12 min read | 2 March, 2020 By Laura Sands
Employee and people benefit trends are changing. From mandatory workplace pensions to the offer of shared parental leave, here are the top 4 people benefits for 2020:
One of the most noticeable changes is to the attitudes surrounding flexible and remote working. These, among other new-age thinkings, work together to drive fairer work for all, while neatly mirroring the fundamental thesis from the government-backed Good Work Plan.
Flexible and remote working looked very different ten years ago. From remembering to take paperwork home, to accessing your work's server through OWA and keeping all fingers crossed for a reliable internet connection; the process wasn't always smooth.
As technology advances, our requirements, roles and objectives leap forwards too. Fortunately, thanks to small companies like yours, people benefits are changing to reflect our new age responsibilities and desires.
By opening our minds to different offerings of remuneration and reward, we open the door to more autonomous businesses and fair work for all.
As we move forwards into 2020, the definition of health and wellness is becoming increasingly holistic.
Mental health awareness has soared over recent years. One study showed that nearly a third of UK employees had suffered with severe stress, anxiety or depression over the past few years. And when you consider that work itself can be a cause of anxiety and stress, it’s no longer good enough to ignore your employees’ mental health.
An EAP (Employee Assistance Programme) can help employees who suffer with mental health issues. Putting preventative measures in place may be an even more effective approach. Mental health first aiders, manager training, and mental health awareness initiatives are helpful. You could also consider options such as flexible working to help your employees.
Finding time to attend healthcare appointments can be a challenge for anyone working traditional office hours. For this reason, increasing numbers of employers are providing remote GP services and even arranging for healthcare professional visits. Whether that’s on-site massage, private GP visits or counselling, you can help your employees actively look after their health.
Some jobs are riskier than others. Working with an occupational health expert can help you identify health and wellness needs more accurately and adapt your benefits accordingly. For instance, you could provide chiropractic services for employees in construction or counselling for employees who work in more emotionally charged environments.
The pace of change in how people live their lives is only accelerating. And it's changing the world of work.
For instance, a later pension age means people are working for longer. Increasing numbers of families are seeking to share parenting and the cost of living. What's more, the adaptability of technology means increasing numbers of people are moving away from traditional business locations; people are less willing to move for their jobs, especially if that leads to higher living costs.
To take account of these changes in lifestyle and lifestage mix, successful businesses must adapt their employee and people benefits. Consider including:
The digital natives in your business are used to accessing services 24/7 and increasing numbers of businesses are already embracing this shift. From telemedicine to employee recognition, it’s something SMEs can take advantage of too. Here are a few suggestions:
These easy wins make your employees’ home lives simpler and their time in work more rewarding. And that means a more engaged and motivated team. Win-win.
The final employee benefit trend isn’t related to the benefit employees receive – but instead to the way benefits are communicated. It turns out that too many employees don’t fully understand what’s available to them – no surprise when Aon found that only 34% of businesses have an engagement strategy in place. That’s a waste of opportunity for them and you. Here are a few options to improve the way you engage your teams with your range of benefits:
Think holistically. Your employee benefits should be a strong part of your HR strategy. Incorporate the benefits and the way you communicate them into your strategy.
Get creative. Communicating your employee benefits to the full business needs a marketing-led approach. Not sure how to do this? Get support from within your business – perhaps from someone in your sales or marketing department. Or enlist a cross-section of people from your business to cascade the information to all employees.
Use onboarding to formally inform employees about the benefits available to them. Not only is this a great way of making sure they’re aware of their benefits but is also an excellent way of helping establish your employer brand.
…don’t be restricted by convention. Give employee benefits that reflect your employer brand or employee profile. Want some inspiration? From Netflix’s unlimited holiday allowance to PWC’s help with paying off student loans, here are a host of unusual employee perks to inspire you.