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ContentsIntroduction.Health Insurance Offerings.Health Care Spending Accounts.Employee Health Insurance Participation.Health Insurance Premiums.Voluntary Benefit Offerings and Participation.Conclusion.About Benefitfocus.Data Appendix.For more information,visithttps:/ we published our Benefitfocus State of Employee Benefits 2021 report,we explored how an evolving multi-generational workforce and the impact of COVID-19 affected health care costs and health plan design for large employers(1,000 employees).Now,this report focuses on the trends across midsize groups(100-999 employees)within our customer base.So,we asked ourselves:How did midsize employers respond to the same unique set of circumstances?How did their response compare to large employers?What does that mean for employees?As with the large employer data,we aggregated,anonymized and analyzed the last four years of annual fall enrollment data from midsize employer customers using our platform to answer these questions.The result is an unprecedented view of employee benefit insights and trends from both before and during a global pandemic for:Health Insurance Offerings Health Care Spending Accounts Employee Health Insurance Participation Health Insurance Premiums Voluntary Benefit Offerings and Participation1 Age groups used in this report:Generation Z(born after 1997),millennials(born 1981-1996),Generation X(born 1965-1980),baby boomers(born 1946-1964),and traditionalists(born 1945 or before).2 The phrases“the last four annual enrollment periods”and“the last four years”refer to the fall of 2017 through the fall of 2020 for effective dates of 1/1/18 and 1/1/21.42021.B,Inc.All Rights Reserved.Health Insurance OfferingsSince 2018,the difference in the percentage of midsize employers only offering traditional health insurance options and those offering a combination of traditional and high-deductible health plans(HDHPs)hasnt varied significantly,while the percentage of employers offering only an HDHP has dropped by half.3Figure 1.1:Average Annual Midsize Employer Health Insurance Offering,2018-2021In comparison,midsize employers are offering fewer choices when it comes to health insurance than large employers.HDHP PPOPPO OnlyHDHP Only0 0Pp 182019202020210 0P 18201920202021HDHP TraditionalTraditional OnlyHDHP Only(See Appendix Data Table 1)Figure 1.2:Average Annual Large Employer Health Insurance Offering,2018-20213“Traditional”plans defined as a PPO and/or an HMO.52021.B,Inc.All Rights Reserved.Health Care Spending AccountsSince 2018,the percentage of midsize employers offering at least one health care spending account option has increased by nearly 40 percent.More than half now offer both a health savings account(HSA)and flexible spending account(FSA).Figure 2.1:Average Annual Percentage of Midsize Employers Offering HSA/FSA,2018-2021FSA OnlyBothNone6%5%5%4221(TUSU%8%8%0 0 21202020192018HSA Only(See Appendix Data Table 2)Figure 2.2:Average Annual Percentage of Large Employers Offering HSA/FSA,2018-20214%4%5%5 #sqgd%7%7%8%8%0 0 21202020192018FSA OnlyBothNoneHSA Only(See Appendix Data Table 3)In comparison,midsize employers offer either an HSA only or an FSA only option at a higher rate than large employers.62021.B,Inc.All Rights Reserved.Employee Health Insurance ParticipationTraditional plans remained the most popular choice across generations compared to HDHPs for employees of midsize employers.However,enrollment overall is increasing for all generations except for traditionalists as theyre likely enrolled in Medicare or other coverage.Generation Z had the highest growth in participation across all plan types since 2018,while Gen Xers account for the most participation overall in employer-sponsored health insurance in 2021.Figure 3.1:Average Annual Employee Health Insurance Participation by Generation When at Least One HDHP and One Traditional Plan Are Offered,2018-20212%1%3%2#$&24128A33&%VRTRRIHDD6qr!$ 2agis%0 0 212020201920182021202020192018202120202019201820212020201920182021202020192018TraditionalistBaby BoomerGeneration XMillennialsGeneration ZHDHPTraditional No Election16 %(See Appendix Data Table 4)72021.B,Inc.All Rights Reserved.Health Insurance PremiumsOn average,health insurance premiums increased in 2021 for both midsize employers and employees across most plan types.However,employee premiums are considerably less than they were in 2018.This is likely because employers are taking on a higher percentage of the total premium from 2019 through 2021 for most plan types.This differs from large employers,who increased their share of the total premium only in 2021.4 Figure 4.1:Average Annual Employee and Employer Premium Contribution by Plan Type and Coverage Level,2018-202123$&)9AwvtsqqaY%0 0Pp0 2120202019201820212020201920182021202020192018202120202019201820212020201920182021202020192018FAMILYINDIVIDUALFAMILYINDIVIDUALFAMILYINDIVIDUALPPOHMOHDHPEmployee ContributionEmployer Contribution16%(See Appendix Data Tables 5 and 6)4Benefitfocus State of Employees Benefits 2021 Report,Large Employer Edition.82021.B,Inc.All Rights Reserved.Voluntary Benefit Offerings and ParticipationVoluntary benefit offerings for midsize employers have steadily increased since 2018,with hospital indemnity offerings nearly doubling from 15 percent to 28 percent.However,voluntary accident,critical illness,hospital indemnity and legal insurance offerings dropped slightly in 2021,while pet insurance and identity theft protection experienced growth during the same timeframe 27 percent and 12 percent respectively.Even with that growth,midsize employer voluntary benefit offering rates are significantly lower than those of the large employer groups,except for pet insurance.4 Figure 5.1:Average Annual Percentage of Employers Offering Voluntary Benefits,2018-20212018201920202021 25.6% 33.9% 91.2% 23.6%-2.3% 26.5%0 0P%Voluntary AccidentCriticalIllnessHospitalIndemnityIdentity TheftProtectionLegalInsurancePetInsurance(See Appendix Data Table 7)4Benefitfocus State of Employees Benefits 2021 Report,Large Employer Edition.92021.B,Inc.All Rights Reserved.Employee voluntary benefits participation rates continue to grow,especially since 2018.Participation in critical illness and pet insurance more than doubled.Voluntary accident participation also increased by 75 percent.Figure 5.2:Average Annual Percentage of Employee Participation in Voluntary Benefits,2018-202120182019202020210%5 %0%Voluntary AccidentCriticalIllnessHospitalIndemnityIdentity TheftProtectionLegalInsurancePetInsurance 74.4% 109.3% 15.7% 17.4% 21.6% 101.7%Voluntary Benefits Participation by GenerationGeneration X had the highest adoption across most voluntary benefits in 2021,apart from critical illness in which millennials lead by a small margin at one percent.Millennials follow as the second highest adopters in accident insurance,critical illness and pet insurance.Figure 5.3:Average Employee Participation in Voluntary Benefits(Income Protection and Specialty Benefits)by Generation,2021Baby BoomerGeneration XGeneration ZMillennialsTraditionalists3%4%5%6#$%6&%3!%2%1%1%3%0 0%Pet InsuranceLegal InsuranceIdentity Theft ProtectionHospital IndemnityCritical IllnessVoluntary Accident(See Appendix Data Table 8)(See Appendix Data Table 9)102021.B,Inc.All Rights Reserved.Voluntary Benefits Participation by Health Insurance TypeVoluntary benefits participation follows the large employer trend with similar adoption behavior,regardless of the medical plan employees elect.The adoption of voluntary accident plans by HMO participants is the exception with participation well above the average of those enrolled in other plan types at 41 percent.HMO participants are also less likely to adopt identity theft protection and legal insurance than HDHP and PPO subscribers.Figure 5.4:Average Employee Participation in Voluntary Benefits(Income Protection and Specialty Benefits)by Plan Type,2021(See Appendix Data Table 10)HDHPHMOPPO7$%3%9)A%5#%0 0%Pet InsuranceLegal InsuranceIdentity Theft ProtectionHospital IndemnityCritical IllnessVoluntary Accident112021.B,Inc.All Rights Reserved.Midsize employers appear to have kept health insurance offerings and premium cost-sharing trends consistent from 2018 through 2021,which is similar to what we saw in the large employer market.However,as large employers remained consistent in their effort to increase voluntary benefit offerings in 2021,midsize employers reduced these offerings.Employees,on the other hand,are showing greater demand for voluntary benefit products even those that are not employer funded in the face of financial uncertainty likely caused by the pandemic.OpportunityHealth care costs are projected to increase up to 10 percent in 2022,and the job market is beginning to rebound.5 Midsize employers need an efficient way to meet the expectations of employees for more flexible benefit packages not only to recruit and retain top talent,but also to improve the physical,financial and mental health of their employees and their families.Conclusion 5Medical Cost Trend:Behind the Numbers 2021.PwC Health Research Institute.Midsize EmployersBy partnering with health plans that offer sophisticated enrollment solutions for both medical coverage and supplemental voluntary benefits,midsize groups can streamline administration and deliver robust benefit packages through a single,seamless experience.Health PlansInvesting in a modern platform that integrates both quoting and enrollment for medical coverage alongside voluntary benefits will position health plans to support seamless administration for both brokers and employers.The willingness consumers have shown to adopt voluntary products also creates the opportunity to build new revenue streams.And as the full impact of the COVID-19 impact comes to light,the needs of consumers will evolve.A technology provider that has established integrations with trusted voluntary benefit suppliers can provide health plans with the ability to expand their product offerings without the need for developing new lines of business.This technology provider should also serve as a strategic partner,providing data insight and support to accelerate speed-to-market for in-demand products that meet employer and consumer expectations.122021.B,Inc.All Rights Reserved.The State of Employee Benefits 2021 was compiled from enrollment transactions aggregated across 144 midsize employers(100-999 full-time employees)within the Benefitfocus customer base,representing 244,000 individual consumers in total.The data was evaluated on an anonymous basis.Enrollment records include both active and passive enrollments made by a variety of industry roles(employee,carrier representative,broker,benefits administrator,etc.)from the fall of 2017 through fall of 2020 for effective dates of January 1,2018 through January 1,2021.These measurements are not meant to be a nationally representative sample,but to represent the aggregate activity for midsize employers on the Benefitfocus platform.“Family coverage”is defined as coverage levels that had at least one employee,one spouse/domestic partner and one child.For premium metrics,all averages are based on annual premium amounts.All dollar amounts have been rounded to the nearest whole dollar.All percentages,with limited exceptions,have been rounded to the nearest whole number within the report and single decimal within the appendix.Subscribers 17 years of age and younger have been removed.The data for insufficient sample sizes has been withheld.About the DataBenefitfocus(NASDAQ:BNFT)unifies the entire benefits industry through innovative technology solutions that bring efficiency,cost savings and simplicity to employee benefits administration.Our powerful cloud-based software,data-driven insights and thoughtfullydesigned services help employers,insurance brokers,health plans and suppliers address the complexity of benefits enrollment and engagement,while bringing easier access to health,wealth and lifestyle products througha world-class benefits experience.Our mission is simple:to improve lives with benefits.Learn more at ,LinkedIn,Facebook,Instagramand Twitter.Benefitfocus is not an actuarial firm,and Benefitfocus is not acting as an actuary or determining any actuarial basis for employer benefit offerings.Benefitfocus does not underwrite insurance and does not give legal advice regarding the adequacy of coverage limits or types.This report is not a substitute for the advice of an attorney,tax,actuarial or other professional advisors.2021.B,IncA005-0521About Benefitfocus142021.B,Inc.All Rights Reserved.Data tables include year-over-year percent change from 2020-2021,as well as since 2018 for comparison.Table 1:Average Annual Midsize Employer Health Insurance Offering,2018-2021Plan Type2018201920202021Percent Change Since 2018Percent Change Since 2020Traditional Only46.4PG.9I.3% 2.8% 6.1%HDHP Only6%3.8%4.1%2.9%-29.5%-51.3%Both47.6F.3G.9G.8%-0.2% 0.4%Table 2:Average Annual Percentage of Midsize Employers Offering HSA/FSA,2018-2021Offering2018201920202021Percent Change Since 2020Percent Change Since 2018HSA Only3.8%4.8%5.4%5.7% 6.5% 51%FSA Only28.41.12.42.3%-0.3% 13.5%Both54.7R.7T.7S.7%-1.8%-1.8%None13.4%7.5%8.3% 9.7%-36.5%Table 3:Average Annual Percentage of Large Employers Offering HSA/FSA,2018-2021 Offering2018201920202021Percent Change Since 2020Percent Change Since 2018HSA Only5.5%4.8%4.3%3.8%-11.3%-30.1%FSA Only22.9 .4.3.6%-3.9%-27.5%Both63.5g.2q.5r.5% 1.5% 14.1%None8.1%7.6%6.9%7% 1.6%-12.8ta Appendix152021.B,Inc.All Rights Reserved.Table 4:Annual Employee Health Insurance Participation by Generation When at Least One HDHP and One Traditional Plan Are Offered,2018-2021GenerationHealth Insurance Plan2018201920202021Percent Change Since 2020Percent Change Since 2018Generation ZHDHP16.4.2 .1 .2% 0.4% 22.9%Traditional10.5.4.8.7% 45.7% 77.2%No Election73i.4g.1a.2%-8.9%-16.3%MillennialsHDHP32.63.3.78.2%-6.2% 17%Traditional35.69.79.8D.4% 11.6% 24.8%No Election31.8.6.5%-10.7%-45.1%Generation XHDHP31.60.64.31.9%-6.9% 0.9%Traditional44.4G.6H.5R.3% 7.9% 17.9%No Election24!.8.2.8%-8.4%-34.3by BoomerHDHP25.6#.8&.6#.4%-12.2%-8.8%Traditional52S.9R.1V% 7.4% 7.6%No Election22.3.2!.2 .6%-2.8%-7.6%TraditionalistHDHP2.2%2.6%1.1%1.9% 72.7%-13.6%Traditional25.5&.5.5%-11.6%-39.3%No Election72.3q.4.4.7% 1.6% 14.3%Table 5:Annual Employee Premium Contribution by Plan Type and Coverage Level,2018-2021Plan TypeCoverage Type2018201920202021Percent Change Since 2020Percent Change Since 2018HDHPFamily$4,233.25$3,386.68$3,678.35$3,813.70 3.7%-9.9%Individual$1,006.11$930.33$760.64$763.49 0.4%-24.1%HMOFamily$6,199.72$5,863.32$5,309.83$5,241.52-1.3%-15.5%Individual$1,274.57$1,245.40$1,130.92$1,192.87 5.5%-6.4%PPOFamily$4,970.47$4,926.05$4,792.54$4,899.32 2.2%-1.4%Individual$1,559.34$1,525.09$1,433.13$1,429.77-0.2%-8.3%Table 6:Annual Employer Premium Contribution by Plan Type and Coverage Level,2018-2021Plan TypeCoverage Type2018201920202021Percent Change Since 2020Percent Change Since 2018HDHPFamily$15,682.40$14,997.59$16,600.14$17,275.90 4.1% 10.2%Individual$5,508.44$5,391.52$5,501.80$5,786.79 5.2% 5.1%HMOFamily$14,582.15$14,807.09$16,497.03$16,790.08 1.8% 15.1%Individual$5,663.07$5,664.08$5,982.89$6,273.17 4.9% 10.8%PPOFamily$15,150.01$15,334.40$18,364.41$18,906.90 3.0% 24.8%Individual$5,295.38$5,325.18$6,232.82$6,530.26 4.8% 23.32021.B,Inc.All Rights Reserved.Table 7:Average Annual Percentage of Employers Offering Voluntary Benefits,2018-2021Benefit Type2018201920202021Percent Change Since 2020Percent Change Since 2018Voluntary Accident36.3E.7IE.6%-6.9% 25.6%Critical Illness31.6A.6C.9B.3%-3.6% 33.9%Hospital Indemnity14.7.30.2(.1%-7% 91.2%Identity Theft Protection14.6.5.3% 11.6% 23.6%Legal Insurance17.7.6.7.3%-2.3%-2.3%Pet Insurance14.7.2.7.6% 26.5% 26.5%Table 8:Average Annual Percentage of Employee Participation in Voluntary Benefits,2018-2021Benefit Type2018201920202021Percent Change Since 2020Percent Change Since 2018Voluntary Accident14.1.1!.4$.6% 14.9% 74.4%Critical Illness10.4.9.2!.8% 43.7% 109.3%Hospital Indemnity8.0%8.5%9.5%9.2%-2.7% 15.7%Identity Theft Protection11.9.3.3.0% 5.2% 17.4%Legal Insurance14.4.9.1.5% 2.3% 21.6%Pet Insurance2.4%3.0%4.1%4.9% 20.5% 101.7%Table 9:Average Employee Participation in Voluntary Benefits by Generation,2021Benefit TypeGeneration ZMillennialsGeneration XBaby BoomerTraditionalistVoluntary Accident13.3#.7&.2!.0%2.7%Critical Illness13.3.5.1.5%1.2%Hospital Indemnity4.7.1.9.8%1.3%Identity Theft Protection12.6.2.3.6%2.0%Legal Insurance3.7.5.5.8%0.0%Pet Insurance3.0%5.8%6.2%2.7%0.02021.B,Inc.All Rights Reserved.Table 10:Voluntary Benefits Participation by Health Insurance Type,2021Benefit TypePlan Type2021Voluntary AccidentHDHP24.3%HMO41.2%PPO26.5%Critical IllnessHDHP23.9%HMO29.1%PPO23.1%Hospital IndemnityHDHP13.8%HMO9.3%PPO12.2%Identity Theft ProtectionHDHP18.1%HMO9.9%PPO23.4%Legal InsuranceHDHP18%HMO12.1%PPO18.4%Pet InsuranceHDHP6.6%HMO3.2%PPO4.8%
2022-11-24
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12Across every industry,employees have had to revisit and re-evaluate the fundamentals laid down by .
