The Changing Benefits Buying Landscape
Employees today are demanding more and more out of their benefits package. Historically low unemployment has made the employee a key influencer in the benefits decision, and employers are struggling to keep up with rising expectations from their workforce. To acquire and grow SMB accounts, carriers and brokers must work together to build a seamless journey from switching, to funding, to shopping, to enrolling and managing benefits.
We conducted a multi-faceted research study on workplace benefits with business owners, HR buyers and employees. In surveying over 300+ small business (<100 employees) employers and employees, conducting candid interviews to identify buying decision drivers, and tracking online conversations to surface real-time trends, we uncovered a number of pain points and barriers: