Benefits August 1, 2013

Health Benefits Will Be More Important to Employees

August 1, 2013 (PLANSPONSOR.com) – What kind of health insurance coverage a company offers will play a greater role in whether a person will work there, according to a survey by ADP Research Institute.
Reported by

The survey report, “The Role of Employer Benefits in Building a Competitive Workforce,” shows human resource (HR) and benefits decision-makers in companies of all sizes believe health insurance is and will play an important role in obtaining talent. Over the next five years, employers expect employer-provided insurance benefits will become more, not less, important to prospective employees.

Nearly half of decision-makers in small, mid-sized and large companies (45%, 45% and 48%, respectively) surveyed for the report believe health insurance will play a more important role in the next five years than it does today. Only 5% to 10% of decision-makers believe health insurance will be a less important factor over that same time frame.

The report also found:

  • Even in an environment of cost control and increasing health insurance premiums, HR and benefits leaders want to make their organizations’ benefits packages stronger competitive differentiators;
  • Nearly all HR and benefits decision-makers believe their organizations’ health insurance offerings are stronger or comparable relative to the market; and
  • Maintaining a strong outside-in view of the benefits market will help HR and benefits leaders keep their organizations ahead of the competition.

The report is the result of an online survey, conducted in 2012, of more than 700 HR and benefits decision-makers in U.S. organizations that offer medical insurance to employees. Those surveyed represented small, mid-sized and large companies.

Highlights of the report can be found here.

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