Research by Lockton reveals that 69% of small and medium-sized enterprises (SMEs) are leveraging AI tools, like ChatGPT, to enhance employee benefits strategies. The report, based on a survey of 1,000 UK SME leaders, indicates that 77% feel their benefits offerings fall short of adequately supporting employees. Notably, 40% of decision-makers recognize a pressing need for significant improvement in their benefits packages, with 9% having never utilized AI. Despite having access to staff feedback, 75% report basing benefits decisions on personal experiences rather than data. A lack of confidence in long-term strategies is evident, as only 46% feel secure in their decisions. Key factors for improvement include staff feedback (61%) and advice from trusted advisers (39%). Stewart Waddy from Lockton emphasizes that while AI offers efficiency, it cannot replace the tailored guidance necessary to create effective employee benefits, urging SMEs to focus on strategy and alignment for genuine impact.
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