Employers continue to seek economies, with many reviewing their providers or advisers and the fees or commission they pay, says Tynan Barton
The economy has put pressure on employers to cut the cost of their group risk benefits, as cited by 48% of respondents. Over half (58%) have reviewed their providers to get a new deal, and 28% have reviewed the fees and commission they pay. Restructuring and communication have also been key areas of focus.
In the next year, many employers will continue to review what they pay providers and advisers for benefits. Although 30% of respondents say they will take no action, 24% will increase the number of staff covered, and others plan to put benefits in a staff-funded voluntary scheme or employer-funded flex.
Read more Group Risk Research 2011