To shed light on current and potential benefits-related strategies and trends, Lockton conducted a survey of US employers in early 2019. The results of this survey provide important insights into the most common and the most progressive employee benefits strategies, as well as their expected adoption over the next plan year. 

Please click the image to download the Executive Summary.

Competitiveness vs. cost

It’s no surprise that employers are struggling to find enough talented individuals to fuel their growth.

Employers understand the role of their employee benefits in attracting and retaining talent, and nearly 96 percent of respondents know they need to be competitive when it comes to talent acquisition. 

At the same time, survey responses revealed that the single most important factor for organizations when making benefits decisions is cost reduction, requiring a delicate balancing act. 

Competitive plan

Developing a competitive plan at a low cost is both an art and a science.

Survey responses demonstrate that employers are more likely to implement benefits features that cause the least amount of employee disruption in lieu of changes that offer greater cost savings. However, employers are still implementing some strategies to save on costs.

Diverse benefits needs

Despite the need to be competitive, employers are not adequately addressing the diverse benefits needs of their employees.

Communication

Communication is crucial … but still limited.

Communication is key to helping employees understand the value of the benefits they receive. The majority of employers emphasize the value of their benefits only during the hiring process and at open enrollment. Increasing year-round communications and targeted messages offers opportunities to drive additional engagement and awareness.

To request to participate in the survey, please click the link and complete the form.

For questions about the 2019 Lockton benefits survey, please contact [email protected].

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Discover more Insights & Publications
Read more in the Lockton Newsroom
See our Client Stories