Employers are adjusting benefits spend to boost recruitment, retention, engagement and more
Pressures on employers to transform organisations mean that benefits specialists increasingly must step up to support wider strategic HR objectives. Working with talent and development through to reward and wellbeing, the benefits team will be ever more crucial to retain, engage and reskill employees to drive business success in a tight labour market.
The REBA/Howden Employee Benefits & Wellbeing Benefits Design Research 2024 reveals that despite a focus on streamlining benefits, plans are afoot for large scale projects that tackle communication, financial and mental wellbeing, as well as strategic technology transformation, while all eyes will be on measuring effectiveness to secure future funding into 2025.
Over the next few years employers will be reviewing, reallocating and acting according to need. Even when the wider economic and business environment might still feel tight for many, the vast majority (91%) of respondents will increase spend, or plan to, in at least one key area. Indicating the seriousness with which employers are taking benefits.
Use this 22-page research report to:
- Benchmark your benefits strategy against 234 of your peers
- Learn how others are responding to challenges such as health benefits inflation
- Uncover which areas of benefit spend will see strategic transformation in 2024/25
- Anticipate the future HR objectives that benefits strategies will target
- Discover what others are measuring to determine benefits effectiveness
- Overcome the barriers faced when implementing benefit changes
In partnership with Howden Employee Benefits & Wellbeing
Howden provides insurance broking, risk management and claims consulting services, globally. We work with clients of all sizes to provide dedicated employee benefits & wellbeing consultancy.
