Will the Great Resignation of 2021 push into 2022 and keep benefits administrators on their toes? The Great Resignation has created a gap and record high of 11 million job openings. How will benefit administrators introduce benefits to improve relationships and longevity with workers? In this article, we will navigate the upcoming employee benefits trends that are shaping 2022 and what is influencing these changes.
Healthcare Benefits Trends in 2022
Physical and mental health wellbeing continues to be a primary employee benefit concern in 2022 with a surge of needed support for mental and emotional health. Forbes’ future workplace study shows the importance and need for mental health and well-being as a necessary benefit with over 24 percent of employee responses listing it as a top priority.
Work Flexibility Trends in 2022
The pandemic may have shifted the need for work flexibility to a point of no return. Employees expect to see some type of work-from-home privileges when employers are recruiting. The majority of employees desire a work-life balance through flexible work programs. For employers that are concerned about productivity, employees are showing their ability to be productive remote workers. Additionally, employers are creating more virtual positions and need to develop a means for connecting and interacting with colleagues in these virtual spaces.
Leave Benefit Trends in 2022
Potential changes in U.S. policy could guarantee workers twelve weeks of paid family and medical leave. Most likely dispensed through the U.S. Treasury Department and Social Security Administration, the policy could guarantee paid sick days as well, dependent on its approval through the United States political system. The pandemic has caused the current workforce to rethink what benefits matter to them most, and working parents are more interested in a flexible work environment with leave that supports the ongoing changes to daily schedules due to sickness and quarantine requirements across the U.S.
Wellness and Mental Health Benefit Trends in 2022
Employees are still feeling the burnout of a global pandemic. We want the pandemic to fade away, but the reality is that it’s still here. An indeed study showed that employee burnout has gotten worse. Burnout is taking a toll on employees’ mental health and some larger companies are finding ways to make a positive impact. Companies like Nike closed corporate offices for a week in an attempt to lessen the burnout that employees are feeling. Other companies like LinkedIn and Bumble are taking the same approach.
Financial Employee Benefit Trends in 2022
Millennials are now the largest population in the labor force and student loan repayment is playing a larger role in employee benefits trends. Employers are including student loan intervention as an option for employees. A recent study by American Student Assistance reports that four out of five employees would choose to stay at a company for five years if they helped with their student loans.
Other trends include the typical retirement options like 401k matches and financial wellness programs. Financial wellness programs include financial counseling and how employees are building their retirement accounts up to ensure long-term security.
How are your Benefits Changing to Meet the Needs of 2022?
Great employees have options in today’s market. Businesses that want to capture these workers need to have high-value programs to meet the demands of today’s workforce. Employees that feel engaged and invested in by their organizations are willing to invest more of their time and skillsets.
Struggling to Keep up with Changes to Benefits Law?
Travisoft is here to simplify the complex challenges of administering benefits. Ask us about COBRA administration and Retiree, FMLA and Direct Billing solutions. We’re here to help!
*This news is for informational purposes only and should not be considered legal or operational advice.