For employee benefits, in an evolving employment landscape, every year it seems that employees expect more perks and benefits, and employers have had to find strategies to contain these costs in light of inflationary pressures. With necessity being the mother of invention, in 2023 we are seeing more employers leverage cost-containment strategies and technological advancements to offer benefits that keep employees satisfied while reining in the costs.
The need to balance cost containment with an ever-growing list of employee needs is not just creating challenges for employers. It is also generating opportunities for employers to rethink elements of their entire “work sphere” in order to rein in costs, improve profitability, increase efficiency, drive productivity, enhance competitiveness, and keep employees satisfied.
In this report, you will get a more in-depth look at both emerging and entrenched insurance trends, significant market drivers, the impact on rates, and recommendations for how stakeholders in this marketplace can effectively move forward.
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