2.5 minute read
Benefits have always been a crucial piece for attracting and retaining top performers. And adding voluntary benefits can be a great way for employers to round out their benefit package. They can help provide value to employees without raising an employer’s cost, making them powerful tools. These perks allow for more personalization that help satisfy the unique needs of a multigenerational workforce.
Here are three voluntary trends to monitor in 2022.
The pandemic has reinforced the fact that money is a top stressor for employees. Finance-related voluntary benefits can provide employees with financial guidance and resources. Some popular financial wellness benefits include student loan repayment, financial planning or coaching, retirement savings plans, and emergency savings funds.
When employees have lower financial stress, employers may see greater employee productivity, morale, and lower absenteeism.
More employers are offering a wide range of voluntary benefit options to meet the needs of their current and prospective employees. Dental and vision care are standard benefits. But there has been an increase in nontraditional offerings like critical illness, identity theft, hospital indemnity, and pet insurance.
Offering a variety of voluntary benefits, can help employees pick and choose what matters to them and helps them fill in their coverage gaps.
The pandemic has increased employee stress, depression, and anxiety. As a result, many employees need more mental health support than ever before. Some employees may also have put off preventative care or other health services during the pandemic.
One way to combat those issues is to make remote health services more affordable and accessible. Telemedicine or remote health services have proved to be a valuable and cost-effective way to receive medical care from the comfort of home. Many employers will want to consider adopting or expanding their current offerings.
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This blog is intended to be a compilation of information and resources pulled from federal, state, and local agencies. This is not intended to be legal advice. For up to the minute information and guidance on COVID-19, please follow the guidelines of the Centers for Disease Control and Prevention (CDC) and your local health organizations.