2022-11-24
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2021S EBoContentsTrends and Insights Following a Year of Disruption.Executive Summary.Employer Benefit Offerings.Health Plan Premiums and Out-of-Pocket Costs.Health Plan Participation.Voluntary Benefits Participation.Looking Ahead.About the Data.About Benefitfocus.Appendix.For more information,visithttps:/ and Insights Following a Year of DisruptionBenefitfocus is pleased to present the State of Employee Benefits 2021 report the latest of our original series established in 2016.This years report has been expanded to include four years of employee benefit plan design and participation,highlighting key trends that are shaping the future.But first,here are a few things you should know about the report.Real benefits data,real employee behavior.This report is not a survey.Most reports on employee benefits are based on survey responses from a sample of a few thousand employees or administrators.While these surveys can be helpful trend indicators,they lack precision due to their reliance on retrospective,self-reported,algorithm-enhanced data.The State of Employee Benefits is different.Weve aggregated,anonymized and analyzed 3.5 million actual enrollment records from our large employer customers(1,000 employees).Both the nature and scope of the data make this report a one-of-a-kind look at employee benefits data and decisions what benefit plans employers are offering,which plans employees are selecting,what its costing and more.Who is this report intended to serve?This report is for anyone seeking valuable insight into employee benefit trends over the last four years,with specific focus on the impacts of COVID-19.This includes benefit managers and administrators,HR executives,financial executives,insurance carriers,brokers,consultants,third-party administrators,policymakers,the media,and any other party who finds this information valuable or would simply like to read about employee benefits data and employee enrollment behavior.2021:The year after Not only does this years report provide insight into employee enrollment behavior for the last four years,its also our first benchmarking report following 2020 the year that brought us COVID-19.As with our previous reports,youll see analysis of a robust data set illustrated through graphs and appending tables.But youll also see trends leading up to and following the onset of COVID-19 for benefit plan design and participation.42021.B,Inc.All Rights Reserved.Executive SummaryIf we look back just a couple of years,the employee benefits scene was slightly different than what were seeing today.The lowest unemployment rate since the 1960s,rising health care costs and an increasingly diverse workforce left employers to perform a balancing act between controlling costs and offering competitive benefits packages.Fast forward three years to an unprecedented global pandemic,and the plot has twisted.While employers are still concerned with mitigating costs,their focus has shifted to uncertainty.The potential of layoffs,furloughs and budget cuts loomed as they responded to the financial impact of COVID-19.On top of that,many employers were forced to conduct a fully virtual benefits enrollment process for the first time ever.So how,and to what extent,did this impact benefit plan offerings and employee enrollment decisions?To answer this question,we looked to the data collected on our platform from the last four fall annual enrollment periods.We analyzed records from more than 3.5 million employees across nearly 350 large employers(1,000 employees)from the last four years.1 Heres what we found:1The phrases“the last four annual enrollment periods”and“the last four years”refer to the fall of 2017 through the fall of 2020 for effective dates of 1/1/18 and 1/1/21.52021.B,Inc.All Rights Reserved.Employers are expanding benefit packages to address diverse needs within a multi-generational workforce.Nearly three quarters of large employer groups offered a mix of traditional health plans(PPOs)and high-deductible health plans(HDHPs)for 2021,moving away from single health plan strategies.Voluntary benefit offerings continued to expand specifically income protection benefits as a way to supplement core coverage and provide greater flexibility and choice.Employee health plan premiums saw moderate growth as employers took on more of the cost burden in 2021.While employee health plan premiums only saw a slight increase between 2020 and 2021,employers are paying more as a percentage of the total premium in 2021.HDHPs are catching up to traditional PPOs in popularity among employees.PPOs are still the health plan of choice among employees,however HDHPs have grown in popularity across the board,with participation up 30 percent since 2018.Consumer-directed health care accounts appeal to younger employees,in particular.Since 2018,the percentage of Gen Zers with a health savings account(HSA)has more than doubled.Gen Zers,millennials and Gen Xers increased HSA contributions by 10 percent or more in 2021.2 Supplemental benefits gained significant traction among employees.Over the last four years,employee participation in hospital indemnity plans has more than doubled and increased by 13 percent in 2021 alone.Participation in both critical illness and accident plans has grown by 65 percent or more since 2018 as well.2Age groups use in this report:Generation Z(born after 1997),millennials(born 1981-1996),Generation X(born 1965-1980),baby boomers(born 1946-1964),and traditionalists(born 1945 or before).62021.B,Inc.All Rights Reserved.Employer Benefit OfferingsEmployers are providing more robust and flexible benefit packages as they look to strike a balance between cost-sharing and meeting the increasingly diverse needs of a multi-generational workforce.We continue to observe a shift away from a single health plan strategy to offering more health plan options as well as supplemental coverage to support employees total wellbeing.Health Plan OfferingsThe percentage of large employer groups that offer at least one traditional health plan(PPO)and one HDHP has grown steadily since 2018.Almost three quarters of large employer groups offered a combination of both in 2021,an increase from 65 percent in 2018.At the same time,the percentage of employers offering HDHPs exclusively dropped by 24 percent,while employers offering only PPOs fell by more than 16 percent in the same timeframe.Figure 1.1:Annual Employer Health Plan Offering,2018-2021HDHP PPOPPO OnlyHDHP Only0 0Pp 18201920202021The percentage of employers offering a combination of HDHPs and PPOs has increased to 71 percent.(See Appendix Table 1)Impact of Cadillac Tax RepealUp until 2019,the threat of the ACAs“Cadillac tax”which would effectively limit richer employer-funded health care plans loomed over employers.Many had adjusted by diversifying their offerings specifically to include HDHPs.Despite the repeal of the Cadillac tax,employers remain interested in making their health plans more efficient and see value in shifting costs with HDHPs.72021.B,Inc.All Rights Reserved.Voluntary Benefit OfferingsBefore the COVID-19 pandemic,employers offered voluntary benefits as part of a total compensation package to attract and retain top talent in a competitive job market.Now,in the post-pandemic world,voluntary income protection benefits such as accident,critical illness and hospital indemnity insurance,as well as certain specialty benefit products,have become vital to protect employees against the unexpected and to support their total wellbeing.Large employers have steadily increased their voluntary income protection benefits since 2018,with more than two-thirds offering accident and critical illness plans in 2021,and nearly 50 percent now offering hospital indemnity insurance.Specialty products,including identity theft protection,legal insurance and pet insurance,have experienced even higher growth in employer offerings since 2018,with identity theft protection and pet insurance increasing by more than 17 percent over the last year.Figure 1.2:Average Annual Percentage of Employers Offering Income Protection Benefits,2018-20210 0Pp%VoluntaryAccidentCriticalIllnessHospitalIndemnity2018201920202021(See Appendix Table 2)82021.B,Inc.All Rights Reserved.Its clear that employers are continuing to explore ways to supplement medical coverage and enhance the value they provide their employees through benefits.As employers work with their brokers and consultants to develop the right strategies for their business,having on-demand insight into their workforce,benefit participation and plan performance is key to the decision-making process.Seamless integrations,simplified billing processes and an intuitive enrollment experience can also simplify the introduction and administration of any new benefits successful.0 0%Identity TheftProtectionLegalInsurancePet Insurance2018201920202021Both income protection and specialty product offerings have increased steadily since 2018,an increase of almost 40 percent or more across the board.(See Appendix Table 3)Figure 1.3:Average Annual Percentage of Employers Offering Specialty Voluntary Benefits,2018-202192021.B,Inc.All Rights Reserved.Employer-paid premiums are increasing at a faster rate than employee premiums,with the exception of HDHP family coverage.(See Appendix Tables 4 and 5)Over the last four years,employers continued to apply cost-sharing techniques across health plan premiums,deductibles and out-of-pocket(OOP)maximums as a means to keep health plans affordable for both their organization and their employees.Despite predictions that COVID-19 would cause spikes in health care premiums,growth in costs were moderate for most plan types.Most employees have experienced an increase in the dollar amount theyre paying for health plan premiums each of the last four years.Premiums for family coverage have increased by 14 percent for HDHP subscribers and nine percent for PPO subscribers.Individual HDHP subscribers actually saw a four percent decline in premiums,while premiums for individual PPO plans went the opposite direction with a four percent increase since 2018.However,employees are contributing slightly less of a percentage of total premium in 2021 than they did in 2020(with the exception of family-coverage HDHPs,which only increased by less than one percent).This is the first time any health plan has seen a decrease in employee cost-sharing since 2018.Figure 2.1:Average Annual Employee and Employer Premium Contribution,by Plan Type and Coverage Level,2018-2021$16,200$16,189$17,539$18,194$5,618$5,582$5,392$5,588$15,518$15,705$16,678$17,611$5,253$5,273$5,587$6,028$3,538$3,531$3,856$4,023$904$911$868$868$4,922$4,940$5,246$5,353$1,568$1,560$1,651$1,634 0 0Pp0 18201920202021201820192020202120182019202020212018201920202021FAMILYINDIVIDUALFAMILYINDIVIDUALHDHPPPOAverage Employer PremiumAverage Employee PremiumHealth Plan Premiums and Out-of-Pocket Costs102021.B,Inc.All Rights Reserved.Overall,employees have experienced minimal change in their out-of-pocket cost exposure for health care.In fact,OOP maximums actually decreased slightly for PPO subscribers from 2020 to 2021.Deductibles remained steady as a percentage of OOP maximums across all four years,which is just over 50 percent for HDHPs and just under 30 percent for PPOs.Figure 2.2:Average Annual Individual Deductible and OOP Maximum Trend by Plan Type,2018-2021Average DeductibleAverage OOP Max$2,311$2,239$2,256$2,195$885$874$902$882$4,443$4,398$4,391$4,371$3,226$3,251$3,252$3,1530 0Pp0 21 2020 2019 2018 2021 2020 2019 2018PPOHDHPIndividual HDHP deductibles and OOP maximums have increased the most since 2018,but only slightly higher than other plan types since 2020.(See Appendix Table 6)112021.B,Inc.All Rights Reserved.Average DeductibleAverage OOP Max$4,684$4,525$4,581$4,409$1,905$1,861$1,944$1,901$8,708$8,618$8,656$8,604$6,959$6,964$7,076$6,7740 0Pp0 21 2020 2019 2018 2021 2020 2019 2018PPOHDHPFamily deductibles and OOP maximums remained steady with slight growth in both HDHP and PPO plans since 2020.(See Appendix Table 6)Figure 2.3:Average Annual Family Deductible and OOP Maximum Trend by Plan Type,2018-2021Employers appear more willing to take on a greater share of the premium for HDHPs than PPOs,but health care costs continue to increase across the board and the impact of COVID-19 is still uncertain.Consumer-directed health care accounts and voluntary benefits can help limit the financial burden for employees.122021.B,Inc.All Rights Reserved.Health Plan ParticipationThe limited out-of-pocket exposure of traditional PPOs has made them the plan of choice for a long time,which held true through 2021.However,HDHPs,paired with health savings accounts(HSAs),are gaining traction as theyve become more ingrained in the health care landscape.More specifically,younger employees,who are typically healthier and less risk-averse,are opting for the lower premiums offered by an HDHP.Health Plan ParticipationWhen given the choice between a PPO and an HDHP,employees are increasingly opting for the latter,with HDHP participation up 30 percent since 2018.Participation in HDHPs continues to be highest among millennials,although Gen Xers and baby boomers are showing an increased appetite for HDHPs,with participation up more than 20 percent since 2018.As the newest entrants to the workforce,Gen Zers saw the largest uptick in participation for PPOs and HDHPs.Overall,participation for this group is still relatively low as they remain eligible for their parents health plans until age 26.25$139788%0.0%5.0.0.0 .0%.00.05.0.0E.0 18201920202021Average of HDHPparticipation rateAverage of traditionalparticipation rateCompared to HDHPs,PPOs are still the more popular plan choice among employees,but that gap has narrowed in recent years.(See Appendix Table 7)Figure 3.1:Health Plan Participation Trend When at Least One HDHP and One PPO Are Offered by an Employer,2018-2021132021.B,Inc.All Rights Reserved.Figure 3.2:HDHP Participation Trend by Generation When at Least One HDHP and One PPO Are Offered by an Employer,2018-20200%5 %05E 18201920202021Generation ZMillennialsGeneration XBaby BoomerTraditionalistsMillennials and Gen Xers have the highest adoption of HDHPs,while Gen Zers account for the highest growth in HDHP participation since 2018.(See Appendix Table 8)142021.B,Inc.All Rights Reserved.Health Savings AccountsThe increase in HDHP adoption has naturally led to an overall increase in HSA participation.These accounts are a valuable tool to fund out-of-pocket costs and build savings with pre-tax dollars.More than 90 percent of HDHP subscribers opted into an HSA for 2021,up from 83 percent in 2018.Consistent with the trend in HDHP adoption by generation,HSA participation has increased most significantly among younger employees,with millennials having the highest participation at 31 percent in 2021.Participation doubled among Generation Z,though total participation still remains under 10 percent.Figure 3.3:Annual Total HSA Employee Participation,2018-2021HSA Participation Rate84tvx 18201920202021HSA participation increased significantly since 2018.(See Appendix Table 9)Figure 3.4:Annual HSA Participation Among Eligible Employees by Generation,2018-2021Baby BoomerGeneration XGeneration ZMillennialsTraditionalists0%5 %05 18201920202021Gen Zers and millennials had the highest increase in HSA participation since 2018.(See Appendix Table 10)152021.B,Inc.All Rights Reserved.Overall,employees have contributed more to their HSAs each of the last four years,with the most significant increases coming between 2020 and 2021 for both family-and individual-coverage accounts.However,contributions are still below the 2021 limits set forth by the IRS.When considering employee contributions alone,employees with a family HSA contributed less than 50 percent of the maximum allowed in 2021 on average,while employees with an individual HSA contributed just over 50 percent of the maximum.Employer contributions have remained relatively steady over the last four years.When combined with employee contributions in 2021,the total contribution is 62 percent of the maximum allowed contribution for family HSAs and 67 percent for individual HSAs.Interestingly,the average total contribution for families is slightly less than the average family HDHP deductible,whereas the average total contribution for individuals exceeds the average individual HDHP deductible.Figure 3.5:Average Employee and Employer HSA Contribution for Individual and Family Coverage,2021Average Employee ContributionAverage Employer ContributionAverage Gap to Max Contribution$3,310$1,818$1,137$612$2,752$1,1700 0Pp0milyIndividualTotal contributions for family-coverage HSAs are closer to the 2021 IRS limits than individual-coverage HSAs.(See Appendix Tables 11 and 12)When looking across generations,younger employees with families had the highest growth in HSA contributions since 2018.Gen Zers nearly doubled family HSA contributions since 2018 and increased contributions by 42 percent in the last year alone.For 2021,millennials and Gen Xers contributed the most in actual dollar amount for family HSAs,while baby boomers and traditionalists contributed the highest amount for individual HSAs.162021.B,Inc.All Rights Reserved.Figure 3.6:Average Employee HSA Contribution Trend for Individual Coverage by Generation,2018-20212018201920202021$0$500$1,000$1,500$2,000$2,500$3,000Gen ZMillenialGen XBaby BoomerTraditionalistFigure 3.7:Average Employee HSA Contribution Trend for Family Coverage by Generation,2018-20212018201920202021$0$500$1,000$1,500$2,000$2,500$3,000$3,500Gen ZMillenialGen XBaby BoomerTraditionalistHSA contributions increased for both family and individual accounts across each generation since 2018,except for a 14 percent decrease among traditionalists with individual HSAs in 2021.(See Appendix Table 13)Employees appear to be getting more comfortable with the combination of an HDHP and HSA especially younger employees.172021.B,Inc.All Rights Reserved.Employers are ramping up their voluntary and specialty benefit offerings to enhance their total compensation packages and help protect their employees financial wellbeing.More and more,employees appear to be understanding the value of these plans to protect against unexpected events that result in unplanned expenses.Employee participation has increased in voluntary accident,critical illness and hospital indemnity insurance since 2018,with participation in hospital indemnity doubling.Accident insurance saw the second-highest participation growth with an increase of 76 percent,followed by critical illness at 64 percent.Hospital indemnity also had the highest growth between 2020 and 2021,at 13 percent,but critical illness and accident remain well ahead in terms of overall participation.Specialty products have also increased in popularity over the last four years.Identity theft protection experienced the most participation growth,with a 19 percent increase since 2018.Pet insurance saw the highest participation growth among these options from 2020 to 2021,with a seven percent increase,but remains behind the others in terms of overall participation.Figure 4.1:Trend in Employees Participating in Income Protection Benefits,2018-202120182019202020210%5 %Voluntary AccidentCriticalIllnessHospitalIndemnity(See Appendix Table 14)Voluntary Benefits Participation182021.B,Inc.All Rights Reserved.Figure 4.2:Trend in Employees Participating in Specialty Voluntary Benefits,2018-202120182019202020210%5%Indentity TheftProtectionLegalInsurancePetInsuranceEmployee participation in voluntary income protection and specialty benefit products have increased since 2018.