A recent survey conducted by Gallagher, a global insurance brokerage and consulting firm, revealed that nearly one-third of employers plan to expand their voluntary benefits offerings by 2027. This trend highlights the increasing significance of voluntary benefits as a vital component of contemporary employee benefits packages.
Over 70% of surveyed employers stated they offer these benefits to ensure their benefits packages are both comprehensive and competitive.
Call us today at 909.466.7876 and discover how we can help you create a more comprehensive Health & Employee Benefits package. Also, check out the Complete Guide to Insurance for Delivery Drivers in California.
What Are Voluntary Benefits?
These are employee-selected insurance products or services made available through the workplace. Typically, these benefits are:
- Paid by employees,
- Facilitated by the employer,
- Managed by a carrier or enrollment firm, and
- Deducted directly from payroll.
In recent years, voluntary benefits have gained popularity due to their affordability, customization, and positive impact on employee satisfaction and well-being.
Key Findings from the Survey
The Gallagher survey highlights several advantages of expanding voluntary benefits, including:
1. Employee Retention
Voluntary benefits play a key role in attracting and retaining top talent in competitive markets. Over half of employers (51%) agreed that voluntary benefits are vital to improving retention strategies.
2. Financial Well-being
Two-thirds of employers view voluntary benefits as essential for supporting employees’ financial wellness. Options such as permanent life insurance and identity theft protection help employees mitigate financial risks and stress, while also demonstrating the employer’s commitment to the long-term well-being of their workforce.
3. Integration with Core Benefits
Employers are increasingly exploring ways to integrate voluntary offerings (e.g., critical illness, hospital indemnity, disability insurance) with their core health benefits. While integration levels are currently low (5% to 14%), they are expected to grow in the coming years, streamlining claims and administrative processes.
Employer Takeaway: The Importance of Voluntary Benefits
As the 2026 open enrollment season approaches, voluntary benefits are likely to remain a strong focus for employers evaluating their benefits design. Reviewing and enhancing your voluntary benefits package could be a strategic move to stay competitive in talent retention and employee satisfaction.
“By embracing comprehensive well-being strategies, employers not only support their workforce’s diverse needs but also pave the way for organizational success.”
-John Tournet, U.S. CEO of Gallagher’s Benefits and HR Consulting Division
Partner With TPG Insurance for Your Employee Benefits Strategy
At TPG Insurance Services in Rancho Cucamonga, California, we specialize in helping businesses create benefits packages that attract and retain the best talent. Whether you’re looking to enhance your benefits or streamline your employee benefits strategy, our team is here to guide you every step of the way.
Call us today at 909.466.7876 to discover how we can help you create a more comprehensive Health & Employee Benefits package. Also, check out the Complete Guide to Insurance for Delivery Drivers in California.
