With employee turnover in the news over the last few months, employee benefits leaders indicated a 23% increase in their focus on fighting attrition. Additionally, we continue to see “employee feedback” as the #1 response when asked what sources HR leaders are using to make benefits decisions, which showed a jump of 33 percentage points compared to our 2019 survey. Listening to employees is the prevailing strategy for combating the Great Resignation.
Our research reveals a lack of confidence when it comes to benefits data analytics. When asked “How successful is your organization in using non-traditional data sources (i.e. not medical or rx) in making benefits decisions?” just 53% of respondents felt they were “very successful.” Everyone knows data is critical; not everyone feels they have the tools to use it successfully.
When asked to rank the challenges they face in finding and administering new benefit programs, respondents told us they struggle with identifying new programs (27% identified this as their biggest challenge), and measuring/managing new programs (23% said this was their second biggest challenge). Benefits leaders need help offering the right point solutions for employees.
We have three options to suit your needs.