'Focusing solely on reactive interventions without addressing preventative measures is a shortsighted approach'
By Jim Wilson
Jan 16, 2025
A global report raises the question: Are employers showing less concern for workers’ wellbeing?
Employer spending on wellbeing benefits has dropped significantly, falling by 13 per cent since 2022, according to a report by Ben, a company specializing in benefits spending.
In 2024 alone, spending on these benefits declined by 10 per cent, according to the survey of more than 1,200 businesses across more than 140 countries in 2024.
Instead, it appears that employers are prioritizing foundational benefits.
Between 2023 and 2024, spending on medical insurance and life insurance more than doubled.
Rising costs are a significant factor driving this shift, says Ben.
“Premium pressures and local tax changes have driven insurance costs up by 30 per cent to 70 per cent. Employer medical care spend alone has increased by 115 per cent in 2024, despite the number of companies offering it remaining fairly consistent.
“For many companies, this is unsustainable. As a result, employers are turning their attention away from benefits that are more challenging to prove ROI from, in favour of more tangible benefits. They have been forced to rethink coverage, focus on high-impact policies, and better communicate their existing benefits.”
While these strategies may help in the short term, they are not a long-term solution,...
This article is part of The Poynter 50, a series reflecting on 50 moments and people that shaped journalism over the past half-century — and continue to influence its future. As Poynter celebrates...