Report: Benefits Strategy & Benchmarking Survey Report
The report identified four megatrends that have had a resounding impact on society, organisations and individuals alike: the post-COVID-19 economy; digital transformations; the search for a sense of purpose; and eco-friendly agendas. These four megatrends translate into three specific directional changes to organisations' reward and benefit strategies: the COVID-19 effect; the rising importance of societal and environmental wellbeing; the new focus on ‘why’ over ‘what’.
Key findings
- One in three of those employers who are planning changes as a result of COVID-19 are considering doctors’ services and private medical insurance (PMI).
- 13% of employers have implemented an environmental, social and governance strategy which applies to their pension fund investment and internal communication approach.
- 52% of those planning changes for 2020 intend to improve their benefit communications.
Between 1st April and 5th June 2020, 200 organisations across the UK responded to more than 100 questions covering the total reward spectrum. Now in its third year, the report tracks the trends to help organisations better navigate through the complexities of employee benefits and engagement.
Supplied by REBA Associate Member, Gallagher
Consultancy services including organisational wellbeing, culture change and internal communications.
