Benefit Strategies for Tomorrow’s Workforce

Insights from the 2017/2018 Asia Pacific Benefit Trends survey

October 2017
| Australia, China, Hong Kong +11 more
  • India
  • Indonesia
  • Japan
  • Malaysia
  • New Zealand
  • Philippines
  • Singapore
  • South Korea
  • Taiwan
  • Thailand
  • Vietnam

In Asia Pacific, while employers are aware of the potential power of benefits to attract, retain and engage (Figure 1), they are facing a number of headwinds — including rising benefit costs, a weakening global economy, rapidly changing technology and a changing workforce — that require benefit design and delivery to be more agile than ever.

Also noticeable is the perception gap between employers and employees — while two-thirds of employers said that they felt employees highly value their benefits package, a separate survey[1] of employees in the region found that only 45% of employees agree.

Figure 1: Employee benefits - strategic goals

Employee benefits - strategic goals

Against this backdrop, the 2017/2018 Asia Pacific Benefit Trends Survey finds that the top priorities of employers in Asia Pacific for their benefits programs over the next three years are to focus on changing benefit designs to manage costs and influence behaviours (Figure 2).

Figure 2: Top priority over the next three years

Top priority over the next three years

This suggests that employers increasingly recognise that, while costs need attention, a simple strategy of cost containment can no longer be effective and that employee behaviour can itself be a cost driver.

Read our report to find out how employers in Asia plan to achieve their aim to better manage costs, whilst simultaneously tailoring design to influence behaviours. How can they engage employees in their benefits, and use them to improve health and financial security?

[1] 2017/2018 Global Benefits Attitudes Survey, Asia Pacific