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Modernising Benefits

Employee expectations are rising and benefits provisions are constantly evolving.

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Employee expectations are rising, workforce demographics are changing, benefits provision is evolving, and in an uncertain economic environment, corporate objectives are under constant review. Against this backdrop, complacency in the employee benefits arena cannot be an option.

Why modernize?

Latest research suggests that 62% of employers are evolving their benefits to align them with market norms and employee wants and needs; and more than two third of employers are incorporating wellbeing into their employee benefit strategies.

Effective risk management plays an important role in mitigating the future costs of insurance volatility and employee health. Investment in preventative action - such as robust absence processes, tools and services in the areas of mental health - are increasingly coming into focus.

Although you may regularly review the cost of your insured benefits against alternatives, has your benefits portfolio kept pace with the changes to your business and workforce?

What is changing?

Employees are embracing their employer playing a significant role in their wellbeing, but so far programs are coming up short. Progressive employers are combining employee listening to understand employee wants and needs with external benchmarking to drive a modern, relevant benefits portfolio.

Current global pandemic and economic uncertainties are accelerating the need for employers to take action and modernize their benefits offering.

A personalized modernization assessment from Willis Towers Watson will identify opportunities to modernize, de-risk and reduce costs:

  • Benchmark key aspects of your benefits against a database of 200+ Swiss employers.
  • Highlight risks and show unlocked potential.
  • Identify embedded and digital services available to your employees.
  • Compare how employers are changing benefits in response to COVID-19.

Read more about our 2021 Benefit Trends Survey results, get your personalized Scorecard and request our 2021 Benefit Trends Survey highlights report here or contact Alexandra Lyner directly for a consultation.

Watch our Modernising Benefits video.

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