In the last two employer assessment surveys we conducted for medium-sized businesses (both since the recession started) - both employers were ranked very low by their employees with the statement "I know what my benefits are". In addition, employees felt their benefits package was inferior.
One way small businesses can manage those issues (which go directly to morale and performance) is to communicate precisely what those benefits are worth to each employee. In fact, we're designing those communications for those clients right now.
The best communication tool I've seen in this area in a long time comes from Jessica Lee, an HR executive with APCO Worldwide, and blogger at Fistful of Talent and now her own blog.
Take a look how she designed the compensation summary - it's clear, concise, and communicates not only what is included in the employee's benefits package but the dollar value on what it costs the company.