A willingness on the part of 51% of employee to pay for more of their benefits and manage their own “rewards budget” came in at No. 4 in the 16th annual “Top Five Total Priority Rewards Priorities” online survey of 292 employers jointly sponsored by Deloitte Consulting LLP and the International Society of Certified Employee Benefit Specialists.
This research underscores how the financial crisis has had a major impact on employees and employers, as well as the role of worksite marketing.
“Rounding out the top five [priorities] in 2010 are two strategic challenges that require a clear connection between employers and their employees,” according to the report. “In both, the focal point is on engaging employees in their benefit programs as more informed consumers, and on designing those programs with the recognition that generational differences exist and need to be considered in plan design.”
Most employers (72%) said they would redesign their health and welfare plans within the coming year, while more than half (52%) sought greater use of employee self-service technologies relative to restructuring the administration of some or all rewards programs.
As a result of their mounting financial anxieties, 77% of the employees surveyed fretted about being able to retire and, as such, 40% planned to delay retirement, while 60% worried about even having a job.
With growing scrutiny on cost, the researchers recommended that employers ensure that “their rewards programs are eliciting the behavior and engagement that drive business results.”
