Sep 23, 2021
Over 90% of businesses surveyed by Principal® say they plan to increase at least one benefit in the next 12 months. They surveyed 500 employers from companies with two to 10,000 employees in a diverse array of industries. "As businesses start to ramp up operations, employers are dealing with the complex American labor shortage and a workforce empowered to determine where they want to work and what they want from an employer, making benefit offerings more critical," says Amy Friedrich, president of U.S. Insurance Solutions at Principal®.
Employers plan to increase telehealth (42%), healthcare benefits (41%), and mental health/well-being services (38%) in the next 12 months. Over 80% of businesses see retirement plan offerings as essential in attracting and retaining talent.
Sixty-five percent of businesses are improving digital access to benefits for employees. "Today, winning the differentiation battle has gone from experimenting with e-commerce to supporting a remote workforce and offering a full suite of resources at their fingertips, including benefits," Friedrich added.
