Key Findings
Employee feedback and experience with benefits drives benefits leaders' decision making.
81% of organizations are adding or improving benefits in the next year to support employee recruitment and retention.
The most common benefits companies are adding in the next year are wellness benefits, bonuses, and Emergency Savings Accounts, with one-in-four organizations planning to add one or more of these benefits.
A superior employee experience is key to choosing and staying with a benefits provider.
Employee feedback and complaints are the top reasons benefits leaders decide to renew with or switch benefits providers and about one-in-four benefits leaders would switch due to employee input. It is also the most trusted source of information about employee benefits.
Creating a benefits program that is easy for employees to use is vital for employee retention and recruitment, but benefits providers are often falling short.
Ease of use, customer support, and innovative features are the most important factors for benefits leaders when choosing providers. However, for three-in-ten benefits leaders, benefits providers are falling short in this area.
Better enabling benefits leaders to understand the wants and needs of their workforce is an area of opportunity, and a necessity, for benefits providers, brokers, and consultants.
Given the importance the role employee feedback plays in provider decision-making, it’s no surprise that it’s also the most trusted source of information about benefits. However, understanding which benefits are most important for employees is the top challenge in selecting a provider for benefits leaders.
81% of organizations are adding or improving benefits in the next year.
55% of benefits decision makers trust employee feedback as a source of information about benefits providers.
42% of benefits leaders would change providers based on employee feedback.