2023 Employee Benefits Market Outlook

Employers continue to face familiar and unfamiliar workplace challenges many of which will likely continue through 2023 and beyond. Employers will need to seek ways to build resilient organizations, accommodate employees’ desires and protect workers’ health and mental well-being while addressing rising health care costs and continued labor challenges. 

This 2023 Employee Benefits Market Outlook examines critical employee benefits topics and trends, delivering insights into the market and forecasting where the industry may be headed in 2023 and beyond. It’s critical to understand the important themes from 2022 that laid the groundwork for this year. To that end, this Market Outlook provides a snapshot of key benefits trends from 2022 and discusses key topics and trends for 2023, including:

• Implementing effective mitigation strategies to combat rising health care costs;
• Pay Transparency;
• Bracing for a recession;
• Prioritizing holistic employee well-being;
• New compliance challenges around the overtime rule;
• The battle over remote and hybrid work;
• Bolstering voluntary benefits offerings to meet employee needs and more.

2023 will be a year of opportunity for employers who are prepared and respond quickly and effectively. Proactive organizations will be able to position themselves for future growth and stability. The best strategies will vary by workplace but awareness of the trends and themes discussed herein can guide employers as they plan for 2023.

Contact a SSG Benefits Advisor for more information or to request additional resources on other important workplace topics.