The COVID-19 pandemic brought forward human-capital-centered policies. For the majority of employers, the immediate focus became the health and wellness of their employees.
LIMRA surveyed 1,200 Canadian employers to determine the latest trends in employee benefits strategy. It was determined that benefits program components (insurance, retirement, and non-insurance plans) are largely managed independently from each other, despite the fact that these elements have one common goal — to attract and retain employee talent. This misalignment might prevent employers from quickly adapting to new environments, such as COVID-19, for example, where the strategic course of all benefit offerings, whether insurance, retirement, or non-insurance benefits, needs to be reevaluated concurrently.