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Employee Health & Benefits Trends: The Evolving Workforce

In today’s work environment, employees are shifting toward holistic benefits that support whole-person health and customization. To stand out in the market, employers can focus on delivering benefits solutions that are accessible and affordable to all the generations in their workplace.

What employees want from their benefits

While several generations of employees have different desires and obstacles, there are several trends these groups agree on. Across the generations, employees are under-engaged, concerned about the cost of living, and desire improved mental health services.

To address these concerns, companies can tailor benefits solutions focusing on whole-person health, which 95% of employers believe improves the employee experience and increases talent retention.* Additionally, pharmaceutical costs are rising, making it challenging for 1 in 3 employees to afford prescriptions.* When organizations optimize their benefits package, they can better control health care costs and reduce the financial burden on employees and employers.

Marsh McLennan Agency can help you identify and respond to the evolving expectations of your employees. Our extensive research uncovers what your workforce craves regarding benefits and care.

*2024 Employee Health & Benefits Trends: The Evolving Workforce

"Employers are facing an unprecedented set of challenges. Economic uncertainty, increased costs, and the ever-growing demand to retain top talent have created a perfect storm. In this era of change, it’s imperative for employers to reimagine their benefit offerings and prioritize the holistic well-being of their workforce."

Kate Moher, President of National Employee Health & Benefits, Marsh McLennan Agency

The power of holistic employee benefits

Dive into what employees desire from their benefits package by downloading our 2024 Employee Health & Benefits Trends report.

Download 2024 Employee Health & Benefits Trends: The Evolving Workforce and learn how we can help.

Previous Reports

The Six Realities of 2022

2023 Benefits Trends: The Evolving Workplace

Employee Benefits Trends FAQs

Tomorrow’s workforce is looking for more than a benefits plan. Employers that emphasize financial and mental well-being and pharmaceutical costs can help to keep employees engaged and healthy.

Future-focused HR departments and employers' priorities can include:

  • Centralization: To curb spending, tech platforms and human support options for HR teams will likely centralize over time.
  • Empathy: Organizations and employers that strive to support the individuals in their workplace.
  • Personalization: Give employees choices when it comes to their benefits.
  • Segmentation: Understand the different segments of employees and what they seek.

Employers’ focus on four key trends can optimize employee health and benefits plans.

Trend 1: 4 generations, 1 workforce
Each generation’s economic challenges, health care issues, and work attitudes shape their benefit expectations. However, across these groups, employees feel under-engaged, concerned about the cost of living, and want improved mental health services.

Trend 2: Better benefits, better talent
Benefits are critical in attracting and retaining top talent, with customization and flexibility being important elements of a company’s benefits package.

Trend 3: Whole-person health is here to stay
Many employees have come to expect whole-person health benefits to be part of their company’s health care offering. It focuses not just on physical health but also on mental and financial health.

Trend 4: Health care costs—the pressure is on
Health care costs are rising consistently, requiring many organizations to reevaluate their levels of transparency and optimization of data and pharmaceutical coverage.

One common pitfall for employers is focusing too much on benefits that employees don’t want or need. When companies are unaware of their workers’ problems or desires, they risk lacking benefits that support their employees.

Researching the types of health perks your employees want is beneficial to creating a benefits plan that serves your company well. Our 2024 Employee Benefits Trends report covers four key trends that showcase what employees seek from their employers. The report covers generational differences in coverage needs, how to attract and retain top talent, serving individuals with holistic health benefits, and methods to lower health care costs.