Whether 2020 is a year you’d rather forget or not, there’s no denying that it has been pivotal to revolutionising the workplace. But we are all acutely aware of what happened and how it impacted our businesses and sense of security. What many of us working in HR want to know though, is has COVID-19 and the office culture change forced from it, affected employee’s perceptions of benefits?
As you know, employee benefits play a part in engagement and retention, as well as attracting new talent. So, it’s important that we maintain a fresh approach and learn from others to make our packages as appealing as possible. So, let’s take a dive into what the industry research tells us!
A global report into the perception of employee benefits since the beginning of the pandemic found
Maxis Global Benefits Network asked 1,000 employees across 10 key markets worldwide, and found the following:
- 46% said that COVID-19 has made them reconsider the value of the benefits their employer offers, and was also a big factor for retention
- 33% wanted their employer to shift the focus from lifestyle benefits to healthcare
- 21% wanted better access to wellness packages
- 15% said they expected an increase in benefits offered by their employer
- 10% felt the pandemic exposed a lack of employee benefits within their organisation
1. Healthcare trumps lifestyle benefits
Private healthcare. Dental plans. Medical cashback. Health insurance. These are relatively simple ways to help show that you, as an organisation, care for your employees’ health. And looking at the stats from Maxis above, it is in demand now more than ever.
2. Improved access to employee wellbeing amenities
One thing’s for certain, we have all opened up a lot more about mental health, especially in the workplace. Slowly but surely, the stigma is being erased, and employers have been key factors in helping. From offering employee assistance programmes (EAP) to mental health days, there’s a positive shift in attitudes that is starting at work.
3. An emphasis is needed on help with childcare provisions
Writing for the Harvard Business Review, Tim Allen, CEO of care.com said:
“One of the most dire consequences we face is the alarming amount of working mothers who face an untenable choice: their children or their paycheck. And as any parent will tell you, that’s not really a choice.”
Moreover, in the joint report, The Future of Benefits 2021, Care.com and LifeCare had some worrying predictions:
“This is a critical moment. Companies risk losing women in leadership—and future women leaders—and unwinding years of painstaking progress toward gender diversity.”
Women in the Workforce, 2020, McKinsey/Lean In
PerkPal: we’re more than lifestyle perks
We all love to save money and make our money go further, but as the research above shows, the pandemic has put the spotlight on what our employees want in terms of healthcare and wellness.
While these perks are a great benefit, the peace of mind and security we can provide through benefits such as financial advice, debt management, mindfulness courses and EAP, can be gamechangers. At PerkPal we can these our “freebies” because we believe there are so important that everyone should have access to them.
Book a demo today
If you’re thinking about changing up your offering, why not book a demo of our digital benefits and rewards platform. We can talk you through how we can make life easier with our communications and survey tools, and of course our reports, so you know exactly what works for your teams.