The Top Ten Benefits to Consider Post-Pandemic
Leslie Speas, MA, SPHR, SHRM-SCP, CPC
?? Strategic HR Consultant who helps leaders and HR attract, retain, and develop talented employees ??Fractional HR / Leadership & Team Development / Workplace Culture / Speaker / Author / Puts HumoR in HR
Have you wondered how the pandemic has changed the employee benefits landscape? What benefits you should consider in 2022 and beyond? There has undoubtedly been a shift in what people consider critical and valuable at work and at home. As we emerge from the pandemic, employee benefits are more important than ever before. Consider these statistics:
As we look at 2022 and beyond, here are the top ten benefits to consider in order to attract and retain employees. Please note that health insurance (including dental) is not included here as it is a foundational need.
1.?????Flexibility and remote work
?Due to the pandemic, the undeniable interconnectedness of work and life has become clear. Employees want the ability to have flexible work time. This might include flexible start and finish times, compressed work weeks, unlimited paid vacation time, leave for caregivers, and limited travel for meetings by utilizing technology.
?Many employees desire remote work opportunities at least some of the time. Thirty-five percent of workers said they would change jobs for one that offered 100% remote working. Thirty-seven percent said they would jump ship for an employer that offered part-time remote working opportunities. The bottom line is that, if it is feasible to offer flexibility and remote work, it will likely help with attracting, retaining, and engaging employees.
?2.?????Mental health benefits
?The pandemic and the state of the world have had a huge effect on mental health. The American Psychological Association says we are experiencing a mental health crisis in the United States. Employers play a critical role in helping employees stay balanced and well. A study by Harvard Business Review indicates that 41% of employers plan to extend their mental health benefits. The World Health Organization found that, for every dollar put into scaling up treatment for common mental health challenges, there is a return of four dollars in improved health and productivity. Therefore, a focus on mental health benefits can actually save money!
?Mental health benefits include possibilities like Teletherapy, Employee Assistance Programs, mental health days off, and workshops on mental health-related topics. In addition, It is a best practice to train leaders on how to show empathy and assist employees that are struggling.
?3.?????Virtual options
?Virtual tools such as telemedicine, benefits apps, and other digital tools are becoming very popular due to convenience. In addition, virtual health offerings like online fitness classes, online mindfulness exercises, and webinars that educate on healthy living would be possibilities to consider.
?4.?????Voluntary Insurance
?There are many different voluntary insurance options. Pet insurance is really popular currently because the adoption and fostering of pets soared during COVID-19. Other options include critical illness, cancer, identity theft, supplemental life, etc.
?5.?????Financial wellness
?A SHRM survey showed that 30% of employees say they have missed work to deal with a financial crisis. Further, 80% of employers say that financial stress significantly lowers their employees’ performance level. ?According to Bamboo HR, 73% of employers surveyed say they will provide financial wellness programs in 2022 and beyond. Financial wellness benefits can include:
?6.?????Physical health benefits
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?Post-pandemic, many employees are focused on trying to stay healthy. Employers can consider options to enhance physical health like:
?7.?????Caregiving benefits
?Many Americans are burning the candle on both ends, taking care of aging parents while also caring for their children. And some left the workforce due to issues with in-person daycare and schooling, so caregiving benefits might encourage them to come back to work. Here are some caregiving benefits to consider:
?8.?????Career development
?Career development opportunities are critical to attracting and retaining employees. This involves providing ways that employees can further their knowledge and skills to reach career milestones and advance. Some career development ideas are listed below:
?9.?????Employee engagement
?Many teams are distributed and the labor market is difficult. Facilitating employee engagement is essential to attracting and retaining employees – and having a high-performing organization.
Ideas for enhancing employee engagement include the following:
10.??Fertility benefits
One in eight couples experiences infertility issues. In addition, offering benefits in this area can support DEI efforts as LBGTQ+ and single aspiring parents often utilize fertility benefits.
Are you wondering how to consider all of this with a limited benefits budget? Here are some steps you can take to ensure you are getting the most for your benefits dollar.
? Need assistance to create a Benefits package or implement talent solutions to help retain and engage employees? Contact Leslie Speas at [email protected] to set up a discussion.