With the Great Attrition a matter of continuing urgency — the number of Americans quitting their jobs has stayed near record highs — attracting and keeping talent is a strategic priority.
Over the last five years, according to McKinsey research, the value workers place on ancillary and voluntary benefits has risen. That finding was consistent with a 2019 survey from the Association of International Certified Professional Accountants, in which most employed respondents said they valued benefits more than salary when considering a new job.
Yet many organizations still have complicated and antiquated benefit design and employee guidance systems, and employees often don’t bother fighting through the confusion to understand their options. As a result, spending is misaligned, even as the structure doesn’t work as well as it could for employees, and the complexity is a strain on human-resource teams. But this is a problem that contains an opportunity to create a solution: intuitive, data-driven technology platforms that can deliver high-quality, easy-to-use products, services and information.
