The majority of employers around the world are concerned about the rising price of healthcare or medical insurance premiums for their staff, with those in the Americas most worried.
Six in 10 businesses from across the globe said they were concerned about increases in healthcare costs or premiums.
This rose to 69% in North America and 77% in Latin America, according to Willis Towers Watson’s 2021 Benefit Trends Survey.
It also found two thirds of employers planned to boost mental health support in the next two years, with 50% planning virtual mental or behavioural health support and 39% considering wellbeing apps.
More than half (54%) planned to improve physical health support and 41% had taken steps to enhance online medical services and plan more actions in this area.
When it came to cost control, using care navigation support (32%), condition specific care (30%) and managing fees or premiums paid to insurance providers and vendors (29%) were the most commonly mentioned options.
The survey polled 3,642 employers from North America, Latin America, EMEA and Asia Pacific during May and June this year.
Strategic priorities
Almost two-thirds of employers (65%) reported that integrating wellbeing into the benefit package is their top strategic objective.
Three quarters (73%) cited stress, burnout and mental health issues as their top workforce challenge – 86% in North America, 65% in EMEA, 84% in Latin America and 66% in Asia Pacific.
The survey also found employers were moving beyond financial metrics in assessing the success of their benefit strategy.
Improved employee wellbeing (62%) was cited as the top success measure of such strategies globally – 68% in North America, 61% in EMEA, 69% in Latin America and 56% in Asia Pacific.