IdentityForce is excited to announce the release of its latest market study, our 2018 Benefit Broker Survey. Between January and March of 2018, we surveyed over 100 benefit advisors and consultants throughout the United States. The goal of this research was to gain direct insights into the trends around how employers evaluate and adopt new employee benefits, and what new benefits are most in-demand.
The results of this survey paint a powerful picture about the biggest drivers for employers to select a new employee benefit. By ranking their selections, 80 percent of respondents indicated that price was the biggest driver, with a close second (77 percent) being value to employees. Interestingly, the third biggest driver (36 percent) was ease of enrollment, an area where benefit brokers are becoming increasingly hands-on with their clients.
Another highlight of IdentityForce’s 2018 Benefit Broker survey is that progressive benefit offerings continue to rise. Wellness Programs took the lead among the most-requested, non-traditional employee benefits, with 54 percent of broker respondents naming them as being either requested regularly or in high demand. With Millennials now making up the majority of the U.S. workforce, many of whom are saddled with student load debt, it’s no surprise that financial and other wellness programs are the leading progressive benefits that employers request from broker partners.
The results also showed that the majority of benefit brokers receive regular requests for Identity Theft Protection as an employee benefit. 57 percent of our benefit advisor respondents reported that identity theft protection is regularly requested by their client base. Additionally, 59 percent of broker respondents have go-to identity theft protection vendors that they recommend regularly to their clients.
Access the 2018 Benefit Broker Survey
For these and other direct insights from benefit advisors and consultants, download the results of IdentityForce’s 2018 Benefit Broker Survey.