Employers say it’s time to rethink employee benefits strategies.
In a recent survey from Willis Towers Watson, only 51% said they think their current benefits offerings adequately meet employee needs. More than two-thirds of employers (69%) say they plan to differentiate and customize benefits programs over the next two years.
“Amid the ongoing pandemic, employers are under increasing pressure to manage their benefit costs while at the same time finding new ways to support their employees’ overall wellbeing,” said Jennifer DeMeo, senior director, retirement, Willis Towers Watson. “Additionally, tight labor markets and a growing emphasis on DEI are causing employers to look at their benefit strategies in a new light. As a result, many are now planning actions to enhance their benefit programs to create a competitive advantage.”