Despite the role executive benefits play in retaining workers, NFP’s data showed that only 29% of respondents said they fully understood their benefits.
“There’s a clear need for improved communication,” Greene said. “Employers should enhance their outreach and education to ensure executives fully grasp and appreciate the value of their benefits, particularly complex offerings.”
Companies are offering nonqualified deferred compensation plans, performance-based incentives, supplemental executive life insurance and first-class air travel as part of their executive benefits packages, the report found.
June research from WTW found that a large majority of U.S. employees — not just executives — are choosing to stay with their current employer and cited pay, health benefits and flexible work arrangements as some of the reasons why.
Read full article here