401(k)TV. We’ll see you next time.
