Employee Benefit Trends
Understanding emerging patterns in employee benefit trends is crucial in today’s competitive job market if you want to attract and retain top talent. Knowing what benefits resonate most with different employees, as well as staying informed on current trends in employee benefits, can help you to design benefit packages that not only appeal to prospective employees but also enhance the well-being and productivity of your current workforce. This proactive approach helps set the grounds for a workplace where employees feel valued and motivated, which ultimately drives long-term success. Keep reading to explore four of the latest trends in employee benefits.
Employee Benefit Trends: Flexible Work Options
An important trend in employee benefits that has transitioned from a perk into a necessity is the availability of flexible work options. A Forbes article outlining workplace benefit trends shows that 79% of employees prioritize flexible work options, across generational lines. Recognizing that flexible work options are crucial across all generations—Gen Z, Millennials, Gen X, and Baby Boomers—underscores the need for businesses to adapt to these changing demands. Implementing these flexible employee benefits enables companies to remain competitive among top talent.
Mental Health Benefits
Adding mental health benefits to traditional employee benefits can truly enhance your organization’s package. This can include access to counseling services, mental health hotlines, designated mental health days separate to traditional sick days, or wellness programs to show your businesses commitment to the mental well-being of their employees. Data from the Forbes employee benefits article shows that across all generations, 62% of employees identify access to these resources as a key to their overall job satisfaction. Today’s employees are more likely to prioritize mental health benefits when choosing an employer, so it is important that companies show a strong dedication to supporting their employees’ mental health.
Family Friendly Benefits
Family friendly benefits are another vital employee benefits trend needed to stand out among employees. Extending family friendly benefits beyond what the law requires can show employees you care and can also lead to long term success. Creating understanding parental leave policies fosters an inclusive work environment and can also allow employees time to adjust to new family dynamics, better preparing them for success upon returning to work. Including policies like flexible work arrangements into family friendly employee benefits can also help enhance work-life balance for employees with diverse family needs.
Employee Benefit Trends: Financial Security Benefits
Financial stress is a significant concern among workers today, so employee benefits that address financial security are becoming increasingly important. Some employee benefits that could be added to the financial security package would be a financial wellness program with financial planning resources, retirement plans with company matches, or student loans and debt repayment benefits. Prioritizing financial wellness in employee benefits packages shows employees that there is a commitment to their financial security. Workshops can also help your employees create sound financial decisions, reduce financial stress and help improve productivity. These benefits directly contribute to a more engaged and stable workforce.
Staying ahead of employee benefit trends is essential for ensuring your company remains competitive. At Athena, we continue to monitor shifting benefit needs in the overall workforce and offer competitive benefits to our entire team – corporate and employees on staffing contracts. This allows us to attract and retain top performing team members, leading to greater organizational success. Visit our Contact Us page to inquire regarding how we can support your staffing needs.
