The future of work offers multiple challenges and opportunities in providing employee benefits:
• Providing competitive employee benefits. The war for talent is continuing, particularly for specialized skills and in emerging markets. A multi-generational workforce demands personalized, creative, digital and flexible benefits. Market practice is not always the right benchmark. And new employee benefit approaches are needed such as tying employee benefits to diversity and corporate social responsibility strategies.
· Controlling cost and risks. Medical and disability costs are increasing due to government regulations, aging populations, more consumption of healthcare and more expensive treatment. Medical expense claims can be catastrophic in nature and often are uninsurable. Many programs do little to encourage providers or employees to make the right decisions about their healthcare. Managing benefit programs is becoming harder due to new privacy regulations. It is time to optimize benefits spend and transform healthcare management.
· Simplifying program delivery. Employers are looking to streamline HR administration and reduce complexity. In today’s digital age, employee benefit communication requires a more personalized and engaging experience. The strategic deployment of technology will enable HR resources to focus on more strategic initiatives.
Strategy and planning
Stay on top of market trends that matter to you. We’ll help you cut through the noise to develop a winning strategy.
Vendor selection and management
Who’s the best partner for your company? Leverage our deep knowledge of the marketplace to find the right fit.
Design and financing
How competitive is your program, and what’s driving costs? Make sure your plan design and financing are up to the task.
Delivery and communication
Make sure your employees understand the value of their benefits by designing the right level of support to create your best employee experience.
The content within this site does not constitute specific advice. Mercer provides recommendations based on our clients’ circumstances and needs, which may vary among clients.