Robotics and artificial intelligence are revolutionizing the business world, but human workers are still critically needed. In today’s dynamic, post-pandemic environment, many employers are feeling the pain of a prolonged labor crunch. They are engaging in an intense competition for talent.

Workplace Transformations: Employer Business Practices and Benefit Offerings, a collaboration between nonprofit Transamerica Institute and Transamerica Center for Retirement Studies (TCRS), examines employers’ overarching business concerns, how they are prioritizing workforce management and human talent, and how they are supporting their employees through alternative work arrangements, age-friendly business practices, and health, welfare, and retirement benefits. 

The report identifies opportunities for adding and enhancing retirement benefits created by the SECURE 2.0 Act of 2022. It also offers recommendations for employers and policymakers.

Based on a survey of more than 1,800 for-profit U.S. companies in late 2023, the report provides comparisons among small, medium, and large companies (< 100 employees, 100 to 499 employees, 500+ employees, respectively). It offers contextual comparisons with a survey of more than 5,700 workers of for-profit companies. The report marks the lead release from the 24th Annual Transamerica Retirement Survey.