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Category: employee focus
About our study
Over the past 18 months, Willis Towers Watson conducted a survey of employers and employees who use our Group Marketplace for their benefits to learn about their experience. This survey targeted employees with open enrollment dates between January and December 2017, and employers with benefits effective dates between April 2017 and March 2018.
What we learned
The data show that overwhelmingly, employers and employees are satisfied with their marketplace experience.
Employers are glad they made the switch from a traditional benefit delivery model, and report strong satisfaction with cost control, streamlined administration, and the implementation and renewal process.
Employees reported satisfaction with having choice in benefit offerings, the ability to choose their own benefits, and the benefits they chose. Employees also are more likely to stay with their employer because of the marketplace.
What did employees tell us about their marketplace experience?
What did employers tell us about their marketplace experience?
Better with time
Our survey found that over time, renewing employers feel even more strongly about their experience in terms of overall satisfaction, ease of administration and the amount of control they had over the benefits selection process.
And most renewing employees saw little need to make substantial changes to their previous year’s portfolio, underscoring the impact of choice and decision support to help employees find the right benefits for them.
The data is in — employees appreciate employers that give them choice over their benefits, and employers can reap the rewards in terms of increased attraction and retention.
Willis Towers Watson