Lively, Inc., the top-rated benefit solutions provider known for creating the modern Health Savings Account (HSA), today released its inaugural Employee Benefits Pulse Check that captures HR leaders’ efforts to keep up with shifting marketplace and employee demands. The study, conducted by CITE Research on behalf of Lively, reveals that 84 percent of HR professionals are increasing benefits, over half (58 percent) of organizations have improved healthcare coverage, and almost all (94 percent) believe parental leave benefits are the most important to attract and retain employees.
Download Lively’s inaugural Employee Benefits Pulse Check report to see what HR leaders and benefits consultants must do to attract and retain employees in 2023.
The survey found that an increased base salary, flexible work arrangements, and better healthcare coverage are the most impactful actions employers can take to attract talent. High inflation has increased the importance of offering competitive financial benefits, and most HR leaders (80 percent) feel that offering competitive financial benefits is currently more important for attracting and retaining employees than it was a year ago.
“Today’s job market has rapidly evolved, leading employees to ask more questions than ever before about their pay and benefits,” says Shobin Uralil, co-founder and COO of Lively. “Human Resource professionals are constantly faced with the challenging task of employee retention and attraction, and our findings show how these decision-makers have been staying vigilant in keeping up with ever-increasing employee expectations.”
The report also includes key steps HR leaders and benefits brokers can take to ensure they are meeting their employees’ needs in the wake of a volatile economy and an ever-changing healthcare and legislative landscape. The data revealed the importance of family planning and reproductive health benefits has increased, along with the overall need for benefits education to keep up with today’s policy. Lively releases this report just in time for open enrollment in hopes that HR leaders can use it as a resource as they begin to assess and plan their benefits offerings for 2023.
