Benefits have gotten a whole lot more personal in recent years. Employees are looking beyond the standard health care coverage when searching for a new job, and for good reason. If the last five years have taught us one thing, it is that workers value their personal welfare inside and out of their workplace and they expect employers to respect this and offer support.
And employers having been taking note of this change. They’re responding by investigating what their employees need in order to thrive both at work and at home, all the while adjusting their own strategies and goals in order to meet those needs. In a past blog, we discussed the benefits employers are required (in CA) to offer employees. In this one we’re identifying five additional benefits to the norm that employers should offer in order to attract (and maintain) skilled talent.
Benefit trends that speak to employee welfare
- Mental health coverage. This trend has really gained momentum in recent years, which is not at all surprising. Every worker has experienced the stress of adjusting to changes in how we work and live. Offering options (free from stigma) for employees to attend to their mental health is vital to their work/life balance, and therefore their productivity. Make sure management is trained in guiding employees to the correct mental health assistance they need.
- Expanded care-giving coverage. Expanded coverage in programs focused on chronic illness care, such as diabetes, or family services like prenatal care, are getting a lot of traction lately. To help administer these services, there are app-based tools available which allow employees to easily take control of their own care needs.
- Flexible work schedule. It’s relatively easy for employers to offer and it makes a real difference in workplace culture. Much more so than free lunch. Allow employees to balance their work and personal responsibilities during the day sets the tone that the company is invested in the wellbeing of the team.
- Professional development opportunities. One common complaint we hear time and again is that employees are, quite frankly, bored. While they may not be considering a big career change, it’s likely they are seeking to grow on an existing skill-set. Take the pulse of what employees hope to achieve in the trajectory of their careers and identify opportunities for them to learn the skills necessary to achieve those goals.
- Convertible paid time off. Here is a fascinating trend, in our opinion. Even if taking personal time is encouraged, there’s always going to be a few employees who stockpile their PTO. Convertible paid time off grants employees the ability to direct their PTO towards other financial goals, such as retirement savings or paying off educational debts. We think this benefit trend is a great way to empower employees financially. And there’s no downside to that!
A quick word on ensuring benefits are utilized
Unfortunately, employees often don’t dig deep enough into their healthcare and benefits plan to thoroughly understand the services available to them. It’s up to employers to see to this. During the open enrollment process, make sure employees are making the right choice for their health rather than defaulting to a previous plan. Simply listing what is covered in a plan won’t be enough for an informed choice. Take the time to explain the options fully.
The time of year to adjustment your company’s benefit package has arrived, and Eos HR can collaborate with you on the best comprehensive plan for your team. We offer small businesses an HR team that helps them identify the needs of a modern workplace. Schedule a free consultation today to learn more.