During a time when the term “The Great Resignation” is being used across several industries, it’s more important than ever to value the employee benefits packages you’re offering to employees.
Whether you’re running a startup or a small business, you’re competing against larger companies to fill up your talent pool. Over the last few years, we’ve seen a significant shift in what employees value in a company and in the benefits that they’re being offered.
That being said, the overall theme we’re seeing is offering benefits plans that help employees achieve a better work-life balance.
Employee Benefits Trends
As we head into 2022, here are a few employee benefits trends to look out for:
Flexibility & Voluntary Benefits
Recently, Insider surveyed 1000 US employees about flexible work and 39% said they would quit their jobs if employers weren’t flexible about working from home.
It’s clear that flexible working environments are the way of the modern workplace. With many of the larger corporations offering these types of benefits, it becomes easier for employees to move to another job if the work schedule doesn’t work for them.
Every employee is different, so having these types of flexible and voluntary benefits allows your employees to work in a way that works best for them, increasing their productivity and solidifying their loyalty to the company.
Mental Health & Wellbeing Benefits
The pandemic has made it more evident than ever, employee mental health and wellbeing is important! Employee benefits related to mental health and wellness will expand beyond offering employee assistance programs
Depression and anxiety that go untreated or ignored end up resulting in burnout and can significantly impact productivity.
More companies are investing in wellness apps, resources, and programs that employees can participate in (providing them a platform to help them through their personal problems).
Financial Assistance & Assistance
Financial stress and planning for the future are something that employees are always thinking about. The stress caused by this can carry over to the workplace and impact their work.
Financial literacy has become a topic that is more openly talked about. Many people are also more conscious about their spending habits. Which have likely changed throughout the pandemic.
More employers are likely to focus on financial wellbeing as a part of their employee benefits plan. Companies that want to include this should look into what their employees value the most. For some, education on financial literacy is of value, which could mean providing access to resources (whether it be textbooks or online courses), financial planning, or increasing fund matching.
Working With Smythe for Employee Benefits Needs in Vancouver
Above all else, it’s important to understand your employee’s needs to successfully provide them with a benefits plan that will be of value to them. After all, they’re the ones benefiting from this.
At Smythe Employee Benefits, we’ll work with you and your employees to build an employee benefits package that meets their needs and provides you with a competitive edge when you’re hiring top industry talent.
Contact us today to get started with our services!