From employees wanting preventative benefits to giving employees the benefits they need and deserve, here are the 6 answers to the question, “As we prepare for the new year, what is one takeaway you have from the employee benefits trends in 2022?”
- Employees Want Preventative Benefits
- Rise in Favor of More Comprehensive Benefits
- Health Plans That are Affordable and Protect Diversity
- Employees Want Work Flexibility and Balance
- Employers Are Investing More in Overall Well-being
- Give Employees the Benefits They Need and Deserve
Employees Want Preventative Benefits
2022 has taught us that employees value comprehensive coverage. With the ebbs and flows of the economy, workers are looking for as much security in their benefits as they can reasonably find, and for things that may not have seemed as mainstream in previous years.
Coverage for both physical and mental health has become more than just paying out for insurance claims. Workers prefer preventative measures that keep them from needing to rely on worst-case-scenario protections.
This is both healthier for workers and for businesses in the long run, though it may prove to be more costly when taken at face value. Benefits that allow workers to maintain their well-being are likely to continue to rise in popularity in 2023 and beyond.
Boye Fajinmi, Co-Founder & President, TheFutureParty
Rise in Favor of More Comprehensive Benefits
The more comprehensive the benefits a company provides the more appeal it has. In some cases, strong benefits are easily outweighing simply having a large paycheck.
Since the Pandemic, we’ve been seeing a rise in favor of more comprehensive benefits in coverage provided by employers becoming a focus of the conversation. As we go into 2023 I think the push for a holistic approach to company benefits will continue to grow.
We may reach a point where benefits become the consistent and deciding factor for attracting and retaining the best talent in every respective industry.
Max Schwartzapfel, CMO, Schwartzapfel Lawyers
Health Plans That are Affordable and Protect Diversity
One major takeaway from employee benefits trends in 2022 is the importance of offering comprehensive and affordable health insurance coverage while protecting diversity.
Specifically, plans should include domestic partners and not be limited to just spouses and children.
With rising costs of healthcare, employers will need to offer plans that cover a wide range of services and expenses to attract and maintain top talent. Additionally, offering other benefits such as retirement savings plans and paid time off will also be important to stay competitive.
Tawanda Johnson, HR & DEI Consultant, Sporting Smiles
Employees Want Work Flexibility and Balance
2022 has seen the professional world enter a post-pandemic environment, where hybrid and remote working have become more prevalent. In fact, Perkbox’s 2021 survey of employees ranked flexible working hours and remote working as 2nd and 3rd on their list of sought-after work benefits, only behind employee discounts.
With the 4-day work-week now also prominent after its adoption by several UK-based companies, the trend of flexible working and a work-life balance is now quickly growing in the latter end of this year. With 72% of UK workers in favor of a 4-day work week, it is definitely a benefit to consider from 2022 to take forward into the future.
Eleanor Holmes, Marketing Executive, myhrtoolkit
Employers Are Investing More in Overall Well-being
As we prepare for the new year, one takeaway from the employee benefits trends in 2022 is that employers are investing more in individuals’ well-being to drive better results and reduce turnover.
This includes offering flexible work arrangements and remote work options, providing mental health support and burnout prevention resources, expanding access to learning and development opportunities, extending health benefits beyond just medical coverage, and creating family-friendly benefits such as paid parental leave.
The goal of these initiatives is to ensure that workers have access to the support they need while also enabling them to thrive in their professional lives.
Grace He, People and Culture Director, teambuilding.com
Give Employees the Benefits They Need and Deserve
In the past, employee benefits were seen to be an added expense for the company.
However, this year, with the Great Resignation, employees sought companies that will give them the benefits that will help them not only in their careers but also in their personal lives. Hence, to attract top talents and retain talented employees, employee benefits should be prioritized.
This includes competitive salaries, better work-life balance, and mental health support. Once these are given to employees, they can be very productive and this will translate positively for the company. This is my greatest takeaway for employee benefit trends in 2022.
Jeff Moore, CEO, Everyday Power
