• 3,000 firms
  • Independent
  • Trusted
Save up to 70% on staff

News » More employers ramping up employee benefits globally: WTW survey

More employers ramping up employee benefits globally: WTW survey

Photo from WTW

LONDON, UNITED KINGDOM — A major shift is underway in how multinational companies approach employee benefits. 

According to a recent report by consultancy firm WTW, 70% of employers now have global minimum standards in place for benefits like parental leave, life insurance, retirement plans, and health coverage. This marks a stark rise from just 36% in 2019.

Traditionally, HR departments have taken a reactive approach, surveying the benefits landscape across various markets and striving to meet minimum standards. This approach ensures employees have access to certain perks, even if they are not widely prevalent in the country where they are based.

Several employers, including Thomson Reuters, London Stock Exchange Group, Nokia, and Sanofi, have set goals for globally consistent benefits for their employees.

The survey of 254 global companies found that 63% are actively aligning their benefits with organizational purpose and values, aiming for more ’employee-centric’ programs. However, only 28% prioritize offering flexible benefit choices tailored to employee preferences.

“Global minimum standards are one way to signal an ambition for employee benefits to be inclusive,” said Nigel Bateman, Managing Director at WTW.

“More employers are incorporating global minimum standards for employee benefits, as part of designing benefits that better support employee wellbeing, attraction and retention.” 

This trend signals a broader shift towards valuing employee wellbeing (61%) and equitable, inclusive benefits (56%) over just market competitiveness.

“Employers will need to take a more employee-centric focus on which employee benefits are provided and how they are delivered.” 

“Wellbeing will need to be viewed as an outcome to be achieved, rather than a set of programs to be added,” Bateman advised.

Start your
journey today

  • Independent
  • Free
  • Transparent

About OA

Outsource Accelerator is the trusted source of independent information, advisory and expert implementation of Business Process Outsourcing (BPO)

The #1 outsourcing authority

Outsource Accelerator offers the world’s leading aggregator marketplace for outsourcing. It specifically provides the conduit between Philippines outsourcing suppliers and the businesses – clients – across the globe.

The Outsource Accelerator website has over 5,000 articles, 350+ podcast episodes, and a comprehensive directory with 900+ BPO companies… all designed to make it easier for clients to learn about – and engage with – outsourcing.

About Derek Gallimore

Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.

“Excellent service for outsourcing advice and expertise for my business.”

Learn more
Banner Image
Get 3 Free Quotes Verified Outsourcing Suppliers
3,000 firms.Just 2 minutes to complete.
SAVE UP TO
70% ON STAFF COSTS
Learn more

Connect with over 3,000 outsourcing services providers.

Banner Image

Transform your business with skilled offshore talent.

  • 3,000 firms
  • Simple
  • Transparent
Banner Image