The survey shows that HR personnel are acutely aware of increased financial concerns among plan members. Money speaks loudly in the current environment. The report notes that "80% of HR leaders feel that offering competitive financial benefits, such as 401(k) matching, is more important for attracting and retaining employees than it was a year ago. Some HR decision makers (36%) report that employees ask for increased financial benefits."

The top two recruiting and retention strategies adopted by this group in the past year were increased base salaries and greater flexibility at work. Both were cited by 72% of respondents as areas where they have enhanced their benefits to attract young talent. Nearly 6 in 10 also say they have improved their health care coverage.

Areas of critical importance to employees within the health coverage realm include strong parental leave benefits and policies designed to demonstrate support for women, the respondents say.

"Almost all (94%) say parental leave benefits are the most important to attract and retain employees. In the wake of the policies affecting women and LGBTQIA+ folks this year, 66% support coverage of hormone replacement therapy and 60% say funding and leave for abortion is important to their employees. Fifty-eight percent support travel for medical purposes if a procedure is not available in state," the report says. "Despite the support of a majority of HR decision makers for reproductive and family health benefits, only about a quarter are aware that certain expenses, such as egg storage fees and baby formula, are covered by either FSAs or HSAs."