Despite the role executive benefits play in retaining workers, NFP’s data showed that only 29% of respondents said they fully understood their benefits.

“There’s a clear need for improved communication,” Greene said. “Employers should enhance their outreach and education to ensure executives fully grasp and appreciate the value of their benefits, particularly complex offerings.”

Companies are offering nonqualified deferred compensation plans, performance-based incentives, supplemental executive life insurance and first-class air travel as part of their executive benefits packages, the report found. READ MORE