Lifestyle Spending Account (LSA) Benchmark and Trends Report
Espresa is redefining traditional workplace benefits and studying trends that drive growth across personal benefits. Over the last year, Lifestyle Spending Accounts
(LSA) have increasingly helped companies expand their benefits offerings. Espresa’s LSA Plus™ is the first personal benefits platform to combine LSAs, Well-Being,
Recognition, and Employee Resource Groups (Communities) into a single, unified experience for global enterprises.
This report details the data behind Lifestyle Spending Accounts, illustrating how they enable personalized benefits on a global scale, how forward-thinking companies utilize their reimbursements, and more.
A Look Inside: Top Trends Driving Lifestyle Benefits
- Boosting Employee Engagement: Lifestyle Spending Accounts can drive employee engagement of 85% or more, providing motivation for participation and satisfaction.
- Shifting Employer Priorities: While attracting and retaining talent remains critical, companies are increasingly focusing on streamlining benefits, consolidating fragmented solutions, and unifying stipends, incentives, and allowances for simpler management.
- Optimizing Benefits Budgets: Companies can support employees on a global scale without increasing costs, ensuring that every dollar spent is maximized
for impact.
- Enhanced Flexibility and Personalization: Today’s reimbursement perks offer a broad range of choices, allowing companies to develop unique benefit plans that cater to the diverse needs of their workforce, regardless of age or gender. This tailored approach can lead to satisfaction rates of 95% or more.
- High Engagement on Modest Budgets: Even with limited budgets, Lifestyle Spending Accounts can drive substantial engagement. Many companies find that annual budgets as low as $500 can achieve up to 80% participation, proving that impactful benefits don’t require a significant financial commitment.
