NEW YORK - June 7, 2021 - NFP, a leading insurance broker and consultant that provides property and casualty (P&C), corporate benefits, retirement, and individual solutions, today made available its 2021 US Benefits Trend Report, a comprehensive report on employee benefit trends, to all employers. The report and supporting tools and resources are available for download here.
With a focus on helping employers address challenges and achieve better outcomes, the 2021 US Benefits Trend Report features actionable insights from NFP's experts across HR solutions, compliance, Rx solutions, voluntary benefits, well-being, digital transformation and healthcare delivery. By examining employee benefits trends, pinpointing challenges and offering guidance on solutions, the 2021 US Benefits Trend Report empowers employers to chart a course to refine their benefits strategy.
The 2021 US Benefits Trend Report arrives as employers are reexamining the types of benefits employees want and need as the nation emerges from the pandemic. Key findings in the report include:
- Proactive employee engagement strategies are necessary for a remote workforce, and 65% of employers include social connectedness in their well-being strategy.
- Less than 60% of Americans have enough savings to cover an unexpected $1,000 expense.
- Sixty-nine percent of employees say having a wider array of benefits would increase loyalty to their employer.
- Improving health literacy could prevent nearly one million hospital visits and save over $25 billion a year.
- Seventy-three percent of employees said they are interested in support and guidance to help them understand how much money to put aside for retirement, emergency savings and healthcare expenses.
The report also includes perspective from Eddie Yoon, the founder of EddieWouldGrow, LLC, a think tank and advisory firm on growth strategy, and a co-creator of Category Pirates. Yoon discusses the 'both/and' mindset that is critical to progress in an uncertain environment.
'NFP's focus on providing insights employers can apply within their organizations supports the continuous improvement of their benefits programs,' said Doug Hammond, chairman and CEO of NFP. 'Employers are facing new challenges that require an understanding of the current landscape, employee needs, company objectives and available solutions, and our trend report puts us at the forefront of the conversation.'
'Just as the pandemic has exposed many gaps in employee benefits plans, it highlighted opportunities to elevate support for employees, better contain costs, and enhance the effectiveness of employee recruiting and retention,' said Kim Bell, executive vice president, head of Health and Benefits. 'Again this year, our trend report will play an essential role in helping our clients deliver benefits that are more meaningful to employees, more aligned with company strategy and more effective in advancing key objectives.'