Benefits management is a key aspect of running a successful organization. Providing a decent benefits package to your workforce directly contributes to employee engagement.

Here are 10 benefits management statistics, from different recent studies.

 

Benefits management stats you should know

  • Employers believe the most challenging issues in the year ahead are:
    • Attracting strong, competent management and dedicated, capable staff (33%);
    • Offering competitive compensation and benefits (31%)
    • High employee turnover (26%)
    • Developing employees and future leaders for succession (23%)
    • Building a positive brand and culture (20%)
    • Maintaining ongoing regulatory compliance (19%)
    • Measuring and managing employee performance (18%)
    • Managing the hiring process and tracking applicants (16%)
    • Creating operational efficiencies with overall HR administration (16%) (Oasis)

 

  • 47% of employers noted that controlling employee benefit costs was a top human resource priority (Gallagher)

 

  • 34% of organizations increased their benefits offerings in the past year (SHRM)

 

  • 51% of employers plan to increase their investments in on-site benefits (Randstad)

 

  • 90% of employers said the move to a benefits marketplace helped simplify their benefits administration process (WTW)

 

  • 20% of small businesses lack confidence in their organization’s ability to keep up with HR compliance (Paychex)

 

  • Roughly 30% of small business owners have increased their level of administration outsourcing in the last three years, and 24% believe outsourcing will be a top benefits strategy in the next five years (Guardian)

 

  • 77% of employers want a technology system that can manage all of their benefits on the same platform (LIMRA)

 

  • 82.37% of employees say their employer provides an employee self-service portal where they can access pay and benefits information online (APA)

 

  • 97% of employees preferred choosing their own benefits, rather than have their employer choose for them (WTW)

 

LOOKING FOR HR OUTSOURCING SOLUTIONS FOR YOUR WORKFORCE IN AFRICA?