(See Appendix Table 15)PPO ParticipationHDHP Participation5 46%5#74%Pet InsuranceLegal InsuranceIdentity TheftHospital IndemnityCritical IllnessVoluntary AccidentVoluntary income protection benefits are often positioned to HDHP subscribers as a way to lessen the burden of the higher out-of-pocket costs.However,when comparing voluntary benefit elections of HDHP subscribers and PPO subscribers in 2021,participation rates were nearly even for all types of voluntary benefits.Based on the data,employees appear to be looking for financial security beyond just medical coverage,and the underlying reasons vary widely.Figure 4.3:Employee Participation in Voluntary Benefits(Income Protection Products and Specialty Products)by Health Plan Type in 2021Health plan choice doesnt appear to impact whether or not employees elect voluntary benefits.(See Appendix Table 16)192021.B,Inc.All Rights Reserved.Another trend highlighting employees demand for financial protection is the growth in the average number of voluntary benefits elected.In 2018,more than 60 percent of employees selected three or fewer of voluntary benefits.That has shifted to almost 60 percent of employees selecting four or more income protection and/or specialty products in 2021.Figure 4.4:Yearly Trend of Number of Voluntary Benefits Selected When Employee Selects at Least One Voluntary Benefit(Income Protection and Specialty Products).12345626(%!$7)(%2%4%9%9%0 0Pp0 18201920202021Employees are increasingly selecting more voluntary benefits.(See Appendix Table 17)Voluntary benefits offer an efficient way for employees to supplement out-of-pocket medical costs and build financial security.However,with more and more options competing for employees attention and budgets,they must have guidance in selecting the plans that make the most sense for their unique situation.Employers will need to educate employees on how the existing and emerging benefits they offer can build long-term resilience.Overall,employer benefit offerings and enrollment trends stayed on par with previous years,despite COVID-19.There was a clear upward trend for expanding benefit offerings as a way to differentiate in a competitive job market leading up to 2020.If anything,employers took a more paternalistic approach for 2021,continuing to offer more benefits and absorbing health plan cost increases to keep things consistent for employees.At the same time,employees took more advantage of savings opportunities and income protection.Conclusion202021.B,Inc.All Rights Reserved.Visibility into health care claims is necessary to identify and mitigate cost-drivers.Health care costs are expected to keep rising,and the long-term effects of COVID-19 on employer-sponsored health plans are still unknown.Whether its an increase in chronic illness or a surge in previously delayed surgical procedures,employers will need ready access to data and insights to help make informed,proactive decisions to address whatever challenges arise in the wake of the pandemic.The ability to identify and track trends in health care claims will help employers gather information on the effectiveness of their health plan strategy and employee health plan utilization.With on-demand reporting and analytics,employers can more easily identify whats driving their costs,understand potential risks and coverage gaps,and ultimately develop smarter plans and programs to build and support a happier and healthier workforce.Flexible and diverse benefits should be a priority for employers.Understanding the specific needs and demands of employees is key for employers to curate a comprehensive benefits package that enables employees to build health and resiliency physically,financially and mentally.Now is the time to focus on providing options to support their unique needs,especially those that are emphasized as a result of the COVID-19 pandemic,including additional income protection options,telemedicine,mental health benefits and more.Again,access to data analytics along with complementary consulting is essential for employers to not only identify which products and services to implement,but also measure performance and effectiveness of those programs.By investing in a benefits management platform that seamlessly integrates voluntary benefits and analytics capabilities,employers can not only streamline the roll out and administration of new programs,but also track participation in such programs and assess the impact they have on employee behavior.Value-added services from vendor partners can further amplify efforts to drive behavior change and improve employee total wellbeing.Improving employee health requires effective communication and engagement.COVID-19 has put health care and financial wellness front and center for most Americans.And as employers roll out new health plan and benefit strategies,theres a critical need to help employees navigate the complexity and understand the full breadth of options.This goes beyond basic health literacy to helping employees optimize their benefits investment from choosing the right medical plan and supplemental coverage to being proactive about preventive care.HR and benefit leaders must create and implement purposeful communication campaigns that help employees truly engage in their benefits throughout the year.This requires a benefits platform that enables them to target messages and reach employees where they are with timely information in an easily consumable format,including mobile alerts,impactful emails and video.More importantly,providing education at the point of decision during enrollment as well as at the point of care can help drive smarter enrollment and utilization decisions.Looking Ahead212021.B,Inc.All Rights Reserved.The State of Employee Benefits 2021 was compiled from enrollment transactions aggregated across 343 large employers(1,000 full-time employees)within the Benefitfocus customer base,representing 3.5 million individual consumers in total.The data was evaluated on an anonymous basis.Enrollment records include both active and passive enrollments made by a variety of industry roles(employee,carrier representative,broker,benefits administrator,etc.)from the fall of 2017 through fall of 2020 for effective dates of January 1,2018 and January 1,2021.These measurements are not meant to be a nationally representative sample,but to represent the aggregate activity for large employers on the Benefitfocus platform.“Family coverage”is defined as coverage levels that had at least one employee,one spouse/domestic partner and one child.For premium metrics,all averages are annual premium amounts.All dollar amounts have been rounded to the nearest whole dollar.All percentages,with limited exceptions,have been rounded to the nearest whole number within the report and single decimal within the appendix.Subscribers 17 years of age and under have been removed.The data for insufficient sample sizes has been withheld.Annual Generational Representation,2018-2021Baby BoomerGeneration XGeneration ZMillennialsTraditionalists20%2%2%2%2 212020201920183779%71021out the DataBenefitfocus(NASDAQ:BNFT)provides technology and services that improve the way employers of all sizes manage their benefits investment.Through a combination of powerful cloud-based software,data-driven insights and thoughtfully-designed services,we provide employers,their brokers and insurance carriers with a single suite of solutions to deliver a world-class benefits experience.Learn more at https:/ is not an actuarial firm,and Benefitfocus is not acting as an actuary or determining any actuarial basis for employer benefit offerings.Benefitfocus does not underwrite insurance and does not give legal advice regarding the adequacy of coverage limits or types.This report is not a substitute for the advice of an attorney,tax,actuarial or other professional advisors.2021.B,IncA004-0721About Benefitfocus232021.B,Inc.All Rights Reserved.For the purposes of graphical reference,“trend”refers to the average annual data findings from the fall of 2017 through fall of 2020 for effective dates of 1/1/18 and 1/1/21.In addition,data tables include year-over-year percent change from 2020-2021,as well as since 2018 for comparison.Table 1:Average Annual Employer Health Plan Offering,2018-2021 Employer Plan Offering2018201920202021Percent Change Since 2021Percent Change Since 2018Both65.3h.3q.1q.4% 0.4% 9.37%Only HDHP4.8%4.2%3.9%3.7%-5.7%-23.3%Only PPO29.9.6%$.9%-0.3%-16.7%Table 2:Average Annual Percentage of Employers Offering Voluntary Income Protection Benefits,2018-2021 Voluntary Benefit2018201920202021Percent Change Since 2020Percent Change Since 2018Voluntary Accident48.5T.5c.0g.6% 7.4% 39.6%Critical Illness47.6S.7a.8f.7% 7.8% 40.0%Hospital Indemnity29.64.7B.5G.9% 12.7% 61.9%Table 3:Average Annual Percentage of Employers Offering Specialty Voluntary Benefits,2018-2021 Voluntary Benefit2018201920202021Percent Change Since 2020Percent Change Since 2018Indentity Theft Protection20.8%.9).54.6% 17.5% 66.1%Legal Insurance25.4).24.77.5% 8.2% 48.1%Pet Insurance11.8.2.9!.0% 17.4% 77.8%Table 4:Average Annual Employee Health Plan Premium Contribution by Plan Type and Coverage,2018-2021 LevelHealth PlanPlan Type2018201920202021Percent Change Since 2020Percent Change Since 2018HDHPFamily$3,537.64$3,530.50$3,856.14$4,023.23 4.3% 13.7%Individual$904.39$910.83$867.69$868.09 0.1%-4%PPOFamily$4,921.80$4,940.25$5,246.15$5,353.19 2% 8.8%Individual$1,568.03$1,560.17$1,650.87$1,633.70-1% 4.2%Appendix242021.B,Inc.All Rights Reserved.Table 5:Average Annual Employer Health Plan Premium Contribution by Plan Type and Coverage Level,2018-2021Health PlanPlan Type2018201920202021Percent Change Since 2020Percent Change Since 2018HDHPFamily$16,200.28$16,189.18$17,539.22$18,194.28 3.7% 12.3%Individual$5,617.93$5,582.33$5,392.26$5,587.87 3.6%-0.5%PPOFamily$15,517.78$15,704.75$16,677.86$17,610.96 5.6% 13.5%Individual$5,252.74$5,272.71$5,587.24$6,027.75 7.9% 14.8%Table 6:Average Annual Health Plan Deductible and Out-of-Pocket Maximum by Plan Type and Coverage Level,2018-2021 Plan Type2018201920202021Percent Change Since 2020Percent Change Since 2018HDHPIndividual Deductible$2,195.07$2,256.40$2,239.24$2,311.29 3.2% 5.3%OOP Max$4,371.08$4,390.57$4,398.32$4,442.71 1.0% 1.6mily Deductible$4,408.89$4,581.04$4,524.91$4,683.59 3.5% 6.2%OOP Max$8,603.53$8,655.64$8,617.56$8,708.15 1.1% 1.2%PPOIndividualDeductible$882.32$902.22$874.11$884.75 1.2% 0.3%OOP Max$3,153.22$3,252.36$3,251.09$3,225.93-.08% 2.3milyDeductible$1,900.66$1,944.26$1,860.61$1,905.46 2.4% 0.3%OOP Max$6,773.68$7,076.07$6,963.91$6,959.17-0.1% 2.7%Table 7:Average Annual Employee Health Plan Participation by Employer Offering,2018-2021 Employer Plan OfferingPlan Type2018201920202021Percent Change Since 2020Percent Change Since 2018BothHDHP25.1$.01.12.5% 4.5% 29.5%PPO38.67.18.37.5%-2.1%-2.8%No Election36.48.90.70.0%-2.0%-17.4%HDHP OnlyHDHP57.2b.7y.3s.5%-7.3% 28.5%No Election42.87.3 .7&.5% 27.9%-38.1%PPO OnlyPPO51.4I.3b.3W.6%-7.6% 12.0%No Election48.6P.77.7B.4.5%-12.7%2021.B,Inc.All Rights Reserved.Table 8:Average Annual HDHP Participation by Generation When at Least One HDHP and One PPO Are Offered by an Employer,2018-2021Age Group2018201920202021Percent Change Since 2020Percent Change Since 2018Generation Z6.7%7.2.9.2% 16.6% 141.0%Millennials31.2).978.8% 4.8% 24.4%Generation X27.5&1.43.2% 5.7% 20.8by Boomer21.6!.1$.9%.6% 2.8% 18.0%Traditionalist4.3%4.4%3.2%3%-7.1%-29.8%Table 9:Total Average Annual Employee Participation in Health Savings Accounts,2018-2021 2018201920202021Percent Change Since 2020Percent Change Since 2018HSA Participation83.8.9.9.7%-0.3% 9.4%Table 10:Average Annual HSA Participation Among Eligible Employees by Generation,2018-2021Age Group2018201920202021Percent Change Since 2020Percent Change Since 2018Generation Z4.4%5.3%9.4%9.7% 2.9% 119.9%Millennials27.0%.91.11.0%-0.5% 14.9%Generation X26.9%.4.5.5% 0.3% 2.5by Boomer22.2!.3!.2!.2%-1.3%-4.5%Traditionalist3.1%2.8%2.1%2.1%-7.8%-34.9%Table 11:Average Annual Employee HSA Contribution by Coverage Level,2018-2021 Plan Type2018201920202021Percent Change Since 2020Percent Change Since 2018Family$2,988.97$2,933.49$3,085.79$3,310.17 7.3% 3.2%Individual$1,580.94$1,537.93$1,656.30$1,818.14 9.8% 4.8%Table 12:Average Annual Employer HSA Contribution by Coverage Level,2018-2021 Plan Type2018201920202021Percent Change Since 2020Percent Change Since 2018Family$1,096.04$1,068.75$1,105.11$1,137.46 2.9% 3.8%Individual$620.01$605.26$608.98$611.71 0.4%-1.3&2021.B,Inc.All Rights Reserved.Table 13:Average Annual Employee HSA Contribution by Generation and Coverage Level,2018-2021Coverage TypeAge Group2018201920202021Percent Change Since 2020Percent Change Since 2018FamilyGeneration Z$928.94$974.50$1,269.02$1,802.77 42.1% 94.1%Millennials$2,757.18$2,695.10$2,915.04$3,220.26 10.5% 16.8%Generation X$3,205.60$3,152.17$3,295.54$3,491.44 5.9% 8.9by Boomer$2,758.57$2,724.38$2,820.84$2,823.26 0.1% 2.3%Traditionalist$2,038.65$2,040.13$1,997.55$2,271.38 13.7% 11.4%IndividualGeneration Z$1,209.23$1,195.25$1,401.54$1,633.42 16.5% 35.1%Millennials$1,519.38$1,479.37$1,604.41$1,760.36 9.7% 15.9%Generation X$1,544.36$1,503.52$1,630.81$1,800.19 10.4% 16.6by Boomer$1,885.98$1,839.03$2,042.03$2,206.24 8.0% 17.0%Traditionalist$1,948.36$1,907.61$2,883.43$2,467.78-14.4% 26.7%Table 14:Average Annual Percentage of Employee Participation in Voluntary Benefits(Income Protection Products),2018-2021 Voluntary Benefit2018201920202021Percent Change Since 2020Percent Change Since 2018Voluntary Accident12.6.8!.7.2% 2.1% 76.2%Critical Illness14.2.2.0#.4% 6.2% 64.7%Hospital Indemnity6.4%6.6.5.9% 12.9% 100.8%Table 15:Average Annual Percentage of Employee Participation in Voluntary Benefits(Specialty Products),2018-2021 Voluntary Benefit2018201920202021Percent Change Since 2020Percent Change Since 2018Indentity Theft Protection9.4%7.7.1.1% 0.9% 18.6%Legal Insurance11.7.4.5.9%-4.3% 2.2%Pet Insurance3.4%3.2%3.5%3.7% 6.6% 9.92021.B,Inc.All Rights Reserved.Table 16:Employee Participation in Voluntary Benefits(Income Protection Products and Specialty Products)by Plan Type,2021Voluntary BenefitHPHP ParticipationPPO ParticipationVoluntary Accident 35.8% 33.6%Critical Illness 33.4% 36.7%Hospital Indemnity 20.1% 23.2%Indentity Theft Protection 18.1% 17.3%Legal Insurance 18.5% 14.7%Pet Insurance 4.8% 4.5%Table 17:Average Annual Participation When Employee Selects at Least One Voluntary Benefit(Income Protection and Specialty Products),2018-2021Number of Voluntary Benefits Selected2018201920202021Percent Change Since 2020Percent Change Since 2018126.1.5.0.6%-15.8%-13.5!0.5.0.2.4% 11.6% 1.028.0$.9 .6.9%-7.9%-9.1B4.06.8(.5(.2%-1.0% 4.2R.2%3.9.6.9% 16.1% 14.8i.2%9.0.1.9% 6.8% 2.7%
2022-11-24
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Large EmployerEditionLarge EmployerEdition2022 State of Employee BenefitsFor more information, and Perspectives on the New Normal in Benefits.4 2022 Key Insights.4What benefits are employers offering?.5Employer Health Plan Offerings.5Consumer-Directed Health Care Accounts.6Voluntary Benefit Offerings.7How much are employers and employees spending on health insurance?.10Health Plan Premiums.10Employee Out-of-Pocket Costs.12Which benefit options are employees electing?.14Health Plan Participation.14Health Savings Accounts.16Voluntary Benefits Participation.18Looking Ahead.20About the Data.21About Benefitfocus.21Appendix.2242022.B,Inc.All Rights Reserved.Insights and Perspectives on the New Normal in BenefitsBenefitfocus is pleased to present the fifth annual State of Employee Benefits report,featuring insights based on decisions made on our platform for the 2022 plan year.Unlike self-reported surveys,the State of Employee Benefits uses actual enrollment data to provide a one-of-a-kind look at behavior-based trends in:2022 Key InsightsThis is the second year looking at employee benefit trends amid an ongoing pandemic,and the“new normal”is already different from what it was at the start of 2021.COVID-19 vaccines are now widely available,leading many employers to implement specific return-to-work policies based on vaccination status.The emergence of new variants has collided with widespread deferred care to introduce new factors in health care costs.Meanwhile,employees quitting their jobs at historic rates began the era of“The Great Resignation.”The resulting talent shortage,along with the expansion of remote work,has employers reimagining recruitment and retention strategies.This report aims to illustrate how these challenges are shaping employer benefit plan design and employee decisions by analyzing enrollments from 361 large employers and more than 4.7 million employees across the last five years.1 Additional insights from employer and employee surveys also provide perspective into the context in which these decisions were made.Here are the top three insights based on the data:77%5%1in4Of employers now offer an average of five health plan options between HDHP and PPOs,and nearly two thirds now offer both an HSA and FSA.Employers continue to diversify health benefit packages.Employers pick up the five percent premium increase for individual PPOs,and out-of-pocket cost increases were two percent or less on average.Employers limit cost-shifting of health care cost increases for employees.Employees elected hospital indemnity coverage while more than a third enrolled in voluntary accident and critical illness plans.Employees are prioritizing financial security via voluntary benefits more than in previous years.1 Large employers defined as organizations with 1,000 or more employees.Employer Benefit OfferingsHealth Plan Premiums and Out-of-Pocket CostsEmployee ElectionsRead the report for full findings.What benefits are employers offering?Employer Health Plan OfferingsIn 2022,large employers continued to expand health insurance options with more than three quarters now offering a combination of traditional health plans(PPO)and high-deductible health plans(HDHP).As a result,the percentage of employers offering PPOs exclusively declined by 16 percent in 2022.There was also a 32 percent drop in employers offering only HDHPs.Figure 1.1:Employer Health Plan Offerings,2018-2022See Appendix Table 1The employers that offer a combination of HDHP and PPO plans also provide a higher number of plan options than those that offer only HDHPs or only PPOs on average.20182019202020212022HDHP PPOPPO OnlyHDHP Only0 0PpR022.B,Inc.All Rights Reserved.HDHP onlyPPO onlyBoth offeredAverage Number of Health Plans Offered by Plan Type,2022See Appendix Table 26What are employees looking for when it comes to health benefits?When asked what benefits theyd want their employer to offer,nearly a third of employees stated they wanted improved,expanded or more affordable health insurance options.2 Consumer-Directed Health Care Accounts As health care costs continue to rise,offering the opportunity to invest in a health savings accounts(HSA)and/or fund a flexible spending account(FSA)to pay for out-of-pocket expenses with pre-tax dollars can help employers make their health benefit offerings more attractive.This strategy has become more prevalent with nearly 20 percent more employers offering both HSAs and FSAs in 2022 than they did in 2018.Figure 1.2:Employers Offering HSAs and/or FSAs by Plan Type,2018-2022See Appendix Table 3Both OferedHSA OnlyFSA OnlyNone Ofered$4,40961VR 2220212020201920180 0Pp0%5%4%4%3%2#!