Employers, we know you are grappling with an ever-changing business landscape. Recruitment and retention are especially challenging with unemployment at a record low, and employees rethinking how, where, and if they even want to work for a company.
Besting your competition with benefits
You need to update your long-time policies to be more flexible and customizable to meet demand and retain talent. More appealing benefits mean more satisfied workers; satisfied workers are more productive and less likely to seek employment opportunities outside your company.
On top of employee expectations, inflation and rising healthcare costs are driving you to evaluate your benefits programs and strategies carefully. In particular, you want to find ways to make healthcare more affordable for yourself and your employees.
Traditional healthcare benefits, 401(k) plans, and benefit spending and savings accounts are key components of any top-tier benefits package, and these elements appeal to workers in all career stages. You need to demonstrate that you are hearing what your people want and make sure that your benefits fit into today’s workplace.
Nine out of ten employers surveyed identified managing healthcare benefit costs as their top priority over the next two years. We are helping companies like yours evaluate the following employee healthcare packages adjustments:
- expanding low or no-cost coverage for selected benefits
- making changes to employees’ out-of-pocket costs
- revising health plan payroll contributions
Meeting mental health needs
Unfortunately, more than two-thirds of employees are estimated to have clinically measurable mental health symptoms of anxiety or depression. Employers have seen the value of expanding mental health benefits to keep valuable workers. During the pandemic, 40% of employers increased mental health benefits. Nearly half of companies with more than 5,000 employees saw a significant increase in workers using mental health services. Given the mental health statistics, junior-level employees to senior executives need help. Mentally healthy workers can channel their energy into supporting the success of your business. Studies have shown that happier employees are better employees with increased productivity anywhere from 12% – 20%
Working out wellness
PT Business Solutions works with you to step back and examine the accessibility of your benefits from multiple angles. Are these the benefits your employees want and need? Is care affordable for all employees? Can they access care in a way that fits into the flow of daily life? Are equitable benefits available to all members, regardless of gender, age, racial or ethnic identification, or whether they have disabilities?
Workplace benefits that align well with the needs of individuals will entice staff and keep them in roles long-term. Reach out to us today to learn more.