Generational differences should be addressed in benefit offerings, research finds

“Since the pandemic, employers have faced a dramatically different workforce dynamic with a sustained increase in hybrid and remote workers, which is reshaping expectations,” said Patrick Leary, corporate vice president and head of LIMRA Workplace Benefits Research. “In this highly competitive job market, benefits remain a powerful tool to attract and retain talent. Employers recognize that expanded benefits are key to meeting employees’ post-COVID-19 needs and expectations.”

Employers believe demand for nonmedical benefits, such as paid family medical leave, emergency savings and financial wellness programs, will increase significantly, according to new research by LIMRA and Ernst & Young. Traditional employer-paid products and services will remain at the core of benefits packages, with widespread expectations for more holistic offerings. Most employees expect their employers to provide medical insurance, while paid family leave, dental, vision and life insurance also are highly valued benefits.