%2 Feedback Loop Employee Survey Sponsored by Benefitfocus,January 20221/3“We all know theres a war for talent and that were seeing turnover rates that we really havent seen for quite some time.Benefits are a key component of what our company offers to existing employees and potential candidates.”Benefitfocus customerHealth Care Manufacturer with 20,000 employees2022.B,Inc.All Rights Reserved.Voluntary Benefit Offerings The onset of the Great Resignation in 2021 in combination with emerging demand for a wide array of benefits in the job market,such as childcare and mental health,have led employers to evaluate their total compensation packages as a whole and rethink how they supplement health plans to address evolving employee needs across the categories of:When asked to identify the top three benefits in each category that were most important to their employees and organizations,heres how HR professionals responded3:Health3 Feedback Loop Employer Survey Sponsored by Benefitfocus,February 202272022.B,Inc.All Rights Reserved.53764(%0%0 0P%Tele-support for medical,dental and mental healthPharmacydiscountsand savingsMental health wellness support and programsFree medical screeningsHealth care navigation servicesImproved dentistry and orthodontics coverage/reduced costsWeight manage-ment reimburse-mentTobacco quitting programsDiabetes manage-ment supportNone of the above HealthFinancial WellbeingProfessional SupportLifestyle82022.B,Inc.All Rights Reserved.48A22(!%8%5%0 0Pmily planning529 College Savings PlansEducational supportMore maternity/paternity leaveChildcare financial supplement/reimburse-mentLong-term care/elderly careOn-site childcare(at work location)Pet insurance/pet careGender/transgender supportNone of the aboveLifestyle52P31000%2%0 0P%Help with financial/retirement planningIncrease frequency of pay(get paid weekly or daily)Debt management and repayment supportCash advancesAccess to savings accountsAccess to home loans/home purchasing supportFree food/beverage at work or a stipendNone of the aboveFinancial Wellbeing56TA%1%0 0P%Increased paid time of/sick timeClimate change programs to reduce your carbon footprintMore flexible hours/work my own hoursProfessional membership stipend/skill development and trainingFitness or gyms reimburse-ment/stipendMembership discountsDiscounts and planning services for travelMoney to improve home ofceProvided cell phone or reimburse-mentNone of the aboveProfessional SupportEmployers remain persistent in their effort to provide employees with flexible health plan options while also diversifying their voluntary benefit offerings to attract and retain talent.However,more choice creates additional complexity for teams that are already stretched thin as well as employees who may already be overwhelmed.The extent to which employers can rely on their technology solutions for reliable data integrations and automation will determine their capacity to maintain a robust benefits package.The level of personalization and decision support tools within the enrollment experience is a critical factor in helping ensure benefits have a positive impact on recruiting and retention.92022.B,Inc.All Rights Reserved.102022.B,Inc.All Rights Reserved.How much are employers and employees spending on health insurance?Health Plan PremiumsIn the 2021 plan year,employers took on more of the premium burden for health plans than in previous years to mitigate impacts of the pandemic for employees.As the average dollar amount for total health plan premium declined in 2022,some of that burden was shifted back to employees.Premiums for individual PPOs were the exception,which saw an average increase of five percent.Employers took on most of that price increase while individual PPO participants are paying 25 percent less on average for premiums than they did in 2021.Meanwhile,individual HDHP participants experienced a 21 percent increase in premiums for 2022,shrinking the average cost difference in the two plans to just over$150 per year for employees.Figure 2.1:Average Annual Employer and Employee Premium Contribution for Individual Coverage by Plan Type,2018-2022See Appendix Tables 4 and 5Average Employer PremiumAverage Employee Premium$5,587$5,253$1,568$5,273$1,560$1,651$6,028$1,634$6,857$1,2132022202120202019201820222021202020192018PPOHDHP$5,618$904$5,582$911$5,392$868$5,588$868$5,066$1,05311There was an$1,800 difference between the average amount employees paid for family HDHPs and family PPOs in 2022.Figure 2.2:Average Annual Employer and Employee Premium Contribution for Family Coverage by Plan Type,2018-2022See Appendix Tables 4 and 5Average Employer PremiumAverage Employee Premium$16,678$17,539$15,518$4,922$15,705$4,940$5,246$17,611$5,353$16,604$5,9992022202120202019201820222021202020192018PPOHDHP$16,200$3,538$16,189$3,530$3,856$18,194$4,023$17,977$4,116“Weve done different things to our benefit programs,and as weve gotten a little bit more familiar with COVID,its keeping up that education and shifting towards really what is the cost of this to the organization and to our employees.”Benefitfocus customerU.S.Food Manufacturer with 16,000 employeesEmployee Out-of-Pocket CostsOn average,growth in employee out-of-pocket cost exposure was limited to two percent for HDHPs and less than one percent for PPOs.Individual HDHPs had the highest increase for both out-of-pocket(OOP)maximums and deductibles an average of two percent and four percent respectively.Figure 2.3:Average Deductible and OOP Maximum for Individual Coverage by Plan Type,2018-2022See Appendix Table 6DeductibleOOP Max$2,404$2,311$2,239$2,256$2,195$4,538$4,443$4,398$4,391$4,3712022202120202019201820222021202020192018PPOHDHP0 0Pp0%$899$885$874$902$882$3,177$3,226$3,251$3,252$3,153122022.B,Inc.All Rights Reserved.17a%of employers reported a 10 percent increase in health care costs due to COVID-19of employees believe COVID-19 will increase the cost of health insurance4 Feedback Loop Survey Sponsored by Benefitfocus:COVID-19 Vaccine Tracking and Mandates in the Workplace,October 2021Impact of COVID-19 on Health Care Costs4 DeductibleOOP Max$4,792$4,684$4,525$4,581$4,409$8,772$8,708$8,618$8,656$8,6042022202120202019201820222021202020192018PPOHDHP0 0Pp0%$1,947$1,905$1,861$1,944$1,901$6,947$6,959$6,964$7,076$6,774Figure 2.4:Average Deductible and OOP Maximum for Family Coverage by Plan Type,2018-2022See Appendix Table 7132022.B,Inc.All Rights Reserved.After nearly two years of weighing the impacts of COVID-19 on health care costs,employers continue to experiment with the right balance of cost-sharing.Health plan premiums and out-of-pocket costs though are only part of the equation.Gaining access to claims data with predictive analytics capabilities can provide a deeper understanding of employees health and evaluate how plan design changes can drive improved outcomes and cost control.Which benefit options are employees electing?Health Plan ParticipationWith the higher out-of-pocket cost exposure,HDHPs can be perceived as high risk for employees and it appears employees are less willing to take that risk as the COVID-19 pandemic lingers.HDHP elections experienced a significant decline in 2022 for the first time in two years when employees were given the choice between a PPO and HDHP.The limited changes to out-of-pocket costs discussed in the previous section may also have made PPOs more attractive than HDHPs in 2022.Figure 3.1:Employee Health Plan Participation When Offered at Least One HDHP and One PPO,2018-2022 See Appendix Table 8HDHP0 0P 182019202020212022PPO48 2022.B,Inc.All Rights Reserved.Figure 3.2:HDHP Participation by Generation When Offered at Least One HDHP and One PPO,2018-20225 See Appendix Table 9HDHP ParticipationPPOParticipation Generation Z2018 2019 2020 2021 2022Millennials2018 2019 2020 2021 2022Generation X2018 2019 2020 2021 2022Baby Boomers2018 2019 2020 2021 20220 0P5 Age groups use in this report:Generation Z(born after 1997),millennials(born 1981-1996),Generation X(born 1965-1980)and baby boomers(born 1946-1964).Traditionalists(born 1945 or before)were purposely excluded due to eligibility for Medicare.24%With 24 percent participation,millennials remain the highest adopters of higher-risk HDHPs.162022.B,Inc.All Rights Reserved.Health Savings AccountsHealth savings accounts(HSAs)allow employees enrolled in an HDHP to invest a set limit of pre-tax funds that carry over year after year to cover qualified health care expenses.Employers can also invest in employee HSAs to ease the burden of higher deductibles.As with all investments,employees must determine their contribution based on their budget and needs.With inflation hitting a 39-year high in 2021,employees likely had less room in their budgets to contribute to their HSA.6 On average,employees elected to contribute less to HSAs this year than they did in 2021,at just 37 percent of the maximum contribution limit for families and 48 percent for individuals.However,when combined with average employer contributions for 2022,family HSAs cover more than three quarters of the average family HDHP deductible and individual HSAs cover 99 percent of the average individual deductible.Figure 3.3:Average Annual Employee and Employer HSA Contribution by Coverage Level,2022See Appendix Tables 10 and 11 The IRS set 2022 contribution limits for HSAs(employer employee)at$3,650 for individuals and$7,300 for family coverage.$2,675$1,7490 0Pp0%$637$960$1,264$3,665FamilyIndividualAverage Gap to Max ContributionAverage Employee HSA ContributionAverage Employer HSA Contribution6 Bureau of Labor StatisticsOn average,employees elected to contribute 37 percent of the maximum contribution limit for families.On average,employees elected to contribute 48 percent of the maximum contribution limit for individuals.4872022.B,Inc.All Rights Reserved.Figure 3.4:Total HSA Contributions by Coverage Level as a Percentage of Deductible and OOP Maximum,2022See Appendix Tables 6,7,10 and 11The generational breakdown of individual HSA contributions shows us that all ages are saving more than they were in 2018,but only baby boomers increased their contributions in 2022.Family HSA contributions are also down across all generations for family coverage for 2022,and all generations except Gen Zers contributed less than they did in 2018.Figure 3.5:Average Annual Employee HSA Contribution for Individual Coverage by Generation,2022See Appendix Table 12$3,635$2,3860 0Pp0%$2,404$4,792$4,538$8,772FamilyIndividualOOP MaxTotal HSA ContributionDeductible$0$500$1,000$1,500$2,000$2,500Generation ZMillennialsGeneration XBaby Boomer20182019202020212022182022.B,Inc.All Rights Reserved.Figure 3.6:Average Annual Employee HSA Contribution for Family Coverage by Generation,2022See Appendix Table 12Voluntary Benefits Participation COVID-19 made unforeseen events a reality for many,which created a demand for voluntary income protection benefits like critical illness,hospital indemnity and accident insurance.As a result,employee adoption of these benefits continued to grow across all types of benefits in 2022,apart from critical illness,which decreased by six percent.Hospital indemnity had the highest participation growth within the income protection category with a 14 percent increase while pet insurance had the highest across the specialty benefits with a 17 percent increase.Figure 3.7:Employee Participation in Voluntary Income Protection and Specialty Benefits,2018-2022See Appendix Table 13$0$500$1,000$1,500$2,000$2,500$3,000$3,500Generation ZMillennialsGeneration XBaby Boomer201820192020202120220%5 %05%VoluntaryAccidentCriticalIllnessHospitalIndemnityIdentityTheftProtectionLegalInsurancePetInsurance20182019202020212022192022.B,Inc.All Rights Reserved.Voluntary accident and critical illness remain the top selected voluntary benefits with participation rates at 36 percent and 33 percent for 2022.When comparing health plan elections to voluntary benefits participation,PPO subscribers had slightly higher adoption this year for most benefits except for legal insurance.This is consistent with the trend from 2021,with critical illness having the widest margin in participation for 2022.Figure 3.8:Employee Participation in Voluntary Benefits by Health Plan Type,2022See Appendix Table 14“We found a couple of things add value to employees during this whole COVID pandemic.And the two things that employees value right now is critical illness and hospital indemnity.We had 50 percent participation.Thats the highest Ive ever seen on any new plan.”Benefitfocus customerU.S.Energy&Utilities Service Provider with 1,700 employees0%5 %05%Identity Theft ProtectionLegal InsurancePet InsuranceHospital IndemnityCritical IllnessVoluntary AccidentHDHP ParticipantsPPO ParticipantsThe shift in favor of PPOs over HDHPs along with the uptick in participation for some voluntary benefits is a clear indication that employees priorities and needs continue to evolve.Employers should continue educating employees about how different components of their benefits package can work together to support them physically and financially both during the enrollment process and throughout the year to help employees get the most value from their benefits.202022.B,Inc.All Rights Reserved.Looking Ahead The trends we see here are evidence that the fundamental challenges of HR and benefits have evolved to an entirely new level over the past year.To optimize their investment in employee benefits moving forward,there are three key factors for employers to consider as they adapt their strategy.Complexity isnt going away.Todays job market necessitates a creative and extensive benefits program,but that also means more vendors and data to keep track of across a considerable number of systemson top of everyday administrative tasks.Effective benefit solutions must provide the flexibility to outsource tedious administrative work while reliably accommodating data integrations for the growing list of point solutions and vendors that make up a comprehensive benefits package.Not only does this give HR teams the confidence that everything is flowing as it should,but it also creates a more seamless and intuitive experience for employees to manage their benefits.The employee experience extends beyond open enrollment.More than ever before,employers need to take advantage of every opportunity to show that they care for and value the wellbeing of their employees from onboarding and open enrollment,to life event changes and every benefits interaction in between.A benefits administration partner that offers personalized decision support tools with visibility into health care claims and targeted benefits education can help employers deliver a more engaging and empathetic employee experience.This experience should be easily translated into a mobile app,giving employees the convenience to access benefits information whenever and wherever.Cost control requires engaged employees.There is a plethora of health plan programs and point solutions designed to lower costs and improve population health,but employers need a way to drive utilization for these tactics to be effective.At the bare minimum,employers need multi-channel communication tools that help them encourage employees to take advantage of common health plan features like zero-cost preventive care options or lower-cost telehealth visits.Taking it a step further,analytics tools that integrate claims data can provide employers insight into what types of programs are needed to address their employees needs while also proactively engaging employees in their health with timely communication.Ultimately,this guidance and connection can help improve outcomes and lower costs.212022.B,Inc.All Rights Reserved.About the Data The State of Employee Benefits 2022 was compiled from enrollment transactions aggregated across 361 large employers(1,000 full-time employees)within the Benefitfocus customer base,representing more than 4.7 million employees in total.The data was evaluated on an anonymous basis.Enrollment records include both active and passive enrollments made by a variety of industry roles(employee,carrier representative,broker,benefits administrator,etc.)from the fall of 2017 through fall of 2021 for effective dates of January 1,2018 and January 1,2022.These measurements are not meant to be a nationally representative sample,but to represent the aggregate activity for large employers on the Benefitfocus platform.Data was also collected from Benefitfocus-sponsored surveys conducted through the Feedback Loop platform.Surveys related to the COVID-19 vaccine mandates were fielded in October 2021,while voluntary benefit surveys were fielded in January and February of 2022.Large employers and employees from large employers were recruited for these surveys.