COVID-19 has wreaked havoc on practically every aspect of our life, including our workplace. The changes have ranged from how we connect with people to what constitutes a “workplace”. It highlighted the importance of employee benefit programs to the sense of security and general wellbeing of employees.
Business managers responded to the crisis by offering flexible work schedules, employee, time off, telemedicine, aid programs, and access to retirement funds. However, there is still some difficulty prioritising benefits that they offer employees.
To answer this question, 750 UK employees were surveyed to determine the effects COVID-19 has had on employees’ attitudes and preferences for workplace benefits.
COVID’s Influence on Workplace Benefits Attitudes
In the United Kingdom, employee perceptions of workplace benefits shifted remarkably in 2021. Enhanced leave, which was considered the eighth most important benefit in 2018, has jumped to first. Social media was ranked second in 2018 but currently ranks ninth.
The pandemic necessitated the switch to remote work for several employees. Due to this drastic change, employees now seek flexible work schedules which allow them to take on additional responsibilities. Benefits such as flexible working hours have been recognised as increasingly important. Meanwhile, in 2018 when physical presence was a greater consideration, workers gave social events and travel packages preference.
With remote work, employees must also deal with the stress of juggling their time and responsibilities. This puts employees in danger of burning out and subsequently quitting the workforce. Burnout affects over half of employees, and those who are burnt out are more likely to leave their place of employment than those who are not.
Public health has also had a negative influence on many people’s mental health. Employees between the ages of 18 and 30 have been reported to have the most difficulty. As a result, health benefits are an important part of every employee benefits package.
The survey results suggest that providing health and wellness benefits is an effective way to show employees that they are a priority. Companies that have implemented successful health-benefit programs have experienced a decrease in absenteeism and boosts in productivity and morale.
Food and drink benefits were a priority in 2018, but they are number two in 2021. Although many of us are not physically present at work, companies around the country are finding innovative methods to demonstrate their appreciation for their employees.
Benefits Prioritisation by Demographics
Men and those over the age of 54 continue to feel that healthcare is an essential advantage their jobs can give. Older generations frequently require health services for various reasons, and being able to access private care can expedite this process and even improve the quality of care.
According to women and the younger generation (18-24), enhanced leave is the most important benefit. For women, this preference might be because, in the average family, women are the primary caretakers for their children. This means moms need extra time off to care for their children when schools are closed.
Employers Role in Optimizing Employee Benefits
Employers must transform conventional packages into versions that are relevant to the current working situations to meet employee demands. They can do this in the following ways:
Provide Benefits that Employees Need
We can no longer rely on special gym memberships or on-site fitness exams for a rising number of enterprises with scattered workforces. Value-added fitness services are in high demand among employees. Value-added fitness services are also in high demand among employees. Because of the consequences of COVID-19, certain systems will need to be more adaptive than ever before.
Virtual therapy might be a crucial part of a redesigned benefits package. Businesses should provide an employee benefits experience that expands the availability and effectiveness of telemedicine and teletherapy. These healthcare improvements improve employee satisfaction, performance and minimise healthcare expenditures.
Update Communications and Collaboration Methods
As more people work remotely, the manner we manage insurance should change. The ideal method is to provide a comprehensive, digital benefits experience that is simple to use. For one thing, face-to-face benefits and open-enrollment education seminars may soon become obsolete, and human resources departments must adapt.
Consider if workers might utilise this service to obtain answers to their inquiries concerning benefits from anywhere in the globe, regardless of which option you choose. If employees don’t have access to an office, HR leaders may be besieged with benefit inquiries on a regular basis. HR teams must acquire the big-picture thinking we require right now in order to provide a simple, helpful benefits experience.
Medical Strategy is Insufficient
Employees are entitled to a complete insurance package that goes beyond high-deductible health plans. They require robust plans that promote their mental health, social wellness, and a sustainable work-life balance.
Working from home raises feelings of isolation and makes it more difficult to strike a work-life balance. Employers who intend on keeping up with the trends will utilise this as an incentive to remedy a potential cost-driver by providing constructive support to employees.
Read more: Work From Home Reinventing 9 to 5 Jobs
