Rising Cost of Employee Benefits a Top Concern for Businesses

Snapshot

• The Aon study revealed that 55 percent of employers found that increases in benefit plan costs was their top challenge followed by 54 percent reporting unavailability of benefit packages that offer diversity, options, and flexibility to attract and retain talent.
• Employees increasingly seek a work environment that supports their mental health and wellbeing, with increasing numbers asking for remote work arrangements, meaningful work and shorter hours.
• While employee wellbeing was a key priority for 46 percent of the employers surveyed, 1 in 2 of the companies indicated that they lacked a clear benefits philosophy and that mid to longer term benefits strategy was a key future priority for them.