While a plethora of companies struggle to corral and keep top talent, financial investment in benefits programs remains a top priority for U.S. employers. As expected, much of the implementation issue is related to cost.
Many employers are struggling as benefit expenses continue to grow. While competition for talent has been an area of interest for the past few years, the survey found it to be a top priority this year. WTW's 2023 Benefit Trends Survey found competition for talent and rising costs to be the top influencers of employers' benefit strategies.
A majority (66%) of employers feel that their current benefit plan is effective or highly effective in attracting and retaining key talent. Many have shifted their focus towards benefit plans that satisfy all employees.
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