Research: Benefit Trends Survey 2019
The research investigates employer perspectives and strategies, exploring the programmes they have in place, their priorities and the key challenges they face over the coming years. It focuses on core areas including: the benefits portfolio; financing; talent experience; administration and operations; analytics, insights and reporting.
Key findings
- Only 6% of UK respondents regard themselves as ‘highly effective’ in all areas of benefits strategy. A failure in using digital tools to drive engagement emerged as a notable area of concern – cited as being effectively employed by just 12% of respondents. Only one in five, meanwhile, effectively differentiate their benefits from their competitors.
- Talent experience topped the agenda for the coming three years with 72% of businesses planning to focus on effective benefits engagement and delivery.
- The top three benefit challenges for the next three years were: differing requirements of a multi-generational workforce; rising benefits costs; and communication challenges around benefit choices.
- In the wake of developments in benefits technologies, which have created opportunities to improve the employee experience and the administration of benefit plans, 70% are now set to prioritise their focus on online portals or apps, while two-thirds (66%) will implement or enhance employee self-service.
Globally, the study was conducted among 4,300 companies in 88 markets, covering more than 22 million employees. This executive summary for the UK market shines a light on the findings from 437 companies, employing a total workforce of 2.1 million across a wide range of industries – from energy and utilities, financial services and healthcare to IT and telecoms, manufacturing and the public sector.
Supplied by REBA Associate Member, WTW
WTW is a leading global advisory, broking and solutions company.
