Contacts
How do companies compete for talent in a nearly full-employment economy?
In the life science industry in California, firms are doing it by sweetening their employee benefits and perks, according to a survey of 120 California life science companies by Marsh & McLennan Agency, LLC., (MMA).
“Life science companies are responding to competitive pressure by offering a richer set of employee benefits now on par or better than the technology industry,” said Chris Williams, CEO of MMA’s West Region. “Attracting top-tier talent in California’s high-cost regions, where many life science companies are located, means innovating and staying ahead of the competition.”
Download Marsh & McLennan Agency’s new life science survey of employer benefits and perks.
MMA’s survey found that life science companies are being more generous with retirement benefits, financial wellness solutions, work-life balance accommodations, mental and physical health benefits, flexible work schedules, paid time off (PTO) and leave policies, along with numerous convenience perks to reduce the stress on workers.
Among the topline findings:
- 9 out of 10 employers surveyed offer a retirement plan
- 77 percent offer a flexible spending account; 62 percent offer a health savings account
- 39 percent have an onsite gym and 19 percent offer a gym reimbursement
- 70 percent of employers offer flexible work schedules
- 19 percent provide financial planning, savings or education programs
- 29 percent offer commuter benefits or stipend
“California’s tech industry has been a pioneer of unique perks and benefit offerings, but life science companies are upping their game to compete for the best and the brightest,” Williams said.
Marsh & McLennan Agency has one of the largest life science practices in the U.S., serving more than 2,500 companies in the pharmaceutical, medical device and biotechnology sectors. The firm offers customized insurance and risk management strategies for all phases of business development, from emerging growth through commercialization.
Download Marsh & McLennan’s new life science employers survey of benefits and perks.
Related Offerings
Employee Health & BenefitsRelated Industries
Life SciencesYou May Also Be Interested In
- Event
01.20.2021
Webinar | New Developments in the Classification of Workers
- Event
01.27.2021
Webinar | The New Norm: Maintaining Productivity While Working From Home
- Event
02.09.2021
Webinar | 1+2=5? Understanding Your Benefits Cafeteria Plan
- Blog
01.14.2021
Benefits News and Views
- Event
01.13.2021
Webinar | Leave of Absence and Return to Work Issues in the Era of COVID-19
- Blog
12.31.2020
WellConnected Resources
- Event
12.17.2020
Webinar | Year End Checklist 2020 and Future Forecast 2021
- Event
11.19.2020
Webinar | ACA Reporting Requirements 2020
- Event
11.12.2020
Webcast | 2020 Election Results: The Impact to Benefit Plans
- Blog
11.12.2020
Live Well Work Well Newsletters
- Event
10.21.2020
Webinar | Telemedicine: Permanent Solution or Temporary Fix
- Event
10.15.2020
Webinar | Health Savings Accounts 2020
- Blog
10.14.2020
INSIGHTS Newsletter
- Event
10.08.2020
Lunch & Learn: Take Charge Health
- Blog
09.24.2020
DOL Issues New FFCRA Leave Guidance
- Event
09.17.2020
Webinar | FMLA and Employee Benefits 2020
- Event
09.15.2020
Webcast | Benefit Administration: State of the Market
- Blog
08.21.2020
Open Enrollment Going Virtual
- Event
08.20.2020
Webinar | Compliance Considerations When Self-Insuring 2020
- Event
07.22.2020
WEBINAR | Next Chapter: Massachusetts Family Leave Act 2021
- Event
07.21.2020
Webcast | Senior Care - The New Normal
- Event
07.16.2020
Webinar | Annual Required Notices 2020
- Event
06.25.2020
Webinar | Paycheck Protection Program- Q & A Town Hall
- Event
06.17.2020
Webinar | Financial Wellbeing: Essential to the Health of Your Employees
- Blog
06.17.2020
National Safety Month: Check Your Safety Lens with a safety perception survey
- Blog
06.16.2020
Connecting with Your Five Employee Demographics
- Event
05.21.2020
Webinar | COBRA 2020
- Event
05.19.2020
Webinar | Legal and Compliance Return to the Workplace: Considerations for Employers
- Event
04.30.2020
Webcast | COVID-19: Managing the Impact- Weekly Update 4.30.20
- Blog
04.28.2020
Employee Mental Health: More Vulnerable Than Ever During the COVID-19 Crisis
- Blog
04.20.2020
Diversity and Inclusion and the Battle for Talent
- Event
04.16.2020
Webcast | COVID-19: Managing the Impact- Weekly Update 4.16.20
- Event
04.09.2020
Webcast | COVID-19: Managing the Impact- Weekly Update 4.9.20
- Event
04.02.2020
Webcast | Update on COVID-19: Navigating the Coronavirus and Managing the Impact
- Event
03.30.2020
WEBCAST | Employee Benefits & 401K Compliance During The Coronavirus Outbreak
- Event
03.24.2020
Webinar | Navigating the Coronavirus and Managing the Impact
- Event
03.12.2020
Webinar | The Power of Food
- Blog
02.06.2020
AD&D: What Employers and Employees Need to Know
- Event
01.23.2020
Seminar | Employment Law Landscape 2020
- Blog
01.16.2020
Employee Health & Benefits 2020 and Beyond
- Event
12.19.2019
Webinar | Year End Checklist and Future Forecast
- Blog
12.05.2019
Financial Wellness
- Blog
12.03.2019
Building the Foundation for a Successful Implementation
- Event
11.21.2019
Webinar | ACA Reporting Requirements
- Blog
11.05.2019
Before the Turn of the Decade: Important Reminders Regarding Employee Benefits
- Event
10.17.2019
Webinar | Health Savings Accounts
- Blog
10.07.2019
4 Ways to Improve Open Enrollment
- Event
09.19.2019
Webinar | New HRA Options
- Event
09.12.2019
Webinar | New Developments with HRAs and 2020
- Blog
09.10.2019
5 Employee Wellness Initiatives That Work
- Event
08.15.2019
Webinar | Association Health Plans
- Blog
08.02.2019
Podcast | Choosing Your Broker
- Blog
08.01.2019
Wearable Health Care Technology: Fashion Fad or the Future?