“Family coverage”is defined as coverage levels that had at least one employee,one spouse/domestic partner and one child.For premium metrics,all averages are annual premium amounts.All dollar amounts have been rounded to the nearest whole dollar.All percentages,with limited exceptions,have been rounded to the nearest whole number within the report and single decimal within the appendix.Subscribers 17 years of age and younger have been removed.The data for insufficient sample sizes has been withheld.About BenefitfocusBenefitfocus(NASDAQ:BNFT)is a cloud-based benefits administration technology company committed to helping our customers,and the people they serve,get the most out of their health care and benefit programs.Through exceptional service and innovative SaaS solutions,we aim to be the safest set of hands for our customers helping to simplify the complexity of benefits administration while delivering an experience that engages people and unlocks the potential for better health and improved outcomes.Our mission is simple:to improve lives with benefits.Learn more at .Benefitfocus is not an actuarial firm,and Benefitfocus is not acting as an actuary or determining any actuarial basis for employer benefit offerings.Benefitfocus does not underwrite insurance and does not give legal advice regarding the adequacy of coverage limits or types.This report is not a substitute for the advice of an attorney,tax,actuarial or other professional advisors.For more information, Rights Reserved.Appendix All percentages have been rounded to a single decimal,and all dollar amounts have been rounded to the nearest whole dollar within the appendix.In addition,data tables include year-over-year percent change between 2021 and 2022,and since 2018 for comparison.Table 1:Employer Health Plan Offerings,2018-2022Plan Type20182019202020212022Percent Change Since 2021Percent Change Since 2018HDHP Traditional65.3h.2q.1q.4v.5% 7.0% 17.1%HDHP Only4.8%4.2%3.9%3.7%2.5%-31.8%-47.6%PPO Only29.9.6%.0$.9!.1%-15.5%-29.7%Table 2:Average Number of Health Plans Offered by Plan Type,2018-2022 Plan Type20182019202020212022Percent Change Since 2021Percent Change Since 2018HDHP Only2.62.72.22.02.00.0%-21.7%PPO Only2.72.93.23.03.0 1.4% 10.5%Both Offered3.83.86.46.15.0-18.4% 32.3%Table 3:Employers Offering HSAs and/or FSAs by Plan Type,2018-2022Plan Type20182019202020212022Percent Change Since 2021Percent Change Since 2018Both Offered52.1V.4Y.9.4a.2% 1.3% 17.4%HSA Only4.5%4.0%3.6%3.2%2.1%-33.9%-52.9%FSA Only22.7 .7.3.7.4%-1.6%-23.5%None Offered20.6.8.3.7.3% 3.2%-6.5%Table 4:Average Annual Employee Premium Contribution by Plan Type and Coverage Level,2018-2022Plan TypeCoverage Level20182019202020212022Percent Change Since 2021Percent Change Since 2018HDHPIndividual$904$911$868$868$1,053 21.3% 16.4mily$3,538$3,531$3,856$4,023$4,116 2.3% 16.3%PPOIndividual$1,568$1,560$1,651$1,634$1,213-25.8%-22.6mily$4,922$4,940$5,246$5,353$5,999 12.1% 21.9#2022.B,Inc.All Rights Reserved.Table 5:Average Annual Employer Premium Contribution by Plan Type and Coverage Level,2018-2022 Plan TypeCoverage Level20182019202020212022Percent Change Since 2021Percent Change Since 2018HDHPIndividual$5,618$5,582$5,392$5,588$5,066-9.3%-9.8mily$16,200$16,189$17,539$18,194$17,977-1.2% 11.0%PPOIndividual$5,253$5,273$5,587$6,028$6,857 13.8% 30.5mily$15,518$15,705$16,678$17,611$16,604-5.7% 7.0%Table 6:Average Deductible and OOP Maximum by Plan Type for Individual Coverage,2018-2022Plan Type20182019202020212022Percent Change Since 2021Percent Change Since 2018HDHPDeductible$2,195$2,256$2,239$2,311$2,404 4.0% 9.5%OOP Max$4,371$4,391$4,398$4,443$4,538 2.1% 3.8%PPODeductible$882$902$874$885$899 1.6% 1.9%OOP Max$3,153$3,252$3,251$3,226$3,177-1.5% 0.7%Table 7:Average Deductible and OOP Maximum by Plan Type for Family Coverage,2018-2022Plan Type20182019202020212022Percent Change Since 2021Percent Change Since 2018HDHPDeductible$4,409$4,581$4,525$4,684$4,792 2.3% 8.7%OOP Max$8,604$8,656$8,618$8,708$8,772 0.7% 2.0%PPODeductible$1,901$1,944$1,861$1,905$1,947 2.2% 2.4%OOP Max$6,774$7,076$6,964$6,959$6,947-0.2% 2.6%Table 8:Employee Health Plan Participation When Offered at Least One HDHP and One PPO,2018-2022Plan Type20182019202020212022Percent Change Since 2021Percent Change Since 2018HDHP25.1$.01.12.5 .4%-37.2%-18.7%PPO38.67.18.37.5H.2% 28.6% 25.0%No Election34.06.48.90.70.0%-2.0%-11.6$2022.B,Inc.All Rights Reserved.Table 9:Employee Health Plan Participation by Generation When Offered at Least One HDHP and One PPO,2018-2022 Age GroupPlan Type20182019202020212022Percent Change since 2021Percent Change Since 2018Generation ZHDHP6.7%7.2.9.2.5%-35.3% 55.9%PPO6.6%6.8.8.3.8% 33.5% 168.7%MillennialsHDHP31.2).37.08.8#.5%-39.3%-24.5%PPO30.30.53.54.2E.3% 32.2% 49.6%Generation XHDHP27.5&.01.43.2 .8%-37.4%-24.4%PPO43.4B.5B.5B.6U.0% 29.2% 26.7by BoomerHDHP21.6!.1$.9%.6.9%-53.3%-44.9%PPO49.5I.2G.3F.0U.1% 19.7% 11.3%Table 10:Average Annual Employee HSA Contribution by Coverage Level,2022Coverage Level20182019202020212022Percent Change Since 2021Percent Change Since 2018Individual$1,581$1,538$1,656$1,818$1,749-3.8% 10.6mily$2,989$2,933$3,086$3,310$2,675-19.2%-10.5%Table 11:Average Annual Employer HSA Contribution by Coverage Level,2022Coverage Level20182019202020212022Percent Change Since 2021Percent Change Since 2018Individual$620$605$608$611$637 4.2% 2.8mily$1,096$1,068$1,105$1,137$960-15.6%-12.4%Table 12:Average Annual Employee HSA Contribution by Coverage Level and Generation,2022Coverage LevelAge Group20182019202020212022Percent Change Since 2021Percent Change Since 2018IndividualGeneration Z$1,209$1,195$1,402$1,633$1,360-16.7% 12.5%Millennials$1,519$1,479$1,604$1,760$1,591-9.6% 4.7%Generation X$1,544$1,504$1,631$1,800$1,620-10.0% 4.9by Boomer$1,886$1,839$2,042$2,206$2,304 4.4% 22.2milyGeneration Z$929$975$1,269$1,803$1,646-8.7% 77.2%Millennials$2,757$2,695$2,915$3,220$2,479-23.0%-10.1%Generation X$3,206$3,152$3,296$3,491$2,783-20.3%-13.2by Boomer$2,759$2,724$2,821$2,823$2,716-3.8%-1.6%2022.B,Inc.All Rights Reserved.Table 13:Percentage of Employees Electing Voluntary Income Protection and Specialty Benefits,2018-2022 Voluntary Benefit20182019202020212022Percent Change Since 2021Percent Change Since 2018Voluntary Accident31.00.24.54.46.3% 5.4% 17.1%Critical Illness32.4).83.84.72.7%-5.8% 1.0%Hospital Indemnity19.0.3 .1!.5$.5% 14.3% 29.0%Identity Theft Protection24.6.1.3.4.6% 12.6%-20.2%Legal Insurance18.9.4.6.6.0% 14.5% 0.5%Pet Insurance5.2%4.7%4.7%4.7%5.5% 17.2% 5.9%Table 14:Employee Participation in Voluntary Benefits(Income Protection Products and Specialty Products)by Plan Type,2021Voluntary BenefitHDHP ParticipantsPPO ParticipantsVoluntary Accident34.18.4%Critical Illness30.55.0%Hospital Indemnity22.8&.3%Identity Theft Protection18.9 .2%Legal Insurance20.7.3%Pet Insurance5.3%5.6%Table 15:Generational Representation,2018-2022Age Group20182019202020212022Percent Change Since 2021Percent Change Since 2018Generation Z6.7.0.4.2%9.9%-11.3H.8%Millennials40.79.57.57.53.0%-12.1%-18.9%Generation X31.80.92.21.71.5%-0.7%-1.0by Boomer20.9.6.9.6%.60.7.8 22.B,Inc
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Global Workforce of the FutureUnravelling the Talent Conundrum2|Global Workforce of the Future Report 2022ContentsSalary A Tool for Attraction,but Not for Retention Flexibility The Continuing Demand for Autonomy Career Progression Stuck in the Middle:Are Middle Management on the Road to Nowhere?Mental Health and Wellbeing Rethinking Wellness Programs:Believe in Leave 12a/3Future Perspective:The Impact of Mega TrendsIntroduction Results:The Great Resignation Uncovered Quiet Quitting,Candidates as Consumers,and the Rise of the#QuitfluencerRetention Leversb/c/d/Unravelling the Talent Conundrum-Summary 3|Global Workforce of the Future Report 2022Introduction3|Global Workforce of the Future Report 2022Workers(Aged 18-60)Methodology Overview All WorkersRespondents must have non-desk jobs or desk jobs,employed by the same employer for at least 2 months,with contracts of at least 15 hours for non desk workers and 20 hours for desk workers.Fieldwork was conducted between 8th April&30th May 2022 in local languages.34,200 respondents across 25 countries answered a 20-minute online survey.Belgium(808)Netherlands(1,192)Bel/Ned(2,000)Argentina(234)Brazil(666)Mexico(1,100)LatAm(2,000)Denmark(392)Finland(474)Norway(282)Sweden(852)Nordics(2,000)Greece(400)Poland(1,000)Romania(500)Slovenia(100)Turkey(2,000)EEMENA(4,000)OtherCanada(2,000)China(2,000)Switzerland(1,200)2020 Original 8 markets(19,000)Australia(2,000)France(2,000)Germany(2,000)Italy(2,000)Japan(2,000)Spain(2,000)UK(2,000)USA(5,000)In 2020,with the world in general and the world of work specifically gripped by the Covid-19 pandemic,the Adecco Group launched Resetting Normal:Defining the New Era of Work,a substantial piece of research that set out to investigate how the new normal would look post-pandemic.The 2020 research surveyed 8,000 office-based workers,aged 18-60 across eight countries.That report was followed up with an expanded scope a year later with Resetting Normal 2021.In 2021,the number of respondents increased to 14,800 office-based workers across 25 countries.The 2022 report,the Global Workforce of the Future 2022,is the third iteration of this research,though the name has changed to reflect the fact that while Covid-19 is still prevalent globally,there are many factors influencing the pace of change currently shaping the future of work.Each year,the depth of the study and the number of people surveyed has grown.This year is no different.Importantly,the 2022 research surveyed both office-based and non-office-based workers to highlight any differences between desk workers and non-desk-based workers.Over 30,000 people were surveyed globally,of which 15,000 were office-based and 15,000 were non-office-based.Respondents must have had a non-desk or desk job,employed by the same employer for at least two months,with contracts of at least 15 hours for non-desk workers and 20 hours for desk workers.The fieldwork was conducted between 8 April-30 May 2022 in local languages,with respondents from 25 countries answering a 20-minute online survey.The results that follow provide insights into the attitudes of the current workforce and offers food for thought to help organisations future-proof their talent.4|Global Workforce of the Future Report 20224The Great Resignation UncoveredQuiet Quitting,Candidates as Consumers,and the Rise of the#Quitfluencer15|Global Workforce of the Future Report 2022%Who are looking for a job change and are doing the followingWant to leave current jobin the next 12 months 3 in 10Among those looking for change:45%are actively applying/already interviewing for other jobs60%are passively looking for opportunities(17%of those are being poached by recruiters)I am keeping up to date with open jobs/career opportunities but not applying42)%I am actively applying for jobsI am actively looking for new internal opportunities in my companyI have been contacted by recruiters/companies offering me job opportunitiesI am interviewing with recruiters/companies for potential jobsNone of the aboveQ112.You said that you would like to change jobs/career in the next 12 months.Which of the following statements best applies to you?Weighted Base:Those who want to quit/change their jobs in next 12 months,All Workers(n=5,237)Over a quarter(27%)of workers globally will quit their jobs in the next 12 months,and 45%of these are actively keeping a finger on the job market and are applying for new roles or interviewing for them.2 in 10 respondents say they have been poached by recruiters or by other companies,suggesting that recruiters and organisations are taking advantage of the Great Resignation trend and a global workforce in flux.Headline quit rates like this originally sparked the debate around the Great Resignation that has taken place over the last couple of years,and our research suggests this trend is not abating.However,quit rates are only one piece of the puzzle.The finer details of the widespread movement of talent cannot be captured in one single data point.This report will explore those intricacies and not only suggest remedies to stem the loss of talent,but also suggest ways that organisations might proactively and effectively future-proof their own talent pipelines.Setting the Scene6|Global Workforce of the Future Report 2022Before we dive in,let us first consider the definition of success and satisfaction at work.What is it employees are looking for?Throughout our research,we explored different definitions of success and satisfaction with work because while success and satisfaction can seem black and white,the nuances of a successful working life are more all-encompassing and holistic,and take into account the life of the worker and not just the actual job.Before considering the survey results,we acknowledge that success and satisfaction are aspirational.But this is important to consider.Organisations often correlate employee satisfaction directly with business outcomes,such as retention or productivity,but workers are more than numbers on a spreadsheet and their human aspirations must be considered in order to rethink talent strategies and build resilient,motivated and engaged teams.Our research focuses on other aspects of the Great Resignation,uncovering interesting geographical trends and the important influence of seeing co-workers quit.For example,workers in Switzerland,EEMENA,and Australia are more likely to leave their employers in the next year,while 29%of workers in the US say they will leave their job in the next 12 months.While this might initially suggest particular worker unhappiness in these regions,it should be noted that Switzerland,EEMENA,and Australia are among the countries where workers have the highest sense of job security(76%,79%,and 78%,respectively,say they are satisfied with their job security),suggesting workers from these regions feel more confident and empowered to consider career changes.Hidden Behind the Headlines Defining Success and Satisfaction at Work%Who want to stay or leave current jobWant to stay in current jobWant to leave current job80%All WorkersGermanyBeneluxCanadaChinaSpainJapanUSASwitzerlandNordicsFranceLatAmEEMENAItalyUKAustralia65%d%c#c%a%a)%Significantly higher/lower vs Total audience612)Y(X(X1W!V)3V%Q26:Thinking about your career plans in the next 12 months,which of the following best applies to you?(NET Agree,T2B)Weighted base:All Workers(n=30,000)7|Global Workforce of the Future Report 2022High Satisfaction AverageSatisfactionPerformance as a manager*asked of managers onlyRelationship with co-workersSense of job securityTrust from manager to get the job doneEase of commute*asked of Non-desk Workers onlyJob OverallHours work per weekAbility to maintain a good work/life balanceCompany work forAbility to manage caring for others around workImmediate line managerFlexibility regarding scheduleFlexibility regarding remote working*asked of Desk Workers onlyBeing assessed on performanceCompany cultureWorkloadAbility to maintain mental health and wellbeingAbility to maintain physical health/fitnessSalaryCompanys position on major societal issuesTraining/upskilling opportunitiesCareer prospects/development opportunitiesCompany benefits79trppigfeecbbbaYXXXXWTT%LowSatisfactionQ31.How satisfied would you say you currently feel about the following?(NET Satisfied,T2B)Weighted base:All Workers(n=30,000)%Who say they are satisfiedWith this in mind,this survey found that globally,job satisfaction is high,with 69%stating they have overall job satisfaction,up from 67%in 2021.Workers are more satisfied in China,Brazil,and Turkey,while workers in Japan,France,Greece,and Italy are among the least satisfied.Workload,the ability to maintain mental and physical health and wellbeing,salary,career progression,and upskilling are the areas where workers are least satisfied.Non-desk workers are significantly less satisfied than desk workers with their ability to maintain mental health and wellbeing(52%compared with 65%).74%of workers are satisfied with their relationships with co-workers,which is the highest rating of any job satisfaction factor.SatisfactionAverage 61%8|Global Workforce of the Future Report 2022Having a good work/life balanceBeing happy at work,enjoying the day-to day work you doHaving a sense of job securityNET Flexibility(over working schedule and remote working)Having a job that you are passionate aboutNET Progression(frequent promotions and aquiring new skills)NET Relationship(building strong relationshi-ps with colleagues and managers)Earning a lot of moneyFeeling trusted by your manager/companyAchieving financial security before standard retirement ageBecoming an expert in your fieldHaving opportunities to work fewer hours/work a 4-day week(even if you need to reduce your salary)Having a positive influence on others careersBeing able to meet people from diverse backgroundsBeing part of the leadership teamBeing able to have another revenue stream/side job in addition to your primary jobBeing able to travel to different countries with workWorking many hoursMoving to a less physical job as you get older*asked of Non-desk Workers onlyHaving multiple careersMoving to a desk-based job*asked of Non-desk Workers only39200)%$# %9%8%8%7%7%6%5%2%Q106:Which of the following best describe a successful working life for you?Weighted Base:All Workers(n=30,000)5%Who say this is what describes a successful working lifeWhen considering what defines a successful working life,a good work/life balance,happiness at work,job security,and passion for their work come before money.Work means more to workers than a simple transaction of output for income,and workers understanding of the impact of work on their broader lives in other words,it is not possible to perfectly separate work from life,so striking the right work/life balance becomes a key priority.Success9|Global Workforce of the Future Report 2022Contagion 50%Influence 70%Conversion 69%of those seeing others quitting and%Who are considering quitting/quitting in the next 12 months Seeing othersquittingConsideringTaking action569%Q111.Thinking about your current company or network,to what extent do you agree or disagree with the following statements?/Q26.Thinking about your career plans in the next 12 months,which of the following best applies to you?Weighted Base:All Workers(n=30,000)This quitting contagion is more prominent amongst younger generations.Gen Z are 2.5 times more likely to quit if they see others quitting than Baby Boomers.This theme is supported by other research,notably in LinkedIns Workforce Confidence Index published earlier in the year,stating that Gen Z are changing jobs at a rate 134%higher than they were in 2019,while Baby Boomers are switching 4%less.The quitting contagion continues to grow boosted by the rise of so-called quitfluencers.Our unique formula breaks down the influence of seeing colleagues quit,resulting in contemplation and/or action.Quitting sprees trigger 70%of colleagues to consider quitting themselves,and 50%of workers who have seen others quit have acted and decided to quit in the next 12 months.The Rise of the#Quitfluencer While salary is an important consideration,it is clearly not the only one.Companies must tackle both the financial,aspirational and wellbeing concerns together,in order to help employees make sense of uncertain times,resulting in improved talent retention rates.10|Global Workforce of the Future Report 2022The Rise of Quiet QuittingThe Great Resignation has unearthed quiet quitting,a recent viral trend embraced by those who reject the idea that work should be the top priority in their lives,as an attempt to prevent burnout.Quiet quitting does not appear on the traditional attrition numbers reported by HR departments but if undetected,it has the potential to promote a toxic culture where workers feel they cannot speak up,and instead decide to disengage.Companies must watch out for this trend,which may be spurred on when workers see others around them quit.Providing space,coaching,and processes for open and honest conversations is one of the key retention recommendations for employers tackling quiet quitting.Leaders who fail to act could be guilty of quiet firing.We explore the concerning lack of career conversations and its striking impact on talent retention,in the Career Progression section of this report.70%Employer65%Yourself61%GovernmentManagersManagersManagers75qffYV%Non-managersNon-managersNon-managersQ22.Looking ahead,and thinking about all aspects of working life,how responsible are the following in ensuring a better working world in future?