Two years into the pandemic, companies and their benefits advisors have gained insights into employees’ preferences for benefits. To address the need for added coverage, holistic wellness, and digital solutions, a shift in benefits strategies is essential.
- Expanded Coverage In 2021, nearly half of employees obtained new benefits due to the pandemic. About 40% believe their current benefits are insufficient for their well-being. Employers are responding by incorporating desired benefits such as mental health support, telehealth, leave management, and life insurance. This emphasizes the investment employees are making in their health. However, smaller companies face challenges due to cost and plan selection.
- Holistic Health Focus Over 50% of employees express concerns about their overall well-being. Only around 40% felt positive about their health last year. Holistic care goes beyond occasional checkups, encompassing benefits like supplementary health plans, remote health services, and paid leave. It revolves around continuous care that addresses the root causes.
- Surge in Digital Demand Around 75% of workers and executives anticipate hybrid work becoming the norm. To accommodate remote work arrangements, employers should prioritize digital benefits such as remote patient monitoring. This technology supplies doctors with data for personalized care. Digital solutions also involve monitoring user behaviors and rewarding healthy habits.
Navigating the Shift As companies adjust their benefits models to cater to these trends, a person-centric approach becomes crucial. Hybrid work is here to stay, emphasizing the importance of delivering benefits tailored to individual needs rather than office norms. This approach not only boosts employee well-being but also enhances overall productivity.
Take Action Incorporating these trends into your company’s benefits strategy can lead to higher employee satisfaction and better performance. Consider partnering with benefits advisors who understand these evolving needs and can help tailor your offerings for maximum impact. As the landscape continues to change, proactive adaptation ensures both employee and company success.
