If 2020 was the year of crisis response, 2021 was the year of recalibration. Employers figured out hybrid work. The labor market tightened. And benefits became a competitive weapon in the fight for talent.
Bnchmrk was there to help navigate it all.
What We Shipped
Small group benchmarking — Small employers have always been underserved by benchmarking tools. This year we launched flexible age-banded rate modeling, making it possible to benchmark small groups with the same rigor as large employers.
Enhanced contribution analytics — Contribution strategy became a hot topic as employers competed for talent. We added deeper contribution benchmarking to help you show clients exactly where they stand.
Performance upgrades — Faster report generation. Smoother filtering. A cleaner interface. Dozens of improvements that make the platform easier to use.
By the Numbers
- Dataset grew to over 40,000 verified plans
- Small group benchmarking launched
- User engagement up 45% year-over-year
- Average report generation time cut in half
What We Saw in the Data
The Great Resignation was real. Employees had leverage, and they used it. Employers responded by enhancing benefits across the board. We saw average employer contributions tick up for the first time in years.
Mental health continued its rise. What started as a pandemic response became permanent. Mental health benefits—EAPs, therapy coverage, mental health days—became standard expectations.
Flexibility became permanent. Remote work benefits. Home office stipends. Flexible PTO. The temporary accommodations of 2020 became the new normal.
The Talent Competition
The story of 2021 was talent. Employers couldn't hire fast enough. Employees had choices. And benefits became a key differentiator.
We saw consultants using Bnchmrk to help clients answer a critical question: "Are our benefits good enough to win the talent we need?" Sometimes the answer was yes. Sometimes it wasn't. But at least they knew where they stood.
Looking Ahead to 2022
The labor market shows no signs of cooling. Benefits will continue to be a battleground. We're investing in tools that help you quantify competitiveness and make the case for strategic benefits investments.
Thank you for another year of partnership.
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Get a sample benchmark report and see how leading consultants and HR teams use Bnchmrk to make better benefits decisions.
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