A majority of employers in Europe, the Middle East, and Africa (EMEA) cite cost as a barrier to employee choice programs that allow employees to exchange some or all of their existing employer-provided benefits, according to the EMEA Employee Choice in Benefits Survey 2014 of 636 employers in 17 countries by Mercer Marsh Benefits. Yet nearly two-thirds of respondents who had implemented a choice program stated that their organization experienced either no extra cost or in fact, a cost reduction.
“More employers are offering their employees a greater choice in selecting benefits due to the positive impact it has on talent management and costs,” says Damon Robinson, a Senior Associate in Mercer’s Health & Benefits business in the UK. “And not only are employees overwhelmingly satisfied, but many organizations are seeing a real cost-benefit. A market review of benefits on offer in an employer’s sector or location will allow HR directors who have been reluctant to embrace choice to identify if their organization is missing out on an important competitive advantage.”
Learn more about benefits trends in EMEA.
For more information about this study, view the summary of results webcast at http://www.mercer.com/events/webcasts/emea-employee-choice-survey-benefits-2014.html.