More than half of respondents identified saving for retirement as the area in which they would most like help from their employers. When asked what would best meet their needs to save for retirement:

More than half of surveyed employees cited a guaranteed retirement benefit.
Four in 10 said receiving more generous retirement benefits in exchange for other benefits and less pay would help meet their needs.
41% said retiree medical benefits would help.
29% said access to other savings and investment products would help meet their needs to save for retirement.

The survey found that retirement security is important to employees of all ages, although their priorities vary. Younger employees desire more flexibility, such as having access to retirement savings for emergencies or other financial needs. Older employees are mostly interested in guaranteed retirement and medical benefits.

Nearly half of respondents would like their employers' help with getting the most value from their benefits.
Six in 10 said offering them a single website that lets them review and manage all of their benefits would help them get more value.
Roughly half want tools to help them better understand their choices.
49% want the ability to speak with a benefit specialist when making decisions.

Although work-from-home arrangements have helped both employees and employers during the pandemic, the survey found employees want more assistance to meet their needs.

Nearly half of employees would like their employers to help with work-life balance issues.
52% indicated that more generous paid time off, vacation and sick leave at the expense of other benefits would best meet those needs.
About four in 10 cited greater flexibility in how often they work and where they work.

"Many employees have concerns about the cost of benefits and are looking for assistance from their employers," said Jill Knoke, Health and Welfare Benefits Outsourcing leader for Willis Towers Watson. "While providing meaningful choices and decision support tools are not new solutions, they're a good place for employers to start. By reinvesting in benefit technology and communication, employers can move the needle and help employees better understand their benefit choices, manage costs and ultimately optimize the value of their benefits."

Instant Insights /

Employees raise expectations for employer-paid benefits during pandemic

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