The infographic shows on what Swiss employers look to enhance benefits to attract and retain talent
Highlights from the 2023 Benefits Trends Survey.
Competition for talent and flexible work arrangements are key issues influencing benefits strategy
Concerns around meeting the needs of all employees keep growing, making it the most important issue influencing benefit strategies
Flexible work arrangements as well as Career, training and development are the primary focus of the benefits portfolio
Employers look to improve their market position across wellbeing and career
Nearly half of employers are reviewing vendor contracts
Next steps for employers:
Employers look to improve their market position across wellbeing and career
Enhance. Stay ahead of the curve by benchmarking benefits against competitors and identifying areas to enhance using market studies and industry-specific survey data.
Differentiate. Understand the employee experience by listening to employees and identifying their wants and preferences. Providing employees with choice and supporting their decision making through effective communication and technology adoption will ensure benefits offerings not only feel relevant and personalised, but will also lead to better appreciation of benefits. Optimise. Get the most from current benefits by optimising financing through managing spend, reviewing vendor contracts and cutting the cost of claims through proactive management of employee absences. Streamline. Help drive efficiency through improved processes, internal operations and vendor management. Measure. Evaluate the benefits offering, and identify the changes and improvements needed to ensure better value is delivered to both employers and employees.
Swiss employers look to enhance benefits to attract and retain talent
Highlights from the 2023 Benefits Trends Survey
Competition for talent and flexible work arrangements are key issues influencing benefits strategy
- Competition for talent: 85%
- Flexible work arrangements: 56%
- Rising costs: 33%
- Focus on inclusion and diversity: 28%
Note: A maximum of three options could be selected
Concerns around meeting the needs of all employees keep growing, making it the most important issue influencing benefit strategies
Key focus areas for the benefits strategy
- Meet needs for all employees: 61%
- Plan cost: 43%
- Wellbeing: 39%
- Benchmarking and market trends: 39%
Note: Percentages indicate “ranked top 3”
Flexible work arrangements as well as Career, training and development are the primary focus of the benefits portfolio
What are employer priorities to support their workforce?
- Flexible work arrangements: 55%
- Career, training and development: 52%
- Risk and insurance benefits: 32%
- Social connections at work/Inclusion and diversity: 30%
- Mental health support: 27%
- Retirement plan/long-term finances: 24%
Note: Percentages indicate “ranked top 3”
Employers look to improve their market position across wellbeing and career
Percentage of employers looking to improve their benefits positions
- Inclusion and diversity: 36%5
- Support employee benefits decisions: 32%
- Financial wellbeing/short-term finances: 32%
- Career, training and development: 29%
Nearly half of employers are reviewing vendor contracts
Percentage of employers who have taken action in benefits financing
- Improve terms in vendor contracts: 46%
- Bundle different services into one package from a single vendor: 26%
- Mitigate retirement plan risk: 25%
Next steps for employers
Enhance. Stay ahead of the curve by benchmarking benefits against competitors and identifying areas to enhance using market studies and industry-specific survey data.
Differentiate. Understand the employee experience by listening to employees and identifying their wants and preferences.
Providing employees with choice and supporting their decision making through effective communication and technology adoption will ensure benefits offerings not only feel relevant and personalised, but will also lead to better appreciation of benefits.
Optimise. Get the most from current benefits by optimising financing through managing spend, reviewing vendor contracts and cutting the cost of claims through proactive management of employee absences.
Streamline. Help drive efficiency through improved processes, internal operations and vendor management.
Measure. Evaluate the benefits offering, and identify the changes and improvements needed to ensure better value is delivered to both employers and employees.
