As we plan for another year that is affected to some degree by the COVID-19 pandemic, some companies are choosing to remain remote. If your company is still using a hybrid or fully remote model, it’s important to consider and possibly reevaluate your company’s benefits. Below, the agents at Unity Insurance discuss the top four benefits trends companies are considering in 2022.
Offer Personalized Benefits Based on Employee’s Preferences
As an employer, you should be making benefits decisions based on employee preferences. Rather than offering the same benefits to every employee, provide them with options that make sense for them. If your company has a large age range, consider offering older employees pre-retirement programs or post-retirement part-time options to provide an additional source of income without a full-time workload. For younger employees, offer benefits such as student loan repayment, career development opportunities and health and well-being support. Overall, your employees are the best place to get feedback on what benefits you should offer. They will have direct input on what makes the most sense for them and your business. Allow your employees to select the benefits package that is most appropriate for them.
Offer Mental Health Benefits
According to the Society for Human Resource Management, 78 percent of people in the workforce said their mental health has been affected by the pandemic. To combat this, employers should look to offer flexibility for their employees whenever feasible to prevent a low retention rate. Consider providing a health savings account for your employees so they can avoid any expensive out-of-pocket costs that may come with mental health services.
Consider Financial Wellness Benefits
According to a survey conducted by PwC, 63 percent of employees stated their financial stress has increased since the beginning of the pandemic. Providing employees with financial wellness benefits can help employees with budgeting and reduce the financial stress associated with work. Common financial wellness benefits include retirement savings plans, emergency savings funds, safety net insurance and financial coaching.
Allow Flexibility and the Option to Work Remote
According to Forbes, 97 percent of employees don’t want to return to the office full-time even if their workplaces are safely able to. Allowing employees flexibility in their schedules will show them that you not only care about their preferences, but their well-being. Providing flexibility in the hybrid work model will also help lower employee commutes and mitigate financial disruptions from transportation expenses.
Consider Unity Insurance for Your Employee Benefits
Finding the proper benefit plan to satisfy all of your employees’ needs can be extremely difficult. Unity Insurance’s educated and experienced benefits professionals can assist you in creating the ideal benefits package based on your employees’ preferences. To discover more about employee benefits, contact Unity Insurance today.