(Finance) – During the first round table of the Single Welfare Conference 2024organized by AmedeA Welfare Operation Center in collaboration with AIWA – Italian Association of Corporate Welfare and Second Welfare Paths, was presented on first AmedeA Observatory. This study provides a detailed analysis of the current corporate welfare scenario and its future prospects, carried out in collaboration with According to Welfare, the research laboratory of the University of Milan that analyzes the evolution of welfare in Italy.
The observatory involved over 230 thousand workers from 1000 companiesof various types and sizes. The companies were divided as follows: 24.2% with fewer than 10 employees, 31.61% with 10-49 employees, 30.61% with 50-249 employees, and 13.57% with more of 250 employees. AmedeA confirms itself as the largest Welfare Operation Center in Italy, capable of providing operational services for welfare companies, such as the issuing and management of welfare service reimbursements, back office activities and support for structures and beneficiaries.
From the AmedeA Observatory it clearly emerges that welfare plans are still mainly adopted by medium and large companiesalthough micro and small companies are gradually introducing such solutions. The reasons behind this growing adoption are multiple: in addition to the need to attract and retain talent, corporate welfare contributes positively to employee engagement and improved turnover (data from the Corporate Welfare Lab of SDA Bocconi). Furthermore, welfare represents a form of tax-advantaged remunerationa particularly relevant aspect in a context where wages in Italy grew by only 1% from 1991 to 2023 (Inapp report 2023). A further factor is the introduction of European ESG (Environmental, Social, Governance) regulations, which push companies, large and small, to adopt sustainability policies.
One of the most relevant aspects concerns the success of fringe benefits, which represent a form of additional non-taxable compensation, provided in the form of goods and services. These are greatly appreciated by workers, as they allow them to cover concrete expenses, such as meal vouchers or basic necessities. The report shows that over 54% of the budget allocated to corporate welfare is immediately converted into fringe benefit vouchers. These vouchers, more flexible than traditional reimbursements or health funds, offer immediate liquidity and can be used on online platforms, for meal vouchers or at large-scale retail chains. This increase in the use of meal vouchers was favored by the changes introduced in the 2019 budget law, which increased the deductibility and maximum limit of vouchers.
With regard to reimbursable services, 2024 data shows a notable increase in requests for reimbursements for bills and rent, which went from 9.85% in 2023 to 24.71%. This increase is linked to energy price increases, which pushed many families to request greater support in these areas, while expenses for education and school decreased from 73.31% in 2023 to 57.05% in 2024. Among the most expensive services are babysittingwith a average cost above 600 eurosand home care, with an average cost of around 479 euros. Even if bills have suffered a slight drop in average costs (from 345 euros in 2023 to 266 euros in 2024), they remain a significant expense item.
The Observatory also shows a greater knowledge of corporate welfare among workers. The percentage of cases presented with incorrect or incomplete documentation is decreased from 0.85% in 2024, compared to 4.16% in 2023, demonstrating greater awareness and familiarity with welfare processes.
In the last part of the investigation, conducted on 10 important consultancy firms in the corporate welfare sector, they were identified three main challenges for the future. First of all, the need to develop solutions that better respond to the needs of reconciling work and personal life. Secondly, orientation towards sustainability, in line with ESG criteria, to make corporate welfare strategically relevant and transparent. Finally, we highlight the importance of understanding the real needs of employees, to develop customized solutions also through the use of artificial intelligence.
Among the services most requested by companies are psychological support and the physical and mental well-being of workers, aspects that have become particularly important after the pandemic.
Looking to the future, corporate welfare in Italy will also be influenced by new European regulations, which require companies to obtain Gender Equality certification. On the legislative front, further developments are expected, as he explains Emmanuele Massagli of AIWA: “We proposed two amendments to the Labor Bill Bis. The first concerns the possibility of transferring the welfare credit to the National Health Service, the Civil Service or colleagues in difficulty. The second provides additional incentives for those returning from maternity or paternity leave.”