June 23, 2021
McGriff today released its inaugural nationwide employee benefit trends survey providing key insights into the most important benefit trends — and how the pandemic is shaping those trends.
More than 750 responses were collected from employers across all major industries and all geographies. Key findings from the survey include:
- Employee well-being will be the lasting impact of the pandemic, employers say, with 77% believing there will be a lasting negative impact. In addition, 25% of employers plan to add more well-being programs if they haven’t done so already.
- Recruitment and retention are top priorities for all employers, with 3 out of every 4 survey respondents saying this is a top 3 priority for 2021.
- Despite 64% of employers saying they believe the pandemic will have a continued negative impact on the bottom line, employer commitment to benefit plan offerings has not waned; 97% of respondents have either maintained or increased medical benefit levels, and 21% are increasing voluntary benefits.
“We’re grateful to the employers who took the time to complete this comprehensive survey and provide McGriff with the data needed to perform a detailed analysis that employee benefits decision makers will greatly appreciate,” said Nick Pearce, Healthcare Actuary, Director of EB Insights & Analytics with McGriff.
“Now more than ever, employers need actionable data at their fingertips to help make the best benefits decisions for their organizations and their employees. With our inaugural report, we’re excited to share these insights and findings,” said Jon Trevisan, Sr. Vice President, National Employee Benefits Practice Leader for McGriff.
Click here to request a copy of the McGriff National Benefit Trends Survey.
A subsidiary of Truist Insurance Holdings, McGriff is a full-service insurance broker providing risk management and insurance solutions to clients across the United States. The firm’s coverages include commercial property and casualty, corporate bonding and surety services, cyber, management liability, captives and alternative risk transfer programs, small business, employee benefits, title insurance, personal lines, and life and health.
About Truist Insurance Holdings
Truist Insurance Holdings, Inc.(opens in a new tab), the sixth largest insurance broker in the U.S., is a wholly-owned subsidiary of Truist Bank. Truist Insurance Holdings operates more than 250 offices through its subsidiaries: McGriff Insurance Services, Inc.; CRC Insurance Services, Inc.; Crump Life Insurance Services, Inc.; AmRisc, LLC; and its Premium Finance companies (AFCO Credit Corporation, Prime Rate Premium Finance Corporation, Inc., and CAFO Inc.).
Insurance products and services offered through McGriff Insurance Services, Inc., a subsidiary of Truist Insurance Holdings, Inc., are not a deposit, not FDIC insured, not guaranteed by a bank, not insured by any federal government agency and may go down in value.
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