5 Trending Benefits To Implement In 2023
Benefits are always evolving and adapting, especially with new generations joining the workforce and work environments becoming more flexible. Whether it’s the option to work remotely or commuter benefits, there are endless ways to help your employees feel valued. With the new year right around the corner, it’s the perfect time to consider what benefits you’ll be providing employees in the upcoming months.
To make things easier, we’ve laid out a list of the benefits employees are looking for out of their current or future employer!
1. Financial Wellness Contributions
With record high inflation rates in the past year, employees have been challenged financially to keep up. To mitigate the effects, it will be crucial to provide benefits that help your employees stretch their paycheck. Luckily, there are plenty of ways to provide financial value to your team. A few examples include financial reimbursements 401(K) contributions, a flexible spending account, financial planning and coaching, and implementing or upgrading your employee discount program.
2. Voluntary Benefits
Healthcare costs only continue to increase causing employees and their families added stress. A few of the trending voluntary benefits that companies are taking advantage of are accident insurance, critical illness, hospital indemnity insurance, disability insurance, life insurance, identity theft protection, and pet insurance. By including these benefits at no-cost to employees, it’s a great way to provide protection and security.
3. Family Planning Support
According to Mercer data, 70% of employers are already offering or planning to offer parental leave in 2023. Additionally, 53% are providing or planning to provide paid adoption leave. Not only that, but companies are starting to provide surrogacy benefits, fertility treatment coverage, on-site or backup childcare options, and extended leave for both parents.
4. Mental Health Benefits
With the recent pandemic, increased inflation, and a rise in layoffs, employees have been not only challenged physically but also mentally. Now is a great opportunity to add or improve your benefits around well-being. A few examples you can provide include online resources like classes or apps, employee assistance programs, employee training and workshops, and discounted therapy access.
5. Unique, Outside The Box Perks
Employers across the nation are starting to implement fun, exciting benefits that employees are loving. Whether it’s extended time off for holidays, volunteering days, unlimited PTO, lunch stipends, pet-friendly workspaces, or home-office contributions, there are plenty of ways to increase employee engagement with new perks.
When it comes to employee benefits, there are plenty of opportunities available to help your employees feel valued. Ready to get started today with a financial benefit that helps employees save on the things that matter most? Sign up for a demo and provide your team with exclusive access in a matter of days.