(NET Responsible,T2B)Weighted Base:All Workers(n=30,000);see detailed sub group bases at front of report%Who think the following are responsible for a better working futureCareer Confidence:A Buyers Market6 out of 10 workers(61%)feel confident that they would be able to find a new job in six months or less,even in times of economic uncertainty.Although the looming recession may pour doubt over confidence levels,54%of workers still believe they hold the power over jobs they can choose.This is especially seen with Millennials(60%)and Gen Z(58%),who agree that,as candidates,they have more power and options to choose where to work.They put this down to companies struggling to retain and find talent.This proves that younger workers personify the candidates as consumers mentality more than other generations,seeming to have a better grasp and exposure of whats on offer.Strong employer communication strategies have proven to act as talent magnets for attraction and retention of the younger generations.Globally,most workers(72%)feel secure and are not concerned about losing their job.This has increased significantly from 61%in 2021(though it must be noted that the 2021 report surveyed only desk-based workers).Italy,Japan,France,and Spain are the countries where workers are the least confident in their ability to find a new job in less than six months.11|Global Workforce of the Future Report 202272%are satisfied with their sense of job securityThis has increased from 61%in 2021*(*only desk-based workers)All WorkersGermanyUSANordicsLatAmAustraliaSwitzerlandBeneluxCanadaEEMENAUKChinaSpainFranceItalyJapan61pihggfffdaYUSF7%Significantly higher/lower vs Total audienceQ117.Thinking about the“Great Resignation”,in the current climate how long do you think it would take you to find a new job if you wanted to change jobs?Weighted base:All Workers(n=30,000)%Who think they will find a new job in 6 months or lessThis matches our findings from Closing the Gap:Pathways to a Post-Pandemic Recovery in Labour Markets that found employment levels are strongest in regions such as the US.That particular labour market is looking strong,so workers are likely to feel more confident in their ability to find a new job.In Europe,however,due to factors such as the war in Ukraine and inflationary pressures,employment levels will take longer to recover to pre-pandemic levels.Workers in European countries where the labour markets are weaker,are right to feel less certain.In fact,in the Salary section of this report,we explore the possibility of a slowing of the Great Resignation trend as a result of workers seeking stability in times of uncertainty.12|Global Workforce of the Future Report 2022I want a better salaryI am looking for/have been offered a better opportunity elsewhereBetter work/Life balance,worried about burnout*My career is not progressing,looking for more upskilling&training,move to a job that will give me employable skills*I want more flexibility(working schedules,remote working,4-day week)*I want to try something newValues and culture(values mismatch&unhappy with the culture)*I am unhappy in my current roleI am unhappy with my manager(s)My personal circumstances have changed 45540%Q113.You said that you would like to change jobs/career in the next 12 months.Which of the following reasons best describes why you would like to make this change?Weighted Base:Those who want to quit/change their jobs in next 12 months;Non-desk Workers(n=2,601),Non-desk Managers(n=810),Non-desk Non-Mangers(n=1,565)The Wage Inflation AntidoteEmployers might be tempted to tackle tight labour markets,quitting contagions,and worker confidence with higher salaries alone.Salary is the top reason for all workers to change job,with almost half of all those that want to quit in the next 12 months stating that salary is their main reason.Work/life balance,a desire to try something new,unhappiness in their current job,and lack of career progression also rank highly as reasons to quit.%Who want to change jobs in next 12 monthsWhen comparing those in office jobs with non-office workers,Salary remains the most important motivation for both.Both groups share same priorities.*These are Nets13|Global Workforce of the Future Report 2022I am happy in my current jobI have career progression available with my current employerI am happy with the upskilling/training in my current jobI worry I would have to take a salary cut if I were to change jobsI think theres a lack of opportunities in my industryI dont think my skillset is good enough to apply for a new jobMy current job/role gives me stabilityI am happy with my work/life balanceI enjoy working with my colleaguesI am happy with the flexibility in my current jobI am happy with my salaryI am happy with my manager(s)I am happy with the company cultureI am loyal to my employer40851% %8%When workers are engaged,salary takes a secondary role,dropping to 6th priority Comparing Desk-workers and non-desk workers the ranking comes out the same.Q114.You said that you would like to stay in your current job/with your current employer.Which of the following reasons best describes why this is?Weighted Base:Those who want to stay in their job;Non-desk Workers(n=7,205),Non-desk Managers(n=2,264),Non-desk Non-Mangers(n=4,397)However,salary becomes less important amongst workers who are engaged.All workers who say they will stay with their current employer over the next 12 months will do so because 1 they are happy;2 the job provides stability;3 they have a good work-life balance;4 they enjoy working with their colleagues;and 5 because they have good flexibility in their job.Salary takes sixth place in the ranking.So,while salary is important in attracting a worker to a job in the first place,other factors like development and flexibility rise in importance over time.This means that employers cant rely solely on raising salaries to keep workers engaged.%Who want to stay in their job over for the following reasons14|Global Workforce of the Future Report 2022%Who are thinking of doing the following in futureI would like to stay in my current job34%I would like to progress in my current company/employer17%I would like to be upskilled/reskilled for a new job in my current company10%I would like to take a different job in another company9%I would like to make a career change8%I would like to become self-employed5%I would like to take a career break4%I would like to retire6a%Would like to stay in their current company.27%Want to leave their current job6%Want to leave the workforceQ26:Thinking about your career plans in the next 12 months,which of the following best applies to you?(NET Agree,T2B)Weighted base:All Workers(n=30,000),All Non-desk Workers(n=15,000),All Desk Workers(n=15,000)Employers cannot take for granted workers who are not quitting.61%of workers globally state they want to stay in their current company in the next 12 months.However,nearly half of those people(44%)will do so under the condition that they will be reskilled and see progression within their job.44%Who want to stay at their current company want to progress/upskill for a new job15|Global Workforce of the Future Report 2022Organisations should prioritise their retention efforts according to elements that are of high importance to their workforce,but which also generate low satisfaction amongst workers.As companies grapple with wage inflation,this report will outline areas that workers mark as highly important,but where their satisfaction at work is currently the lowest.We believe these are the areas where companies can make an impact to keep and attract talent.Salary is among them,but so are career progression,flexibility,and mental health and wellbeing.In the following pages,we will consider what we term retention levers.But before we do so,it is important to highlight the prioritisation matrix used to uncover these levers.This unique matrix consists of four quadrants that map employee satisfaction and derived importance.The derived importance is calculated using the correlation between the satisfaction towards the job overall and the individual aspects of working life.Areas with a stronger positive correlation to overall satisfaction are more important to workers.It is based on the patterns respondents use when evaluating satisfaction with the job overall and towards individual aspects of it.The Retention Lever MatrixDerived ImportanceSatisfaction with aspects of current jobEase of commutePerformanceas a managerSense of job securityRelationship with co-workersHours work per weekAbility to manage caring for others around workFlexibility regarding remote workingCompany benefitsSalaryFlexibility regarding working scheduleAbility to maintain physical health/fitnessCompany cultureAbility to maintain mental health and wellbeingCareer prospects/development opportunitiesTraining/upskilling opportunitiesCompany you work forEvolveBeing assessed on performanceImmediate line managerTrust from manager to get the job doneAbility to maintain a good work/life balanceCompanys position on major societal issuesWorkloadSalaryFlexibilityCareer ProgressionMental Health and WellbeingHow to Understand Each QuadrantWatchProtect and promoteMaintain and promoteHover above the quadrants to know moreQ31:How satisfied would you say you currently feel about the following?Weighted base:All workers(n=30,000),Satisfaction with aspects of current job=Top 2 box;Derived importance=correlation analysis16|Global Workforce of the Future Report 2022When we do this,four retention levers present themselves.Career development and upskilling have the lowest satisfaction scores out of all the elements studied and are firmly in the evolve quadrant.Also from the evolve quadrant,we explore mental health and wellbeing in detail.From the watch quadrant,we will explore two key elements:salary and flexibility.It is important to note that company culture and companys position on societal issues are of high importance and low satisfaction,and underpin everything an organisation does across their talent management cycle.While we will not cover these topics exclusively,it will be clear how they underlie every element of this report.1SalaryFlexibilityCareer ProgressionMental Health&Wellbeing17|Global Workforce of the Future Report 2022Retention levers a/Salary A Tool for Attraction,but Not for Retention218|Global Workforce of the Future Report 2022Salary is the top 1 reason for workers to change jobAnd in terms of satisfaction it ranks 19th nearing the bottom of the list45%Are changing their jobs in the next 12 months because they want a better salary25%Choosing to stay in their job because they are happy with their salary Ranks 1st followed by a better work/life balance at 35%Ranks 6thQ106:Which of the following best describe a successful working life for you?Q105:Thinking about your current job,what were the reasons you chose this job over another?Q113:You said that you would like to change jobs/career in the next 12 months.Which of the following reasons best describes why you would like to make this change?Q114:You said that you would like to stay in your current job/with your current employer.Which of the following reasons best describes why this is?Weighted Base:All Workers(n=30,000)The Wage Inflation TrapRetention levers|SalarySalary is the single biggest reason for workers globally to change jobs.45%of workers that say they will quit in the next 12 months will do so to get a better salary.However,when workers are engaged and want to stay in their current job,salary becomes less important,dropping to sixth in priority order.Most people,it seems,care about salary when they are at transition points in their careers and they are expected to negotiate,but once this is finalised,salary becomes a secondary consideration that will not keep them in a job.As companies grapple with attrition,increasing wages has become a quick tactic to attract the right people in the past year.Salaries got better for half of workers globally with the US leading the ranking.But it has quickly become clear that the effect of higher pay alone doesnt have a lasting impact on retention.Our research suggests that organisations should focus on wage inflation antidotes:other factors that are vital for satisfaction and engagement,including career development,flexibility and work/life balance.%Who are making these decisions because of Salary or financial considerations 19|Global Workforce of the Future Report 2022Feel their salary is a fair reflection of their workOnly 4 in 10 Non-managersMy salary is a fair reflection of the number of hours I workMy salary is a fair reflection of the skillset and experience I possessMy salary is a fair reflection of the work I produceSignificantly higher/lower vs Total audience52cAPc8Ib7%All workersManagersNon-managersQ109.To what extent do you agree or disagree with the following statements about salaries and benefits?/Q31.How satisfied would you say you currently feel about the following?Net Satisfaction with current salary Weighted base:All Workers(n=30,000)%Who agree with the followingIncreasing Salaries for Half of Workers20|Global Workforce of the Future Report 2022All workersManagersNon-managers50YBE08%Significantly higher/lower vs Total audienceGot betterStayed the sameGot worseQ108.Thinking about the past 2 years,to what extent has your salary and the benefits you receive changed?Weighted base:All Workers(30,000)Only half of workers are satisfied with how salary reflects their experience and skillset,the hours they work,and the work they produce with the latter being slightly lower than the others.Two years after the revolution of hybrid and flexible work,salary and performance measurement processes have not yet transitioned from measuring hours to measuring output.Organisations should focus on new approaches to understanding worker productivity and ensure that renumeration better reflects measures of output.Coaching and support for leaders is key to this.Overall,satisfaction with salary is average,with only half of workers feeling that it is a fair reflection of their work,regardless of the hours versus output debate.This,in part,could be triggered by the new candidate negotiating power and due to concerns around the rising cost of living and inflationary pressures,which we will explore in more detail below.Managers are significantly more satisfied with their salary than non-managers(63%vs.38%).This is not surprising given that 6 in 10 managers said their salaries got better over the last two years,compared with only 4 in 10 non-managers.This suggests an area of concern for organisations.Companies risk losing their talent pipeline if investment in skills,progression,and salary is focused on managers,and the front-liners at non-management levels are forgotten.%Who agree that salaries have got better/stayed the same/got worse12!|Global Workforce of the Future Report 2022Significantly higher/lower vs Total audienceGot betterStayed the sameGot worseAll WorkersGermanyNordicsLatAmAustraliaSwitzerlandBeneluxCanadaEEMENAUKChinaSpainFranceItalyJapanUSA50hfcVSRQHC4QF5 b8$)&1898CCT6G#%8%5%9%9 %Q108.Thinking about the past 2 years,to what extent has your salary and the benefits you receive changed?Weighted base:All Workers(n=30,000)Even with the high sense of job security,increasing salaries,and numbers of people quitting,workers fears of an impending economic recession might slow down the Great Resignation trends in the coming months.Workers are looking for sources of additional income to combat concerns around the rising cost of living and geopolitical uncertainty,with 61%of workers globally saying they are worried that their salary is not high enough to deal with rising rates of inflation.As such,and amidst current inflation rates,non-office workers are looking for additional sources of income(or a new job with a higher salary).Economic concerns about inflation are not going anywhere,with 3 in 5 workers worrying about the current economic climate impacting their jobs;this is felt more than ever by non-desk workers.Meanwhile,current geopolitical tensions are adding fuel to the fire,with survey recipients admitting that the impact of the war in Ukraine is impacting their work and job security,with only one quarter of all workers saying they are not worried about the current situation in Ukraine.Economic uncertainty has resulted in workers being pushed to take on extra work to make ends meet.Over half of non-desk workers surveyed state that the impact of inflation means that they are more likely to look for a second job,with 4 in 10 non-desk workers admitting to having worked cash-in-hand.Over 40%of Gen Z and Millennials have admitted to this,compared with 14%of Baby Boomers.These findings predict a slowing in the Great Resignation trend over the next 12 months,as workers look for security in times of uncertainty.Geographically,salaries in the USA and China have improved the most,while in western European countries and Japan it is most likely that salaries have stayed the same.Recession Fears to Slow Great Resignation%Who agree that salaries have got better/stayed the same/got worse22|Global Workforce of the Future Report 2022Non-desk workers64chaT%All Non-desk WorkersBoomersMillenialsGen XGen ZDesk workers58hgVIsk WorkersBoomersMillenialsGen XGen ZQ108.Thinking about the past 2 years,to what extent has your salary and the benefits you receive changed?Weighted base:All Workers(n=30,000)%Who worry their salary is not high enough to deal with current rates inflation51%The impact of inflation means Im more likely to look for a second job49%The impact of inflation means Im more likely to look for a new job with a higher salary35%I have had to do work cash-in-hand due to inflation48%All WorkersSay they worry the current situation in Russia/Ukraine will impact my job/the job market negatively%Who would do the followingQ116.To what extent do you agree or disagree with the following statements about recruitment?Weighted base:All Workers(n=30,000),All Non-desk Workers(n=15,000),All Desk Workers(n=15,000)Q109.To what extent do you agree or disagree with the following statements about salaries and benefits?Weighted base:All Non-desk Workers(n=15,000)23|Global Workforce of the Future Report 2022123Organisations need to ensure that salaries for open roles remain competitive in times of extreme economic and political uncertainty,partnering with experts who use labour market data at their disposal to understand the benchmarks.Employers need to better make the link between pay and performance.Instead of over-focusing on hours worked,organisations should invest in coaching,technology,and analytics to set output goals,measure and compensate workers for their skillset,experience,and output more effectively,especially at the non-manager level at the bottom of the talent pipeline.Performance management is key to support a transparent and output-based conversation with workers.Despite the threat of talent scarcity,organisations should not focus on attraction to the detriment of retention.Workers who are staying with their current employer have serious demands too,namely career progression.Furthermore,salary should not be the sole focus for talent retention.Workers,specially non-managers,need to feel engaged,and employers need to also consider the other retention levers,namely flexibility,employee wellbeing,and career progression,to secure their talent pipeline.Key Takeaways24|Global Workforce of the Future Report 2022Retention levers b/FlexibilityThe Continuing Demand for Autonomy225|Global Workforce of the Future Report 202261% 6pts vs.202159% 19pts vs.202154% 18pts vs.2021Making changes to their home/property to make remote working easierdone/doing263%Considering31( 212022done/doing10%Considering314%done/doing10%Considering272%Moving to a job with more flexibility around working hours/schedules Reducing hours worked,moving to a 4-day week,even if theyre paid less20212022Q33:Have you done or considered doing any of the following in response to the changes in working life over the last 2 years?Weighted base:All Desk Workers(n=15,000)Flexibility has clearly become a prominent issue over the last three years,as the pandemic led to mandatory work-from-home policies where workers proved they could be as productive at home as in the office.But it would be a mistake to view this as only a recent issue:the desire for flexibility came long before the pandemic,which served more as a catalyst rather than an initiator of calls for greater flexibility at work.Flexibility has long been a key to attracting and retaining the best talent,and workers demands for more autonomy and choice about how to get work done are only increasing.This is supported by the data,as 6 in 10 desk-based workers are considering or have already moved jobs as a direct result of having more flexibility;this represents a year-on-year increase of 19 percentage points in workers who are prioritising or have already prioritised flexibility.Flexibility,then,is a key retention lever.