Our latest study on compensation and benefits sheds new light on what matters most to over 3,250 employees and HR specialists across Australia, Germany, India, Ireland, the Netherlands, New Zealand, Singapore, Sweden, the UK and the US. 

Benefits and the employee experience have never been more important. Over the past year, organizations have doubled down on initiatives to improve the overall experience – but are employees truly feeling the value of all this work? 

Our new report, Propel Reward and Benefits, based on responses from 3,250 HR specialists and employees, reveals a clear gap between employers and employees. While 60% of employers believe they provide an excellent experience, only 19% of employees agree. 

More than half of employees say their expectations have risen over the past year – across everything from pay and benefits to recognition, wellbeing and flexibility. 81% want benefits that adapt to their life situation and needs over time, and the same share believes employers should do more to support rising living costs. 

These rising expectations also place higher demands on employers. As many as 68% of employers report that employee expectations regarding benefits have increased significantly. This growing demand has pushed benefits higher on the HR agenda – and for good reason. Employers recognize strong links between benefits, engagement, well-being, and productivity. Meeting employees’ constantly evolving needs is therefore key to shaping how they experience their employer – and a strategic advantage in the competition for talent. 

The value gap: when the experience doesn’t land 

Despite recognizing the importance of benefits and increasing their investments, 62% of employees say they struggle to understand the full value of their benefits. Many people are unaware of their entitlements or how to utilize the benefits offered. Our study shows that communication and user-friendly benefits platforms have a decisive impact on how well employees perceive and appreciate their total offering. 

“When communication is thoughtful and intentional, it becomes easier for employees to look beyond individual benefits and understand the full value of everything their employer provides. That’s exactly why Total Reward Statements are becoming more popular – they offer a clear overview and make the full package more tangible, helping employees appreciate their total compensation.” says Li Lignell, Head of HR Nordics at Benifex. 

Rising expectations have also increased the pressure on HR and benefits teams, and many see significant potential in letting AI take over parts of their workload. An impressive 96% of HR and benefits leaders believe AI can play a critical role in meeting the growing expectations in this area. 

Want to explore the full findings and the latest data – and learn how to use the employee experience as a strategic tool to address talent shortages, future-proof your workforce, and strengthen engagement and productivity? Download the guide, Propel Reward and Benefits here!