With warnings about recession and inflation on the horizon, and the costs of health care continuing to rise, one might expect employers to batten down the hatches by cutting costs in the area of benefits.
However, the post-pandemic world may turn out to be more complicated than anyone could've predicted in 2020. New employee demands for mental health and financial planning benefits, along with the ongoing impacts of a tight labor market, have many employers looking at offering more, not less, when it comes to benefits.
Cost containment will have to come from finding new efficiencies, with an emphasis on prevention, many benefits professionals say. Another option is cutting future costs by ensuring they don't happen in the first place.
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