%Who are making changes to the way they workA Key PriorityRetention Levers|Flexibility26|Global Workforce of the Future Report 20222,3Days a week3Days a week3,2ys a weekRemotelyAt the officeProportion of time want to work at officeProportion of time expected to work at officeProportion of time currently working at office2021202120222,6 daysRemotelyAt the office1,9 daysRemotelyAt the office1,6 days2022_Q101.Thinking about your current role,what proportion of your time do you spend working in the following locations in an average week?2021_S10:Thinking now to DURING the Coronavirus outbreak when changes/restrictions on where you work were put in place,what proportion of your time did you spend working in the following locations in an average week?2021_S9:Thinking back to BEFORE the Coronavirus outbreak,what proportion of your time did you spend working in the following locations in an average week?2021/2022_Q10.How many hours per week would you say you work on average in your current role?Weighted Base:All Desk Workers 2022(n=15,000);Unweighted Base:All Desk Workers 2021(n=14,800)%Of time worked in the following locations in the average weekThe pendulum is swinging back towards companies taking control over the amount of flexibility workers have on setting their(desk-based)working schedule.Apples former director of machine learning,Ian Goodfellow,made headlines in May 2022 when he resigned over the tech giants return-to-office policy,becoming one of the most high-profile figures to take a step that many are considering(especially in industries that didnt suffer significant productivity declines in the pandemic,such as the tech industry).Organisations should be careful,as the reality of hybrid work(3.2 days spent working from the office each working week)is not meeting workers desires(2.6 days at home).The Pendulum PerspectiveSet by my companyI have some flexibilityCompletely set by me56%Q11.In your current job,which of the following statements best describes your weekly working time and schedule?Base:Weighted Base:All Workers(n=30,000);All Desk Workers(n=15,000),All Non-desk Workers(n=15,000)%Who say their working schedule is set by their company/by themselvesSignificantly higher/lower vs Global sampleNon-Desk WorkersAll WorkersDesk Workers 2021 Desk Workers 65H270UD%6%5%8|Global Workforce of the Future Report 2022Take a pay cut to work fewer hours(at the same hourly rate)Keep my current working hours(at the same hourly rate)Lower my hourly rate to gain more days of annual leaveKeep my current hourly rate and number of days of annual leaveLower my hourly rate to gainmore flexibility in my working scheduleKeep my current hourly rate and level of flexibilityPrefer option APrefer option BIndifferent290)WVV%Q205.We are now going to show you a series of statements showing different working options.Please read both statements and then indicate which one you prefer if you were given these two work options(NET Agree T3B;NET Agree B3B).Weighted Base:All Non-desk Workers(n=15,000)Flexibility has a price,though,and one that non-desk workers cannot afford only 3 in 10 non-desk workers would compromise on salary to gain flexibility.This becomes a major barrier to a four-day week,as 51%of workers who took a four-day week stated that this came with a pay cut.Those likely to be in a more financially secure situation are able to make this compromise.When it comes to a four-day week,76%of workers who have that option take it,with leaders(67%)much more likely to take the four-day week option than non-managers(19%).Flexibility a Luxury for the Few%Who would do the following28|Global Workforce of the Future Report 2022Interest in a four-day working week has grown alongside the demand for greater flexibility,with many organisations discovering that it is a powerful differentiator in attracting the strongest hires,acting as a kind of talent magnet.In June 2022,the worlds largest pilot of a four-day week launched in the United Kingdom,encompassing 3,300 workers across sectors over a six-month period.Similar pilots and trials are being launched across the world,which demonstrates how seriously the four-day week concept is being examined.Currently,only 42%of desk-workers have the option of a four-day week,but only 32%make use of it,with 75%of those taking up the option saying they suffered no loss of productivity as a result.The demographics most likely to use the four-day week option are Gen Z and people in leadership roles.This suggests that a four-day week can be a crucial factor in retaining not only an organisations current leaders,but also the leaders of the future.Appetite for a four-day week among workers is strong,with 68%saying all companies should offer the option.A slightly higher proportion(71%)of surveyed workers believe that governments should do more to regulate flexible working schedules,while 70%say that a four-day week would improve their mental health with no negative impact on productivity.This all makes a strong case for introducing the option of a four-day week,but we should be mindful of the barriers.A cut in pay is involved in 51%of cases,which dissuades a fifth of people from taking up the option.Many also fear that they will inevitably end up dealing with work-related issues,effectively unpaid,on their free day,while others worry that they will be expected to deal with a five-day workload in just four days.This points to the need for an approach that is flexible enough to address individual concerns while also providing clarity on demands and expectations.Barriers to a Four-Day Week29|Global Workforce of the Future Report 2022I would need to take a wage cut to work a 4-day week and Im not willing to33%I worry the workload would be too much for 4 days,resulting in working late into the night or on the 5th day anyway27%I feel compressed hours would add too much pressure/stress to my job23%I worry working 4 days a week would harm my career progression17%I worry working a 4-day week would impact my availability for clients16%I worry working a 4-day week would harm my ability to work in a team15%I worry working a 4-day week would harm my relationships with colleagues13%Dont know7%Of those working a 4-day week use their 5th day for work2 in 1051%Did take a pay cutOf those working a 4-day weekQ121:You said you do not take up the option to work a 4-day week.Which of the following best describes why you do not take up the 4-day week option?Weighted Base:Those that do not take up the 4-day week option,Desk Workers(n=1,554)/Q119a:You said you always/sometimes work a 4-day week.Did you take a wage cut to do this?Weighted Base:Those who work a 4-day week,Desk Workers(n=4,646)%Reasons for not taking up the 4-day week option30|Global Workforce of the Future Report 2022Key TakeawaysWorkers continue to demand autonomy over working hours,working location,time off and scheduling,and organisations need to tread carefully when taking back any more control over flexibility.1The 4-day week is becoming a strong retention and attraction strategy.But When offering four-day working weeks,organisations should actively address some of the key barriers to ensure inclusivity for all workers,for example establishing effective boundaries to ensure the fifth day is unimpeded.2Automation of repetitive tasks via technologies such as AI and machine lear-ning will play an important role in this shift,with IT systems and technologies allowing collaboration and seamless hybrid working.331|Global Workforce of the Future Report 2022Retention levers c/Career ProgressionStuck in the Middle:Are Middle Management on the Road to Nowhere?2 32|Global Workforce of the Future Report 2022Parity in the Pipeline?Retention levers|Career Progression31%of workers state that the primary reason to quit is a lack of progression and re-and upskilling opportunities,leaving companies in danger of losing their talent pipeline.With satisfaction levels differing between the two,it seems non-managers might be falling through the gaps at the expense of their more senior counterparts.Only 40%of non-managers say they are satisfied with their career prospects at their company,compared with 70%of managers.Similarly,only 36%of non-managers(compared with 64%of managers)say their company is investing effectively in developing their skills,a worryingly low statistic for a demographic who are likely to be impacted the most by the reskilling emergency.Companies are at risk of losing their talent pipeline as most of their efforts are focused on managers development,skills,and rewards,instead of non-managers who report much lower satisfaction and exposure to opportunities.Companies are struggling to find and retain talent.Salary and career progression(including career conversations,internal mobility,and skilling opportunities)are highly important for all workers and where satisfaction is at its lowest levels.We see that salary has increased much more for managers than for non-managers,but also see managers having much more exposure to training opportunities and career progression conversations(60%vs.40%).Those that have more career conversations also see more internal opportunities and are encouraged to grow internally in their current company.It seems that non-managers are the forgotten piece of the puzzle.Say they are satisfied with their career prospects at their companySay their company is investing effectively in developing their skillsSay their company regularly assesses their skills and helps them devise a development planSignificantly higher/lower vs Total audience54iAId6Pd8%All workersManagersNon-managersQ31.How satisfied would you say you currently feel about the following?(NET Satisfied,T2B)/Q7.Thinking about how well-equipped you currently are for work,how far would you agree or disagree with the following?(NET Agree)Weighted base:All Non-desk Workers(n=15,000)%Who are satisfied with career prospects and company investment and assessment of skills44%Who want to stay at their current company want to progress/upskill for a new job33|Global Workforce of the Future Report 2022Once every quarterAt least once every 6 monthsAt least once a yearNeverCompany shares internal job openings so that existing employees can apply61RH%Manager/company/HR encourage me to apply for internal job opportunities50A5%3%Q125:Which of the following apply to you?Weighted Base:Those that have had a career progression discussion:at least once per quarter(6,273),at least once every 6 months(9,275),at least once a year(11,759),Never(2,015)Frequency of career progression discussionsInternal mobility is a key component for talent retention.Enabling people to progress and develop in any direction within the organisation itself ensures they are more likely to remain into the future.Without the possibility to grow,they will look for opportunities elsewhere.It is incumbent on employers to make internal mobility a priority to ensure their business is future-proofed and their employees are satisfied.70%of workers agree that organisations should train,upskill,or develop existing employees for different roles across the organisation before hiring external candidates.But employees require the support of their managers to find new internal roles,as evidenced by the relationship between internal mobility and career conversations above,and by the fact that only 17%of workers globally are actively looking for new opportunities within their current organisation over the next 12 months.Career conversations are a critical part of career progression and retention,yet almost a quarter of the workforce have never had a career progression conversation in their current job.A lack of exposure to career progression conversations means,in turn,that there is a lack of awareness and encouragement to apply for internal opportunities for workers.Those having frequent career conversations are 3 times more likely to be encouraged to apply for internal job opportunities.However,23%of workers have never had one.%Who say company often shares internal job openings/opportunities frequency of career progression discussionsInternal Mobility for Future ResiliencySilence is not Golden34|Global Workforce of the Future Report 202277%of workers say they have a skills gap.This is particularly prominent for those not in managerial roles;only 36%of non-managers say their company invests and assesses their skills.Younger generations feel this skills gap more prominently(Gen Z,86%and Millennials,84%).Workers needs must be met by companies,which need to invest in reskilling employees particularly at the non-management level.Reskill or Risk a Talent Exodus35|Global Workforce of the Future Report 2022Key TakeawaysOrganisations must urgently address dissatisfaction with career development opportunities,especially for non-managers.Focusing on career conversations and performance reviews is a great place to start.Organisations struggling to find the right skills in the job market must invest in skills mapping,reskilling,and upskilling.Development of workers,especially at non-management level,is vital.Not only will it increase their satisfaction,but it will future-proof the business and create a talent pipeline of skilled workers.Organisations must be mindful of departments talent hoarding and promote a culture of internal mobility.123Coaching leaders to have the right performance conversations with colleagues,to create attractive career paths with transparent benefits,can help address expectations and increase retention.Coaching for non-managers can help avoid quiet quitting.36|Global Workforce of the Future Report 2022Retention levers d/Mental Health and WellbeingRethinking Wellness Programs:Believe in Leave237|Global Workforce of the Future Report 2022Q6.Thinking about the following aspects of your own working life,which do you feel have got better during the last 12 months,and which have stayed the same or got worse?(NET Worse)Weighted base:All Workers(n=30,000)Although mental health has improved since 2021,a quarter of all workers say that their mental health has become worse over the past year,and burnout continues to be a global and universal issue,spanning all respondents regardless of age,nationality,or gender.Spain,Italy,and France are the countries where mental health has worsened the most,with non-managers feeling it the most.%Who say their mental wellbeing has worsened over the last 12 monthsBurnout is still a cause for concern for half of the workforce.Workers want jobs where they feel less burned out and have a better work/life balance,with 35%saying they will quit in the next 12 months due to concerns with work/life balance and burnout.Retention levers|Mental Health and WellbeingBurnout and BalanceUSA18%All WorkersGermany24$%UK25%China5%Spain32%FranceItaly311%Japan26nadaEEMENA27%SwitzerlandBenelux20 %Nordics26%LatAmAustralia24$8|Global Workforce of the Future Report 2022Say they have taken a career break due to burnout before Say that they suffered burnout in the last 12 months from working too hard Gen Z40%Milennials42%Gen X32by boomers20%Managers45%Non-managers29%Gen Z31%Milennials26%Gen X19by boomers13%Managers27%Non-managers176#%Q130.To what extent would you agree or disagree on these statements surrounding burnout?(NET Agree)All Workers(n=30,000),All Non-desk Workers(n=15,000),All Desk Workers(n=15,000)%Who say they have suffered with burnoutHalf of workers globally(49%)are worried about burnout in the future,and their fears are justified.Almost 4 in 10 workers(36%)say they have suffered from burnout and almost 1 in 4 have taken a career break in the last 12 months due to burnout.This is reported more highly in Gen Z(40%)than Baby Boomers(20%).This should concern companies because an emotionally drained workforce is not only detrimental to individuals but can also have a high cost in terms of productivity and morale,as well as encouraging toxic environments where people quietly quit.39|Global Workforce of the Future Report 2022418654102)%Encouraging employees to take all of their annual leaveCulture of trust where people feel safe to express themselvesAllowing employees time off for mental healthAn environment of inclusivity/clear sense of belongingAllowing employees more annual leaveCelebrating project/team/company successes togetherAllowing for shorter shifts*asked of Non-desk Workers onlyAccess to free psychological therapists provided by your employerAbility to dedicate working hours to mental/physical wellbeingAllowing employees more sick timeProviding mental wellbeing programmesFrequent training/a guide on how to manage mental wellbeingFrequent conversations with managers about mental wellbeingFrequent team building/social activitiesAllowing for more flexible hours*asked of Non-desk Workers only29)(%All WorkersQ133.Which of the following actions would you find beneficial to support workers with mental wellbeing?(NET Must Have)Weighted base:All Workers(n=30,000)While companies that introduced meditation,yoga and wellbeing programs should be applauded,to deal with burnout organisations must do three things.Firstly,encourage their people to take all of their annual leave entitlement,secondly,enable workers to take time off to address mental health concerns and,finally,create a culture of safety and trust.These are the things that workers say are the most important must-haves to support their mental wellbeing and are the lynchpins of an effective corporate wellbeing strategy.