Voluntary Benefits

More employers — 62% compared to 44% two years ago — plan to make changes in the next 12–18 months.

63% of American workers say they're likely to participate in voluntary benefits from their employer.

With an average projected wage increase of 3.9%, employers are shifting focus toward employee well-being and taking a total rewards approach by adding benefits, says a new study.

As a benefits professional, you are in a position to help employers attract and retain employees. They need help in telling the story of their benefits package in as compelling a way as possible.

What inventive benefit packages can you offer clients to help employees address these challenges and, more importantly, regain their financial footing?

Employees have various preferred ways of being contacted, and that a multi-faceted campaign should be conducted to most effectively communicate and educate about benefit choices.

According to the Lattice 2023 State of People Strategy Report, finds that though recruiting was professionals' #2 priority last year, it dropped to 8th place this year.

Since 60% of employees struggle to use all their paid time off, companies can repurpose it into other benefits employees want (HSAs or student loan payments), create employee emergency funds, or provide early wage access.