Analytics, Employment, EU – Baltic States, Latvia, Markets and Companies

The head of Aon Baltic’s employee motivation and insurance program, Olga Condorfa, points out: "Latvian companies who are satisfied with the benefits and advantages of communication, are all united by the following characteristics: they communicate on a regular basis, and 56% point out that communication takes place several times a year; the main aim of this communication – to hold onto their most valuable employees; communication from their direct superiors is the most preferred form of communication – 65% of those surveyed used this form of communication; and 65% are confident that success will be guaranteed depending on how frequently heightened benefits/privileges communication is apparent.

Similar results have been observed in the entire EMEA region. Those companies satisfied with the impact of communication regarding employee benefits and privileges answered that they communicate regularly – 48% stated that they communicate several times a year. The main aim of this in the region as a whole is to improve the level of employee involvement and hold on to talented employees. Direct communication is the most frequently used method to inform employees about available benefits and privileges.

The main conclusions from Latvian companies participating in the Benefits and Privileges in Corporate Communication 2015 study are:

- 92% LV/ 73% of EMEA companies communicate about available benefits and privileges to employees; the rest intend to do so

- 23% LV/ 43% of EMEA respondents think that employees do not completely understand the benefits available to them

- 87% LV/ 90% of EMEA companies use internal resources for communicating benefits and privileges

- 23% LV/ 44% of EMEA companies have budgets set aside for ensuring communication on benefits

- Primary objectives in benefits/privileges communication in Latvia: 1) ensuring talented employees stay put, and do not search for greener pastures; 2) increasing employee involvement; 3) be a socially conscious and transparent enterprise. In the EMEA region:  1) raising level of employee involvement; 2)  sustaining (holding on to) talented employees; 3) meeting legal norms and requirements.

- As additional channels of communication, Latvia plans to implement (in a number of enterprises) staff handbooks and notifications about collective responsibility. And in the EMEA region, specialized online portals, notifications about collective responsibility, and wider use of social media. A significant number of regional companies noted that the future holds a switch from direct communication as the primary method, to specialized benefit/privilege online portals.

The complete package of benefits and privileges that companies offer employees is a serious financial investment that management utilizes to hold on to their most talented and valuable staff members, and lure in new ranks, raising the overall level of  their involvement.