Many companies heavily invest into a variety of benefits packages for their employees. However, our recent survey data indicated that organizations may not be achieving the expected return on investment from their benefit programs. And while HR leaders revealed plans to prioritize more personalized and effective programs, challenges such as inadequate employee communication tools and lack of benefits personalization capabilities persist.
Concerns about switching benefits administration vendors linger, and many worry about the complexity of implementation and potential employee confusion. The question remains: How can HR, compensation, and benefits leaders introduce more effective solutions that engage employees while controlling costs?
Read through our key findings from our recent survey with HR leaders across a variety of industries to learn more about what other organizations are experiencing, and how you can optimize your benefits approach to add more value to your company and employees.
According to our most recent data, organizations are equally focused on driving down overall spend and increasing engagement with their workforce. See the top six organizational priorities for next year and beyond below.
How your employees experience your benefit program effects their level of cost, engagement, and overall satisfaction in their elections. As you can see from this data, organizations are focused on creating a full, integrated one-stop shop to all benefits—in addition to providing frictionless support and educational materials to increase benefits understanding.
Every HR team experiences challenges from time to time—but with nearly half of our survey respondents saying that poor employee engagement and communications are a challenge for them, it’s clear that employees aren’t engaging in all the benefits available to them. View the top six challenges other organizations are experiencing below.
Changing benefits administration providers is no simple task. The biggest obstacle organizations say they face is implementation and onboarding hassles—in addition to confusion for employees as another significant concern.
According to the data below, HR leaders are focused on program costs, planning to increase employees’ use of available cost control and sharing choices. In addition to enhancing wellness plans, 42% stated they will be evaluating their current program and vendor to determine if changes are needed.
Out of all the employee point solutions available for adding added benefits to organizations programs, emotional health and navigation and advocacy came up second and third after wellness and health. An interesting note is that emotional health was reported to be just 3% below wellness and health, signifying an increased prioritization in organizations meeting both their employees emotional and physical needs.
According to the data from our Annual Enrollment Strategies survey results, HR professionals are focused on enhancing employee engagement with benefits to maximize their investment and deliver tangible returns. By improving communication about cost control choices and developing comprehensive wellness programs, benefits leaders aim to encourage employees to utilize the programs at their fingertips, leading to a healthier, more engaged workforce.
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