Employers reshape benefit strategy amid increasing focus on wellbeing and the employee experience

Panel 1: 2 in 3 Belgian employers aspire to differentiate their benefit programs and customize their employee experience within the next two years.

But only 1 in 10 do so today. No strategy: 45% today, 5% next two years, adopt strategy: 5% today, 10% next two years, communicate and deliver benefits in value proposition: 40% today, 25% next two years, differentiate and customize: 10% today, 60% next two years.

Panel 2: External and internal factors shape employers' priorities and choices

External influences on benefit strategy: Diversity equity and inclusion: 60% global, 56% Benelux, 58% EMEA, 40% Belgium. Tight labor markets: 59% global, 67% Benelux, 61% EMEA, 73% Belgium. Increased remote working: 54% global, 75% Benelux, 56% EMEA, 70% Belgium. Rising costs: 39% global, 20% Benelux, 30% EMEA, 17% Belgium. Diversity, equity and inclusion is becoming increasingly important, closely followed by tight labor markets. Increased remote working remain critical in Belgium as other issues gain in importance. Stress, burnout and mental health issues exacerbated by the pandemic are key workforce challenges globally.

Panel 3: Improved wellbeing and employee experience emerge as key success measures

Benefit strategy success measures: Improved wellbeing: 62% global, 65% Benelux, 61% EMEA, 66% Belgium. Improved employee experience: 50% global, 63% Benelux, 44% EMEA, 48% Belgium. Improved retention: 40% global, 35% Benelux, 43% EMEA, 41% Belgium. Improved employee performance: 32% global, 30% Benelux, 34% EMEA, 38% Belgium.

Panel 4: What are the strategic objectives that will help employers realize their aspirations of a differentiated and customized benefit strategy?

Employers are looking to: Integrate wellbeing into the benefit package (72%), increased flexibility and choice (55%), enhance tools and technology (45%) and 74% expect to have an enhanced digital strategy to personalize the employee experience of benefits in two years.

About the survey. Global research findings are based on responses from a total of 3,642 employers representing 14 million employees around the world who participated in the 2021 Benefit Trends Survey. The survey was conducted between May 10 and June 25, 2021, including 20 companies from Belgium.

Source: 2021 Benefit Trends Survey