Workplace Benefits Report

Bank of America Merrill Lynch Retirement Services is excited to share our first Workplace Benefits Report, which examines the expanded role employers are playing in helping address the financial needs of arguably the most demographically diverse workforce in U.S. history.

Surveying C-level executives and human resources and benefit plan leaders revealed a number of important trends. These include the growing significance of financial benefits in recruiting and retaining talent, that employers feel an increased responsibility in helping employees meet their personal financial goals, and a heightened emphasis on advice, education and engagement.

Understanding the changing priorities of and dynamics for employers enables Bank of America Merrill Lynch Retirement Services to develop financial benefit plan solutions that empower plan sponsors to stay ahead in an increasingly complex business environment and help meet the evolving needs of their plan participants.

"Our Workplace Benefits Report finds employers are seeking to maximize the value of their financial benefit plans as part of their broader talent management strategies. To help them win the war for talent, we are working with employers to deliver creative solutions and access to the personalized advice their employees may need to help them achieve their financial goals. This includes new and expanded programs designed to help older employees live well longer."

- Andy Sieg, head of Retirement Services for Bank of America Merrill Lynch

When asked if companies feel an increased sense of responsibility towards helping employees meet their personal financial goals following the recent recession, employers said:

Bank of America Merrill Lynch Workplace Benefits Report 2011

 

Bank of America Merrill Lynch's Workplace Benefits Report is a study of employers' views on the role financial benefit plans play in their talent management strategies and in the overall financial well-being of employees. The study includes responses from 650 C-level executives, HR and benefit plan leaders and examines ways in which employers are helping to address the financial needs of perhaps the most demographically diverse workforce in history. Market Strategies International conducted the online survey between April 19 and April 23, 2011 on behalf of Bank of America Merrill Lynch's Retirement Services. Market Strategies International is not an affiliate of Bank of America Corporation.
The Workplace Benefits
Report examined:
  • The Role of Financial Benefits in
    Talent Management Strategy
  • Employee Engagement in Financial
    Benefit Plans
  • Future Trends in Financial
    Benefit Plan Enhancements
  • The Importance of Plan Personaliza-
    tion and Communication
Downloadable Documents
Fact Sheet  PDF
Press Release  PDF
Summary Report  PDF
Watch the Presentation 
94% of employers believe it is important to retain older employees for a longer period of time before they retire.
Bank of America Merrill Lynch Workplace
Benefits Report 2011
98% of employers feel that that attracting younger employees is important in order to broaden the talent and skills of their workforce.
Bank of America Merrill Lynch Workplace
Benefits Report 2011
See how Retirement & Benefit Plan Services can expand the possibilities of your employee benefit solutions.
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