2020 Benefits Strategy & Benchmarking Survey Report

Employers gain a better perspective on the new normal through benchmarking data and insights into market trends.

GET THE INSIGHTS
2020 Benefits Strategy & Benchmarking Survey Report
Employers gain a better perspective on the new normal through benchmarking data and insights into market trends.
GET THE INSIGHTS

2020 Benefits Strategy & Benchmarking Survey Report

Gain a better perspective to redefine reward & benefits and re-engage your employees.

ACCESS THE INSIGHTS

The results of Gallagher's 2020 Benefits Strategy & Benchmarking Survey show that organisations are focused on providing fairer employee benefits and rewards. In addition to our usual detailed focus on organisational, financial, career, physical and emotional wellbeing, we've also asked HR Practitioners about the likely impact COVID-19 will have on their reward and benefits strategies going forward.

The results of Gallagher's 2020 Benefits Strategy & Benchmarking Survey show that organisations are focused on providing fairer employee benefits and rewards. In addition to our usual detailed focus on organisational, financial, career, physical and emotional wellbeing, we've also asked HR Practitioners about the likely impact COVID-19 will have on their reward and benefits strategies going forward.

The top three areas of focus in total rewards planning due to the pandemic:
The top three areas of focus in total rewards planning due to the pandemic:

62%

ALLOW EMPLOYEES
TO WORK FROM HOME REGULARLY

54%

POLL EMPLOYEES
ABOUT BENEFITS
AND WELLBEING

70%

ALLOW EMPLOYEES TO CARRY OVER UNUSED HOLIDAYS INTO 2021

65%

EMOTIONAL
WELLBEING

47%

LEAVE
POLICIES

39%

MEDICAL
BENEFITS

62%
ALLOW EMPLOYEES TO WORK FROM HOME REGULARLY
54%
POLL EMPLOYEES ABOUT BENEFITS AND WELLBEING
70%
ALLOW EMPLOYEES TO CARRY OVER UNUSED HOLIDAYS INTO 2021

Because at a time when everything has changed — new products and services, new delivery methods, new ways of working — you need the very best benchmarking data and insights to help guide your organisation to better business outcomes.

Educating the workforce about mental health issues, ensuring access to affordable treatment, and adjusting leave and return-to-work policies destigmatizes a relatively common experience. These efforts also help control costs by promoting proactive care.

Redefining business and people strategies will set the scene for the months and years to come, and determine the extent to which employees feel engaged and productive at work. This year's report has highlighted a number of areas in which change is already happening or is likely to begin as organisations return to work.

HAVE IMPLEMENTED AN ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) STRATEGY

HAVE IMPLEMENTED AN ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) STRATEGY

40%

40%

HR technology platforms can support areas of increased intensity, including alternative coverage options under COBRA, unemployment claims management, off boarding, outplacement, and video tools for safer onboarding of furloughed or new employees. 
In light of the growing importance placed on the environment and supporting eco-friendly initiatives with one's wallet, a new question was asked in this year's survey around ESG strategies. 2 of 5 respondent organisations declared that they have implemented an ESG strategy, with a third of these stating the strategy also applies to their pension fund investment approach and related internal communications.

DOWNLOAD THE
EXECUTIVE SUMMARY

Redefining business and people strategies will set the scene for the months and years to come, and determine the extent to which employees feel engaged and productive at work. This year's report has highlighted a number of areas in which change is already happening or is likely to begin as organisations return to work.

OF EMPLOYERS ARE CONSIDERING DOCTORS' SERVICES AND PRIVATE MEDICAL INSURANCE (PMI) AS A RESULT OF COVID-19

OF EMPLOYERS ARE CONSIDERING DOCTORS' SERVICES AND PRIVATE MEDICAL INSURANCE (PMI) AS A RESULT OF COVID-19

33%

33%

A third of employers who intend to introduce new benefits for their people as a result of the impact of COVID-19 say they are eying up PMI - so it will come as no surprise if PMI penetration rates rise over the next 12 months. The most forward-thinking  employers will not only respond to these findings and make the necessary changes, they will proactively enable more flexibility.
HR technology platforms can support areas of increased intensity, including alternative coverage options under COBRA, unemployment claims management, off boarding, outplacement, and video tools for safer onboarding of furloughed or new employees. 

DOWNLOAD THE
EXECUTIVE SUMMARY

Redefining business and people strategies will set the scene for the months and years to come, and determine the extent to which employees feel engaged and productive at work. This year's report has highlighted a number of areas in which change is already happening or is likely to begin as organisations return to work.

PLANNING CHANGES FOR 2020 INTEND TO IMPROVE THEIR BENEFIT COMMUNICATIONS

PLANNING CHANGES FOR 2020 INTEND TO IMPROVE THEIR BENEFIT COMMUNICATIONS

52%

52%

The new focus on 'why' over 'what': Taking stock of people's experience with their benefits package and expectations in terms of future improvements is the best way an organisation can maximise the return on investment of their people strategies
HR technology platforms can support areas of increased intensity, including alternative coverage options under COBRA, unemployment claims management, off boarding, outplacement, and video tools for safer onboarding of furloughed or new employees. 

DOWNLOAD THE
EXECUTIVE SUMMARY

Redefining business and people strategies will set the scene for the months and years to come, and determine the extent to which employees feel engaged and productive at work. This year's report has highlighted a number of areas in which change is already happening or is likely to begin as organisations return to work.

40%

HAVE IMPLEMENTED AN ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) STRATEGY

In light of the growing importance placed on the environment and supporting eco-friendly initiatives with one's wallet, a new question was asked in this year's survey around ESG strategies. 2 of 5 respondent organisations declared that they have implemented an ESG strategy, with a third of these stating the strategy also applies to their pension fund investment approach and related internal communications.

DOWNLOAD THE
EXECUTIVE SUMMARY

Redefining business and people strategies will set the scene for the months and years to come, and determine the extent to which employees feel engaged and productive at work. This year's report has highlighted a number of areas in which change is already happening or is likely to begin as organisations return to work.

33%

OF EMPLOYERS ARE CONSIDERING DOCTORS' SERVICES AND PRIVATE MEDICAL INSURANCE (PMI) AS A RESULT OF COVID-19

A third of employers who intend to introduce new benefits for their people as a result of the impact of COVID-19 say they are eying up PMI - so it will come as no surprise if PMI penetration rates rise over the next 12 months. The most forward-thinking employers will not only respond to these findings and make the necessary changes, they will proactively enable more flexibility.

DOWNLOAD THE
EXECUTIVE SUMMARY

Redefining business and people strategies will set the scene for the months and years to come, and determine the extent to which employees feel engaged and productive at work. This year's report has highlighted a number of areas in which change is already happening or is likely to begin as organisations return to work.

52%

PLANNING CHANGES FOR 2020 INTEND TO IMPROVE THEIR BENEFIT COMMUNICATIONS

The new focus on 'why' over 'what': Taking stock of people's experience with their benefits package and expectations in terms of future improvements is the best way an organisation can maximise the return on investment of their people strategies

DOWNLOAD THE
EXECUTIVE SUMMARY