LIMRA research indicates that economic factors, a diverse workforce, and remote work are reshaping employee benefits in 2024, with employers striving to offer competitive benefits amid rising costs and inflation, while employees face challenges in selecting benefits due to increasing complexity and limited budgets. Click here for article.
The hot labor market and low unemployment are driving employers to offer stronger compensation and benefits to attract and retain talent.
High inflation impacts employees' ability to afford voluntary benefits, squeezing their budget for such options.
Remote and hybrid work have changed how benefits are marketed and delivered, necessitating digital solutions for enrollment and claims.
Despite the rising cost of benefits, employers remain committed to offering them but rely more on benefits brokers due to reduced HR staff.
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