Due to new and growing challenges like high inflation, there has been a growing emphasis in the workforce to reassess financial benefits. According to recent research by Morgan Stanley, it’s spread so far and wide that it now covers virtually everyone in the labor market: 90% of employees and 96% of HR leaders are now prioritizing a re-assessment of benefits packages.
Furthermore, an overwhelming 96% of HR leaders agree that their company must do a better job helping employees maximize the financial benefits offered to them.
As a result, employers will see a growing trend of employees paying much closer attention to their workplace benefits. This extends beyond just conventional healthcare coverage – it also includes ancillary benefits like dental, vision, life, and disability.
Third-party administrators (TPAs) can help employers with their benefits administration and customer service. CoPower is a TPA that provides consolidated administration in the ancillary space and corporate benefits to over 6,000 employer groups and 250,000 employees and their families.
To learn more about CoPower, contact us today!