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If you manage the employees benefit programs at your company, you probably have been busy. That’s because 51 percent of workers have said their employers are adding benefits or increasing what’s available in the programs they already offer during the last part of 2021 and the first part of 2022.
The Great Resignation is the reality of today’s marketplace. An average of nearly 4 million workers quit their job per month in 2021, holding the highest average on record. Job candidates now expect more from their employers. Workers will leave employment and turn down job offers that don’t fully reflect their lifestyle and values.
Employers are entering into new territory as they call employees back to the office. There’s a lot of uncertainty about how employees will handle it after two years at home. Having an excellent benefits package is one good way companies can ensure that employees come back to the office and won’t lose veteran employees.
6 ways Lifestyle Spending Accounts can help your employees in 2022
Did you know that about three out of every four companies offer wellness programs? Wellness programs are a win-win for everyone. About 70 percent of employees have higher job satisfaction when they participate in a program, and 63 percent of employers who offer the programs have reported increased financial stability and growth.
Brokers are seeing changes in benefits
Improve your employees’ health and well-being
3 supportive benefits that are gaining popularity
While in 2013 only 13 percent of employers felt extremely responsible for employees’ financial awareness, that number has skyrocketed to 62 percent in 2020, according to a Bank of America survey of 808 businesses that have a 401(k) plan.
There are many reasons financial wellness has become so important. To employees and employers. First, employers have found that financial wellness increases employee engagement.
It’s also becoming more important than ever to make sure people are able to handle unexpected financial situations. Plus debt, particularly student loan debt, is become a major stressor for employees.
In fact, managing finances is the top stressor for employees, according to PwC, and that stress is so bad it often becomes a distraction at work.