%Who feel these are must haves to support workers with mental wellbeingWorker Wellbeing Must-Haves40|Global Workforce of the Future Report 2022342A3204$%#% %Exercise/play sports/go for a walkHobbies or projects I am passionate aboutUse all my allocated holiday daysTake regular breaksListen to music/podcasts while workingTry to only work my contracted hours per weekWork a flexible schedule to fit in with my perso-nal lifeManage my workload through planning and agreeing clear priorities with my teamTake sick days when I feel mentally unwell(e.g.suffering from burnout)MeditationAll Non-Desk WorkersAll Desk WorkersSignificantly higher/lower vs Desk workersQ132:Which of the following do you do personally to maintain your mental health and emotional wellbeing?Weighted base:All Workers(n=30,000);see detailed sub group bases at front of reportOnly 33%of workers use all their allocated holiday days to maintain their mental wellbeing.Employees are not taking their full leave,despite productivity arguments for doing so,while 1 in 2 workers worry about burnout in the future.Though speaking about mental health has become much more normalised in recent years,the reality of accepting it is far from here.This is supported by a recent LifeWorks statistic stating that 93%of Americans are hesitant about how mental health conditions are treated by their employers.Employers need to be mindful of this,particularly in the current economic situation where added stresses,such as a looming recession and geopolitical concerns,may take an extra toll on employees.While 61%of managers believe their employer addressed mental health and wellbeing problems well,only 33%of non-managers think so.The stigma surrounding mental health in the workplace is still prevalent and more action needs to be taken by organisations to break the taboo so that workers can access the support they need.While discussing mental health has become much more normalised,only 17%of workers take a sick day when feeling mentally unwell,and only 3 in 10 workers use all of their allocated holidays to maintain their mental health and wellbeing.It seems that while employers are talking the talk,they are yet to create environments where employees can walk the walk.The Dissociation Deficit%who do the following to maintain their mental health wellbeingSick Leave and Mental Health41|Global Workforce of the Future Report 2022Encouraging workers to take their full annual leave,creating a culture of trust and safety,and allowing sick leave for mental health are the top three must-have measures companies should implement to support workers wellbeing.Key TakeawaysManagers and workers alike need to be coached and encouraged to initiate conversations around mental health and wellbeing.Coaching programs will help leaders and workers prioritize wellbeing and prevent quiet quitting.12Using technology and big data for employee wellbeing can help companies have more visibility into burnout warning indicators,and raise flags for managers to start the conversations.342|Global Workforce of the Future Report 2022Future Perspective The impact of Mega Trends3While labour market trends vary between geographies,a few stand out for their global impact we term these megatrends.Workers across the world and in every sector are(or will be)affected by the growth of the gig economy and the transition to a green economy,as well as the closely related tech-driven trends of automation,AI,and digitalisation.In a similar vein,the whole world is affected to some degree by economic and geopolitical uncertainty,with recovery from the economic impact of Covid-19 still shaky,and all set against a backdrop of the conflict in Ukraine and rising tensions elsewhere.While we do not consider these to be specifically labour market megatrends,we included them in our research as they are vital external factors for understanding worker concerns.We asked non-desk-based workers whether they were apprehensive about these ongoing megatrends,namely the gig economy,the transition to a green economy,and the move toward digitalisation and automation,and we asked them to assess the impact it would have on their job.We also asked them if they were worried about economic and geopolitical uncertainty.The results proved illuminating.Economic and Geopolitical WorriesGlobally,workers are more worried by economic and geopolitical instability than the megatrends reshaping the world of work(the green transition,the gig economy and tech trends).Economic instability stood out,with 57%citing it as a concern;geopolitical issues were cited by 46%,just ahead of the most worrying megatrends(the gig economy and automation,at 43ch).It is no surprise that economic concerns are the outlier here,with workers concerned about inflation as well as the impacts of the conflict in Ukraine,both of which feed into rapidly rising costs of living.But surprisingly,there is less apprehension about the key labour market megatrends.Only 36%of non-desk-based workers reported concern about the transition to a green economy,despite recognising that it may require them to undertake significant reskilling.This may represent growing recognition of the need for action on the climate crisis,but it also reflects the fact that we are at an early stage of this transition,when the precise impact on jobs and skills remains largely unknown.Further consideration of this is given in the Adecco Groups white paper Skills for the Green Economy:Why Investing in People is Key.A similar story can be seen with the other megatrends.Automation and the gig economy are the greatest cause for concern,as workers see these as a potential risk to their roles and livelihoods,but they still rank lower than geopolitical and economic instability.It is worth noting,though,that concern around each megatrend rises when workers are asked to assess the impact it would have on their job.This points to a need for employers to be proactive in reskilling and upskilling their people to be ready for the changes ahead.Instability is the Major Concern43|Global Workforce of the Future Report 2022While workers are less worried about the megatrends than geopolitical and economic issues,this doesnt mean that they are complacent.Non-desk-workers have a clear understanding that these trends will require them to develop new skills,with a full two-thirds(66%)saying that digitalisation will force them to learn new skills.AI and automation follow closely behind at 63%and 62%,respectively.These high percentages indicate that workers have thought about the long-term impact of megatrends and,in some cases,have considered a change of career as a result.Employers strive to retain their strongest talent,and in the context of change brought about by these trends,that means making reskilling and upskilling a key part of every companys retention strategy.The Re-and Upskilling Emergency48FA1)%will make it a lot harder for me to find jobs in the future will force me to consider a change career will force me to learn new skills will make my skill set less relevant to the job market will make me lose my jobQ219:You said you are worried about the impact ofmegatrend on your job.To what extent do you agree or disagree with the following statements?(NET Worried T2B)Weighted Base:All Non-desk Workers(n=15,000)Megatrend that is the biggest threat to the following:%Who worry that megatrends will have the following negative impactsEconomic uncertaintyGeopolitical uncertaintyThe gig economyArtificial IntelligenceDigitalisationTransition to green economy51HA97aXQSEbQVHYcRVHWfQTG%Automation54PPFD|Global Workforce of the Future Report 202245|Global Workforce of the Future Report 202257FBB976onomic uncertaintyThe gig economyGeopolitical uncertaintyAutomationArtificial IntelligenceDigitalisationTransition to a green economyQ218:To what extent are you worried about the impact that the following“megatrends”will have on your job?By“megatrends”we mean powerful,transformative forces that could change the global economy,business,and society.(NET Worried T2B;NET Not worried B2B)Weighted base:All Non-desk Workers(n=15,000)Top 3 worries per country/region67aXYXWS78612SC43(&QI730%6#!eSSGBAH52311&VEADCATB99845YYWXWVVDFC96rWWSFBCSC775TA11%&dUHGECB%Who are worried about the following megatrendsOf course,the global figures only give us a broad picture.Breaking down the results by geographical region reveals that these concerns are being felt to different degrees,with Australian workers expressing the highest levels of concern overall.Other geographical disparities reflect specific concerns in that part of the world.For example,workers in Latin America are the most worried about economic instability by some margin(72%,compared with the global average of 57%),likely a result of that regions historical struggles with high inflation.Meanwhile,Chinese workers are the most concerned about geopolitical uncertainty,reflective of growing tensions around the status of Taiwan.Employers,especially multinationals,should note that these concerns are felt to varying degrees in different geographies this means a one-size-fits-all approach is likely to be inadequate.Geographical DisparitiesEmployers have very little ability to directly address the areas of greatest concern,namely geopolitical and economic uncertainty,but they hold significant power to change how workers feel about them.Those megatrends will mostly impact workers long-term employability and prospects if they let their skillset become obsolete.But workers who have the skills they need and regularly keep them up to date remain in control of their working future and will feel better equipped to cope with instability and uncertainty.For employers,this means assessing the extent to which each megatrend will impact workers in the organisation,and ensuring they have skills and competencies they will need in the future.Globally,70%of all workers see employers as having the greatest responsibility for ensuring a better working future,so it is incumbent on organisations to step up and prove to workers that their company is the best possible place to get ready for the future of work.If your strongest talent cannot access opportunities to reskill and upskill within your organisation,they will find them elsewhere,whether that means a career change or a move to a competitor.How Should Employers Respond?All WorkersGermanyBeneluxCanadaChinaSpainJapanUSASwitzerlandNordicsFranceLatAmEEMENAItalyUKAustralia46|Global Workforce of the Future Report 2022Despite the climate change and the rise of automation,workers main concerns are in fact geopolitical and economic uncertainty.Organisations should be prepared to foster transparent conversations about the impact of this uncertainty on their organisation and their workers employability to support them in times of flux.The acute crisis felt from a post-pandemic recovery,the conflict in Ukraine and rising tensions in Taiwan should not distract organisations from the substantial dangers to employees longer-term employability posed by other megatrends.Employers are seen as most responsible to ensure a better working future.As such,organisations must begin to invest in the skills for the future,including those needed for the green economy.123Key Takeaways47|Global Workforce of the Future Report 2022Unravelling the Talent ConundrumSummary48|Global Workforce of the Future Report 2022BackgroundSet against a backdrop of the world of work in transition following the Covid-19 pandemic that brought enforced lockdowns,work from home policies and a deep re-evaluation of workers priorities,this report set out to investigate workers new attitudes towards work and offer effective solutions to companies struggling with talent attrition.In the third iteration of this annual survey,30,000 workers,both desk-based and non-desk-based were interviewed.While headline results such as“27%of the global workforce are planning to quit in the next 12 months”support the continuation of the Great Resignation,there are subtleties behind this that paint a more complex picture.Despite reporting a high sense of job security,workers concerns over geopolitical unrest and the looming economic recession show signs of the Great Resignation potentially slowing down.The report uncovers potential strategies for companies to attract new talent,retain their existing talent and,more importantly in a time of scarcity and uncertainty,to build their own talent pipelines.To do this,we created a unique matrix consisting of four quadrants.This formula maps employee satisfaction and derived importance of key aspects of work,thereby underlining high-impact areas that employers need to prioritise to ensure an engaged and future-proof workforce,namely:Salary,Flexibility,Career Progression and Upskilling,and Wellbeing.Salary Balance-A Tool for Attraction,but Not for RetentionSalary is the number one reason for workers to quit their jobs in the next 12 months.As companies grapple with attrition,and inflation worries grow,increasing wages has become a quick tactic to attract the right people in the past year.However,higher pay alone does not have a lasting impact on retention.While salary is important,our matrix unearthed areas that organisations should focus on as antidotes to wage inflation.We termed these areas retention levers.With almost half of workers feeling that their salary is not a fair reflection of their work,companies need to fully transition to linking pay with performance,rather than focussing on hours worked.Similarly,and in a time of talent scarcity,companies should not concentrate on attraction to the detriment of retention.Having a future-proof,skilled and engaged talent pipeline is key for organisations to navigate the changing economic environment.Workers who are staying with their current employer see salary as a secondary priority,but their engagement should not be taken for granted.Flexibility-The Continuing Demand for AutonomyWith companies starting to encourage staff to spend more time in the workplace,the results of this survey highlight that workers continue to demand autonomy over working hours,working location,time off and scheduling.6 in 10 desk-based workers are moving or have already moved jobs as a direct result of having more flexibility;this represents a year-on-year increase of 19 percentage points in workers who are prioritising or have already prioritised flexibility.In fact,30%of workers that are planning to quit their jobs this year state flexibility as their main reason.Offering a four-day week is a growing trend amongst companies aiming to attract talent,especially in China,the USA and Benelux,but its currently only available for 42%of desk-workers globally,and it usually comes with a pay-cut and workload stress.Flexibility continues to be a key retention lever and organisations need to tread carefully when taking back control over workers autonomy setting working schedules and location.For non-desk workers,though,flexibility has a price that not everyone can afford only 3 in 10 non-desk workers would compromise on salary to gain flexibility.Companies looking at retaining and attracting non-desk-based workers should provide more autonomy on choosing shifts,working days and holidays.49|Global Workforce of the Future Report 2022Career Progression-Stuck in the Middle:Are Middle Management on the Road to Nowhere?31%of workers state that the primary reason to quit is a lack of progression and re-and upskilling opportunities,with the younger generations feeling this skills gap more prominently(Gen Z,86%and Millennials,84%say they have a skills gap).Furthermore,only 4 in 10 of non-managers say they are satisfied with their career prospects and skills investment at their company,compared with 7 in 10 managers.As such,career development opportunities,especially for non-managers,must be addressed as a matter of urgency.The report reveals that workers who have less career conversations show lower satisfaction in their current job and are significantly less aware and encouraged to apply for internal job opportunities.Given that almost a quarter of the workforce have never had a career progression conversation in their current role,leaders need to be provided with tools,processes and coaching to have the right performance conversations with their teams.Additionally,organisations must be mindful of departments talent hoarding and promote a culture of internal mobility.70%of workers agree that companies should upskill and develop internal employees before hiring externally.But there are clear barriers to internal mobility that need to be addressed:firstly,as explained,making workers aware of internal opportunities through career conversations;secondly,providing adequate training opportunities to progress into new roles;and thirdly,reducing friction for workers looking to move into new roles across the company.Again,in a time of talent scarcity,organisations must invest in skills mapping,reskilling,and upskilling programs.Development of workers,especially at non-management level,is vital to build talent pipelines.Mental Health and Wellbeing-Rethinking Wellness Programs:Believe in LeaveWith half of workers globally(49%)worried about it,burnout continues to be a global and universal issue,spanning all respondents regardless of age,nationality,or gender.35%of respondents say they will quit in the next 12 months due to concerns with work/life balance and burnout.However,only 33%of workers use all their allocated holiday days to maintain their mental health and wellbeing.And only 17%of workers take a sick day when feeling mentally and emotionally unwell.Workers are not taking their full leave or sick leave,despite productivity arguments for doing so.It comes as no surprise that workers have started embracing quiet quitting to protect themselves against burnout.Undetected by traditional attrition reports,this trend can cause damage to the corporate culture promoting a toxic environment where workers dont feel safe to speak up,and instead decide to disengage.It is time to reboot corporate wellbeing programs to offer more effective initiatives.While wellbeing training,meditation and yoga can have positive impacts,workers want specific measures focused on incentivising the use of their full annual leave,creating a culture of trust and safety,and allowing sick leave for mental health.Managers and workers alike need to be provided with specific processes,coaching and incentives to initiate conversations around mental health and wellbeing.Coaching programs will help leaders and workers prioritise wellbeing and prevent quiet quitting.Future Perspectives-The Impact of MegatrendsWhile workers are mindful of megatrends such as the transition to the green economy,and the rise of automation and the gig economy,it is clear that economic instability and geopolitical issues are the things worrying workers the most.However,even though workers are less worried about the coming megatrends,they do have a clear concern that these trends will require them to develop new skills,with a full two-thirds(66%)of non-desk workers saying that digitalisation will force them to learn new skills.Employers are seen as most responsible to ensure a better working future.As such,organisations need to recognise that while they cannot directly affect economic instability and geopolitical issues,they can lessen these concerns by having transparent conversations with workers.Companies must also increase focus on mapping and investment in the skills for the future,including those needed for the green economy.50|Global Workforce of the Future Report 2022More informationFor media enquiries,please contact:For business solutions,please contact:
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