Better employee engagement and return on investment through flexible benefits
Against the backdrop of the COVID-19 pandemic and the resulting economic fallout, employees are reporting a significant increase in the value they place on the benefits offered by their workplaces.
Employees thrive when they have access to a broad range of health and well-being choices. In fact, the more of these resources that employees have access to the more supported they feel. According to Mercer Marsh Benefits’ Health on Demand 2021 report, three-quarters of employees with access to ten or more health and well-being benefits feel energized at work. 92% are confident they can afford the healthcare they need and three-in-five feel their employer cares about their health and well-being.
Including a flexible benefits plan within your benefits value proposition can contribute to increasing employee commitment and satisfaction and is a powerful tool for attracting and retaining talent. Over half (54%) of all employees would like to customize their benefits to meet their needs as noted in Health on Demand 2021.
While there are some benefits that most employees want, others only a small portion would value intensely. Offering a broad range of supports makes it more likely you will offer something for everyone.
Similarly, cash plans that give employees a contribution towards everyday healthcare costs, such as for optical, dental, or physiotherapy services, have broad appeal to employers and employees alike. This allows your workers to choose from a portfolio of personalized products and services, tailored to their life stages and their families’ needs.
Giving employees choice in their benefits package can be a powerful tool in managing benefits cost and enhancing your credibility as an employer of choice.
MMB can help you
Mercer Marsh Benefits can help employers create sustainable and engaging flexible employee benefits programs. Working together with you, we can provide:
- End-to-end management of flexible benefits plans, including plan design, communication, broking, and administration.
- World-leading technology, including the global employee benefits software, Darwin™, which allows you to track performance, automate administration, and truly engage employees, driving your strategy through data-led insights.
- Global and local expertise of a strong team comprised of benefits consultants and underwriters who can help develop flexible solutions that truly benefit.
- Cost-effective and tailored benefits that enable you to celebrate the diversity of your employees and are delivered on a user-friendly platform, all of which saves you significantly on your yearly spend.
- Global compliance support through a centrally managed benefits structure, which can help you remain confident in the knowledge that your benefits are compliant in every market in which you operate.
