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5 takeaways from SHRM's 2017 benefits report

Tracy, Janine.jpgSHRM recently released their 2017 Employee Benefits Survey that examines the prevalence of benefits over the past five years. It tracks trends and helps employers understand the benefits landscape while also providing insight into what other companies are doing with their benefits program. We've pulled out the top statistics employers should pay attention to.

1. One third of organizations increased their benefit offerings in the last 12 months.

The top reason cited was to remain competitive in the marketplace. Recruiting top talent continues to be a major issue amongst HR professionals, but benefit enhancements can be a driving factor in bringing in rockstar recruits. 

2. 89% of employees are somewhat satisfied with their jobs, but 40% considered the possibility of seeking employment elsewhere in the next 12 months.

In the tech age, employees are able to see what else is out there and aren't afraid to look. The leading reason for these wandering eyes? Higher compensation followed by better benefits. 

3. One third of organizations offer coverage for part-time employees.

It's no secret that health care coverage will keep your employees' happy and healthy, but will also have them stick around for the long haul - especially if you cover spouses, domestic partners, and their dependents.   

4. In 2016, adding an HSA was the most common strategy organizations used for controlling health care costs and 55% of employers offered this benefit in 2017.

HSAs allow individuals to save on a tax-free basis for future qualified medical and retiree health care costs. In 2017, more than a third of employers contributed to employees' HSA accounts. 

5. 34% of employers offer telemedicine as an employee benefit, up 11% from last year.

Being able to receive a diagnosis, treatment or prescriptions provided via the phone or video increased 11% over the past year and continues to be on the rise. A great way to offer convenience for employees and their families at a reduced cost. 

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Topics: HR / Employee Benefits