More than 80% of organizations are planning to add or improve benefits over the next year to support employee recruitment and retention efforts. Wellness benefits, bonuses and emergency savings accounts are popular potential additions employers say they are considering adding to their benefits lineups.
Employee feedback will drive many of these decisions, often outweighing cost considerations, according to Lively's most recent employer benefits trend survey. Ease of use for employees is the most important factor when choosing a benefits provider and also the top area where providers fall short, survey respondents said. Four in 10 benefits leaders said employee complaints are the main catalyst for looking for a new provider. About 3 in 10 benefits leaders say their flexible benefits provider is not meeting expectations for ease of use and employee support, according to Lively.
About two-thirds of organizations plan to improve bonuses and base salaries, while about half plan to improve health care coverage, 401(k) matching, professional development, sick leave and paid time off, and about one-third plan to improve health savings accounts and emergency savings accounts, according to the survey.
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