It’s a different work world out there, and benefits have changed for sure. For benefits brokers, it’s more important than ever to know the current trends, as employers and employees are focusing more on improving benefit packages every day. Employees are looking for benefit packages that can make a meaningful difference in their lives. For example, few had heard of on-demand pay five years ago, but now it is a trend.
Here are some benefit trends for 2022.
1 – Paid time off
Whether it’s because of the pandemic or employees are stressed out about their job, more time off has been requested to refresh and recharge. Two weeks’ vacation time is out. Unlimited paid time off, Paid PTO (yes, that’s a thing) and PTO “banks” are in.
PTO doesn’t have to be for vacations only. Employees can pick their holidays at some companies, take time off to vote, and do many different activities while exercising the PTO they’ve earned.
2 – Child and adult care
Helping employees provide care for adults is also incredibly important to employees now. Paid parental leave for births, adoptions, or foster care is one type of care that can make a significant difference in employees’ lives. Childcare, or creating flexible work schedules for parents, and care for elderly adults like parents are also high on the priority list for employees.
3 – Mental health
Anxiety, depression, burnout, and substance abuse were all problems during the pandemic. Add to that, parents trying to balance work and childcare, or people who live alone feeling lonely and disconnected during the lockdowns. While it affected people, it also helped businesses realize more mental health options are needed. Whether it’s EAP, telehealth, virtual counseling with a therapist, or adding wellness programs, more companies are focusing on mental health for their employees.
4 – Have diverse offers available
Pet insurance, commuter benefits, a company meal plan, tuition plans, healthcare coverage, and more are the types of benefits employees want in 2022 and beyond. Those types of benefits directly impact an employee’s finances, so they will help attract and retain the best talent because it shows a company is thinking about how it can improve an employee’s life.
Edenred Benefits can help brokers become more competitive in the marketplace by offering wellness plans, commuter benefits, on-demand payment solutions, and meal benefits.
Are you a broker interested in partnering with us so you can make a difference to your clients? Book a meeting with us to learn more.