Employers in the United Kingdom navigate benefit strategies with conflicting ambitions

Employers in the United Kingdom navigate benefit strategies with conflicting ambitions

Highlights from the 2023 BenefitsTrends Survey

Rising costs and competition for talent are key issues driving benefits strategy

Key business issues influencing benefits strategy

• Competition for talent: 77%
• Rising costs: 57%
• Focus on inclusion and diversity: 48%

To win and keep talent, it is essential to design benefit programs that meet the needs of a diverse workforce

Key areas of focus for the benefits strategy

• Meet needs for all employees: 56%
• Wellbeing: 49%
• Plan cost: 47%

There are some areas of disconnect between employer priorities and employee needs

Employers have prioritised health benefits, mental health support and inclusion and diversity

Alignment issues between employers and employees

Employers

Health benefits: 57%

Mental health support: 56%

Inclusion and diversity: 34%

Employees*

Retirement plan/long-term finances: 45%

Flexible work arrangements: 44%

Career, training and development: 32%

Note: Percentages indicate “the top 3”

Employers are looking to improve benefits to help employees with their short-term finances

Percentage of employers looking to improve their benefits positions

Financial wellbeing/short-term finances: 49%

Inclusion and diversity: 41%

Support employee benefits decisions: 38%