In the wake of the pandemic, employee expectations are rapidly evolving, posing challenges for employers navigating this dynamic landscape. To provide clarity amid these changes, we’ve compiled six crucial statistics that benefit leaders should be aware of, accompanied by expert recommendations on integrating them into your benefits strategy.
- Projected Healthcare Cost Increase:
- Employers anticipate a 6% rise in healthcare costs in 2023, following a 5% increase in 2022 (Willis Towers Watson survey).
- Recommendation: Be mindful of upcoming costs for programs and partners, aligning internal expectations accordingly.
- Remote Work Preferences:
- 87% of employees express a desire to work remotely when given the opportunity (McKinsey survey).
- Recommendation: Tailor in-office and remote policies to your workplace needs, aligning expectations across teams.
- Impact of Family Building Benefits:
- 45% of employees consider fertility benefits when evaluating a new job, yet only 6% currently have access (Harris Poll).
- Recommendation: Explore diverse family-building benefits to enhance diversity, equity, and inclusion.
- Expansion of Behavioral Health Providers:
- In-network behavioral health providers have grown by 48% in three years (America’s Health Insurance Plans survey).
- Recommendation: Implement holistic behavioral health programs to address mental health and substance use disorders.
- Pay Transparency and Job Applications:
- 75% of employees are more likely to apply for a job if the salary range is disclosed (Indeed survey).
- Recommendation: Embrace transparency requirements to attract applicants and work with HR and legal teams to communicate organizational support.
- Cost Savings through Integrated Health Programs:
- Integrated health benefits programs with patient navigation and advocacy may yield cost savings.
- Recommendation: Invest in platforms offering comprehensive care management and transparency for potential cost savings.
Remaining informed about healthcare trends is vital for crafting a robust benefits strategy. We collaborate closely with our clients, providing insights into the latest health benefits, emerging programs, and valuable digital health solutions to attract, retain talent, and ensure ongoing employee support.