- Event
07.18.2019
Webinar | Annual Required Notices 2019
- News
06.21.2019
MMA Midwest Named Second Largest Dayton-Area Employee Benefits Company
- Event
06.20.2019
Webinar | Mid-Year Compliance Review
- Blog
06.20.2019
A New Era of Employee-Centric Work Perks
- Event
05.29.2019
Seminar | Pharmacy - Everyone's talking about it, but what can I do?
- Event
05.16.2019
Webinar | Wellness Programs
- Blog
04.26.2019
Massachusetts Releases New Guidance and Employee Notice Template For Massachusetts Paid Family and Medical Leave (PFML)
- Event
04.25.2019
Webinar | Total Worker Health
- Event
04.18.2019
Webinar | HIPAA Privacy & Security Training
- Blog
04.11.2019
Approaching Healthcare Benefits Strategically
- Blog
04.11.2019
April is National Wellness Month
- Event
03.21.2019
Webinar | Federal Continuation Coverage
- Blog
03.15.2019
Five Ways Employee Benefits Are Advantageous for Smaller Businesses
- Event
02.21.2019
Webinar | FMLA & Employee Benefits
- Event
01.29.2019
Employment Law Landscape 2019
- Event
01.17.2019
Webinar: ACA Reporting Requirements
- Blog
01.16.2019
Understanding the Changes to Minnesota’s Whistleblower Act
- Blog
01.10.2019
2019: What to Expect in Employee Health & Benefits
- Event
12.20.2018
Webinar | 2018 Year in Review & Future Benefits Forecast
- Blog
12.20.2018
Making a List and Checking It Twice
- Event
12.14.2018
Webinar | Q4 2018 Health Care Reform Update
- Blog
12.12.2018
Can Telemedicine Make Health Care Benefits Healthier?
- Blog
12.03.2018
Employment Law Update: Minimum Wage Keeps Climbing
- Blog
11.29.2018
IRS Increase Health FSA Contribution Limit for 2019 & Adjusts Other Benefit Limits
- News
11.29.2018
Engaging Your Employees Requires Your Own Engagement
- Event
11.20.2018
Webinar | Back to Basics: Consumer-Based Plans 101
- Blog
11.08.2018
Four Steps Employers Can Take to Help Alleviate the Opioid Crisis
- Blog
11.02.2018
Compliance Update: HRAs Poised For a Facelift
- Blog
11.02.2018
Build a Positive Workplace Culture That Promotes Honest Communication
- Blog
10.25.2018
The Impact of Stress in the Workplace
- Event
10.18.2018
Webinar | Annual Required Notices
- Event
10.12.2018
Webinar | Q3 2018 Health Care Reform Update
- Blog
10.09.2018
IRS Releases Final 2018 ACA Reporting Forms and Instructions
- Blog
10.05.2018
What are the Government's Plans to Solve the Opioid Problem?
- Event
09.18.2018
The Opioid Epidemic: A Public Health Crisis
- Blog
09.17.2018
Is Marijuana the Answer to the Opioid Addiction Problem?
- Blog
09.12.2018
Compliance Update: Medical Loss Ratio Rebates Under the Affordable Care Act
- Blog
09.11.2018
2018 Stop-Loss Survey
- Event
09.06.2018
Webinar | Association Health Plans
- Blog
09.06.2018
Rule #1 For Effective Open Enrollment: Start Early
- Blog
08.21.2018
Tobacco: Still Affecting Businesses’ Financial Health
- Blog
08.17.2018
Open Enrollment: Ways to Control Costs
- Event
08.16.2018
Webinar | Surviving a DOL Audit
- Blog
08.07.2018
Open Enrollment: The Benefits of Smarter Communications
- Blog
08.06.2018
The Opioid Crisis: Using Alternative Approaches to Manage Pain
- Blog
07.25.2018
Is An EAP Worth The Investment?
- Blog
06.29.2018
The DOL's New Association Health Plan Rules and What They Actually Mean
- Event
06.21.2018
Webinar | 2018 Mid-Year Compliance Update
- Blog
05.30.2018
The Opioid Crisis: A Serious Societal and Business Issue
- Blog
12.27.2017
Employee Benefits in 2018
- Blog
10.13.2017
Telemedicine and HSAs
- Blog
10.06.2017
Data Breach Risks During Annual Enrollment
- Blog
09.26.2017
Annual Enrollment
- Event
03.14.2017
The Future of Health Care & Employee Benefits