Before COVID-19 hit, many companies did not see the significance of providing quality benefits. However, now more than ever, small and large-scale companies better understand the importance of employee benefits to ensure employee’s health and well-being. With that said, there has been a significant increase in employee benefits overall. Let’s take a look at the several changes to employee benefits:
An Increase in Quality Health Benefits
If an employee gets sick, how do employers expect them to care for themselves, especially during times of crisis? Without quality health benefits, they cannot get the care needed to feel well again. Not only this, but if employees are sick and are forced back into the office, they take the risk of exposing themselves to their co-workers and bosses. In a study done by Harvard Business Review, 57% of senior leaders said their organizations are assigning higher priority to care benefits in an effort to better support their employees both emotionally and physically. Employee benefits are a necessity for employees to care for themselves and work to their overall potential.
An Emphasis on Employees Well-Being
Of course, an employee’s physical well-being is essential, but the pandemic has also shown that employers are more sensitive to employee’s mental well-being. Mental health has not always been a topic of conversation in the workplace, but a recent study by SHRM showed that 42% of employers have improved support for employee health and well-being – with mental health at the top of the list. Companies can support employee’s mental health by providing good health benefits for employees to afford things like counseling.
A Greater Work/Life Balance
With mental health at the top of the list, employers also understand the severity of a work/life balance. In a study by Harvard Business Review, 63% of employers said they plan to increase their company’s childcare benefits. Also, 66% of employers said they plan to offer greater work flexibility. Providing a work/life balance helps busy families juggle the overwhelming life as a parent and worker.
In order for companies to retain employees and have long-term success, they must adapt to these changes and make employee benefits a priority. Contact Lewis & Palmer benefits to ensure your employee’s health and well-being today.