The business world has experienced a lot of shifts in recent years, as many different areas of society have had to grapple with new issues posed by the pandemic. One significant change is in how employees have altered their approach to their careers, as the Great Resignation has upended the labour market, forcing employers to change how they approach employees.
There are a few different issues that employees have come to value more and that employers must look to provide for. For example, healthcare, working conditions, and work-life balance are all increasingly important issues that employees are looking for their employers to address. A fundamental way your business can look to do this is with comprehensive employee benefits packages.
Benefits packages are how businesses look to serve their employees' interests beyond their base pay. Healthcare, dental and vision plans are perhaps the most common example of employee benefits, but they have expanded far beyond these simple measures in recent years. Now, benefits packages can be as competitive as employee salaries, so businesses should look to operate accordingly.
To help your business decide on what the right benefits to provide are, we are going to cover five different employee benefits and why they are worthwhile not only for your employees but for your business as well. Your employees are the backbone of your business, and an investment in them is an investment in your organisation.
Expanded Healthcare Options
Healthcare is one of the standard benefits that businesses have offered employees, but as the options for healthcare services have expanded, so should the benefits that employers offer employees. One of the biggest recent advances in healthcare is digital healthcare, providing access to healthcare professionals and services through remote or digital means.
This means providing services like remote doctor visits and filling prescriptions through services. This can also mean contributing to healthcare initiatives like preventative care, going beyond just checkups and annual exams, and providing for things like gym memberships, nutrition, and other general wellness benefits.
So, while your company may already offer some form of healthcare benefits, look to other ways that you can provide for employees. Things like healthcare apps, addressing not only physical concerns but mental ones as well, are great incentives for employees and worthwhile investments. You may not even consider many options, so opening a discussion with your employees about what they value for their health is a great way to kickstart this conversation.
The advantage for businesses should be clear here as well. Healthy employees won’t miss time for sick days, and you will experience heightened productivity with general wellness.
Mental Health Protections
An essential part of expanded healthcare options is how you provide for mental health. Now, mental health care is often just as important as physical healthcare, with employees' mental health concerns causing rising costs to employers.
Health insurance that covers mental health providers is one obvious way to accommodate mental health services for your employees, but a new method has also surfaced that many employees have come to value. Employee Assistance Programmes (EAP) offer assistance with various areas of employees’ personal lives, including addiction, marital problems, general stress, and other issues. Problems at home can often extend into the workplace, disrupting productivity and causing pain for employees and the business.
This is an increasingly popular mental health initiative, as many mental problems are not the result of lifelong trauma or medical concerns but personal issues that can be solved with time and care. Providing this time and care for your employees through an EAP is perhaps the most valuable mental health assistance you can give them.
With initiatives like EAPs, you have another avenue to provide for the mental health of your employees and ensure that their lives outside of the business are accounted for as well. Your business can not function without employees, so ensuring that your employees work well is imperative for business success.