Flexible benefits: Engage employees with choice
Support employees in the moments that matter with flexible benefits and other forms of choice.
Employees are used to personalisation in every aspect of their lives — from banking to shopping — and want that same flexibility in the workplace.
They also want to work with an organisation that helps them get better control over their health and well-being, especially in a hybrid work environment.
However, our Health on Demand research shows that just 52% of employees can personalise their benefits package to meet their needs.
Employers need to realise that one size doesn’t fit all when it comes to benefits.
Making sure there’s something for everyone enables a thriving workforce fit for the future. Our research shows 72% of employees with access to 10 or more employer-sponsored benefits are less likely to move to another company. By contrast, just 43% of those with one to four benefits said they were less likely to move.
Adding choice to benefit plans helps employers create programmes that better meet employee needs while balancing cost with empathy. At the same time, they can use a broader suite of benefits to better align with their company purpose and improve inclusivity.
Challenges facing organisations today
Businesses have workers across multiple generations and socioeconomic backgrounds with vastly different priorities and challenges.
These groups represent just some of the many different needs and characteristics present in the workplace.
A growing body of research highlights that women, racial and ethnic minorities, LGBTQ+ employees and many others continue to experience health inequities and benefits gaps. This is reflected in how well employees feel they’re cared for at work and whether they feel they’re thriving.
No matter how often you benchmark benefits or which lens you use to create programmes, if you take a “one size fits all” approach, you’re likely only to serve the needs of part of your workforce.
of employees say their benefits meet their needs
of employees with access to benefits technology say their benefits meet their needs
of employees with access to benefits technology say they are thriving in their role
Health on Demand 2023
Using benefits to express company values will be more important as life becomes more complex.
Benefits for all is the secret to thriving employees and businesses. Understand the lives and priorities of your workforce and how to energise, reassure and care for them in the most relevant ways.
The key advantages of choice and flex
- Customisation of benefits for a multigenerational workforce and diverse needs
- Consistent communication and branding that empowers employees to take charge of their benefit decisions and well-being
- Optimisation of benefit investment, robust budget planning and cost control
- Improved employee visibility of the value of their benefits and shared responsibility
Our unique value proposition
- Integrated consulting, broking and technology
- Strong global and local choice consulting capabilities
- Strong provider relationships
- Global administration and communication technology
- Considered through the lens of the broader EVP, including health and well-being, DEI and ESG