Things Have Changed
At the end of 2019, on almost all fronts life looked very different than it does today. Going into 2020 annual enrollment, people were feeling optimistic. With a tight and fluid labor market, HR pros focused their energy and expertise on recruitment and retention. However, not everyone was enjoying was seemed like widespread prosperity.
The pandemic introduced a new level of complexity to benefits decisions. Things have certainly changed, but the findings in this report offer employers a unique baseline against which the upcoming annual enrollment can ultimately be measured. In this report, we provide a unique snapshot of what employees were thinking and where they were financially at the end of 2019.
This was during a time of economic prosperity and relative certainty compared to today. Going forward, it offers important insights into how that pre-pandemic state of mind and people’s financial position may color their benefit choices for this year’s Annual Enrollment season, and it can help employers better prepare for how to conceptualize and deliver benefits options for 2021.