• Free Newsletters
  • Free Seminars and Podcasts from Industry Experts
  • Free Online Content and More

Recession deepens benefit appreciation

WEB EXCLUSIVE

Print
Email
Reprints
 
By Kathleen Koster
May 18, 2010

Some 70% of surveyed HR professionals believe their employees are more appreciative and aware of their benefits package since the recession hit.

The economic pressures have also led many employers to take a hard look at employee service options. For example, outsourced solutions have grown in popularity for many large organizations with more than 5,000 employees, up to 40% from 34% in 2009, finds the 3rd Annual Benefit Survey, conducted by Workscape Inc.

If the trend continues, outsourcing for open enrollment will be more common than in-house solutions for this group within the next two to four years, predicts the outsourcing firm.

For those with smaller staff sizes and less capital, outsourcing was less popular. Only 24% of mid-sized organizations (1,000-5,000 employees) use outsourcing, only slightly higher than small organizations (under 1,000 employees) where 22% outsource open enrollment.

Employers’ interest in consumer-driven health plans (CDHPs) and high-deductible health plans (HDHPs) has leveled, the survey says, with about half of small and mid-sized organizations and close to two-thirds of large organizations providing these programs to employees.

In order to mitigate confusion around these plans, decision-support tools are now widely used in large organizations (70%) as well as small organizations (63%).

“Health care plan increases have become part of the ‘new normal.’ As a result, organizations need to think creatively to ensure their employees remain engaged without compromising the fiscal health of their companies,” says Tony Marzulli, Workscape’s chief marketing and sales officer.”

A complimentary white paper containing the full survey results can be downloaded from www.workscape.com/benefitstrends2010.

Follow EBN on: Twitter | Facebook | LinkedIn | Podcasts

0 Comment(s)

Be the first to comment on this post using the section below.

Add Your Comments...

Already Registered?

If you have already registered to Benefit News, please use the form below to login. When completed you will immediately be directed to post a comment.

Forgot your password?

Not Registered?

You must be registered to post a comment. Click here to register.

Related Articles

Most Popular

Most Forwarded