These macro events are fueling an enormous challenge for companies. They are spending more on benefits programs but getting less out of their investment and are failing to engage their people. After salaries, benefits are typically the second-biggest cost for a company, and they increase between 6% and 20% every year. And yet, companies keep adding more programs for workers, further adding to the cost, complexity and confusion of benefits programs. To give some perspective, we had one client who had more than two dozen health and wellbeing programs for its workers, but they were under-utilized, under-appreciated and confusing.
CEOs must take a different approach if they expect to differentiate themselves as employers, to attract and retain top talent, and to get the most out of their investment in their people.
We have entered a new era.
For the last 20-years, companies have been evaluated by the value they bring to their shareholders and customers. At Alight, we believe over the next decade, success will be measured by how companies treat their people.
So what does that mean for companies?
It means… treating employees like clients and customers.
It means…putting employees at the center.
It means…helping employees make the most of their benefits and pay.
It means… supporting workers in two of the most critical areas of their lives: their health and financial wellbeing.
Partnering with our clients, Alight is here to lead the way. When we help our clients take care of their people, we help them make an impact on their bottom lines and on the relationship their employees have with their benefits experience.
This fuels a virtuous cycle for employers and employees. Companies contribute in meaningful ways to the wellbeing of their employees, and in turn, employees are actively engaged and can help take their organizations to the next level…creating the opportunity for companies to invest even more in their people. Welcome to work that works for everyone.
Welcome to the employee economy.