EXCLUSIVE: Three-quarters (76%) of employers have a desire to improve employee engagement in the future.
The Employee Benefits research 2020, published in May 2020, which surveyed 269 HR decision-makers, found that 64% want to improve the influence of employee expectations, while 63% want to be an employer of choice.
In 2018, improving engagement sat in second place at 63%, superseded by the desire to be an employer of choice (65%); however, despite these shifts over the years, the primary motivators for employers have remained relatively steady. In addition to meeting employees expectations and attracting new talent, almost three-fifths (56%) stated that the desire for flexibility within their benefits package is influencing their approach.
Employers are also shaping their benefits strategies around their employees’ demographics: more than half (53%) of respondents said that a multi-generational workforce is a key issue, while almost a third (31%) said that the need to increase workforce diversity is important.
Looking to address future challenges, the need for better or more targeted benefits communication remains the top priority (67%). This has been of high importance for employers in recent years in order to boost engagement and take-up of benefits, as well as to ensure a return on investment for benefits spend.
However, passing the baton of benefits spend from employer to employee has risen in terms of importance; in 2018, this was the fourth priority, but this year it takes second place. This suggests that, with the increasing focus on providing for diverse workforces and offering a wide range of perks, employers are finding that the best option is to cede control and be less prescriptive.
Click here to download the Employee Benefits Research 2020