Recent data reveals a troubling trend: employee satisfaction with workplace benefits has reached its lowest point in a decade, falling to 61 percent in 2023 from 64 percent in 2022. As employers navigate a rapidly changing landscape marked by inflation, mental health challenges, and ongoing pandemic-related issues, employees are calling for more comprehensive support. Experts argue that a re-evaluation of employee benefits, grounded in data-driven insights, is necessary to address these concerns and bolster workplace satisfaction.

The burden of paying for healthcare benefits has grown substantially for many employers. As the average expense for employee healthcare is projected by the Society for Human Resources Management to increase by 6.5 percent in 2023, surpassing $13,800 per employee, businesses of all sizes struggle to balance their budgets while ensuring their workforce remains healthy and productive.

In 2020, the U.S. Congress passed the Families First Coronavirus Response Act in response to the COVID-19 pandemic. This act required states to maintain Medicaid coverage for most enrollees and barred disenrollment for Medicaid recipients during the public health emergency (PHE) to help ensure that individuals had health coverage during the pandemic.

On March 20, President Joe Biden vetoed the US Senate’s vote to overturn the Environmental, Social, and Governance (ESG) rule, which allows retirement plan fiduciaries to consider ESG factors when selecting investments.

Employers across various industries face unprecedented challenges as they deal with the surge in employee absences caused by the simultaneous spread of COVID-19, flu, and respiratory syncytial virus (RSV).