ALC - edenred

Could you cover an unexpected $1,000 bill with your savings? If not, you’re are not alone. A recent Bankrate survey revealed that 56 percent of Americans could not cover the hypothetical unexpected bill, a sign that people are having a hard time building savings and emergencies funds. This is despite the fact many financial experts urge people to set aside funds for emergencies. It also means people and families are on the edge of disaster for financial security.

A lot has changed in the world since 2020 and so has the employee benefits picture. The standard benefits — medical, vision, dental, and a retirement package — are the starting point now for candidates, employees, and employers. But over the years, many companies have turned to Lifestyle Spending Accounts, which are used to pay for health, fitness, and more to help your employees’ general health and well-being.

Do you remember when pizza and Chinese food were just about the only food delivery you could get? There’s no denying that’s all changed, with delivery services vying for business in cities across the country and world. The United States market has doubled since COVID-19 began and is estimated to be worth $25 billion or more. In fact, food delivery is now estimated to be a $150 billion business worldwide, according to McKinsey & Company.

6 ways Lifestyle Spending Accounts can help your employees in 2022

On-demand pay is growing rapidly as businesses adopt it to pay their employees across the country. It is considered a trustworthy payment solution for employers and employees. There are several state and federal regulations companies must follow to remain in compliance.

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.

There’s been a lot of talk about benefits lately and while adding better mental health coverage or a financial wellness program will help create higher engagement, there are other benefits employees love too. Food is one of them.

There’s no denying on-demand pay has left its mark as a viable compensation solution for companies. Businesses and employees have found it to be a better way to pay employees rather than making them wait for a paycheck every two weeks. But will on-demand continue to grow in 2022?

Between the pandemic and The Great Resignation, employers have had to retool their benefit packages to attract new talent and retain current employees. Nowhere is that clearer than with employee wellness programs. While these programs have often maintained traditional offerings, they’ve expanded significantly to cover other areas where employees want help or service.

During the pandemic, the micromobility industry took a big hit. People had nowhere to go, so they didn’t need an electric bike or scooter. However, things have changed. Micromobility is growing again, and for a host of reasons.