How Employee Benefits are Shaping Up in 2022

Introduction

Benefits are the additional perks that come from working for a company. Traditionally, these have been things such as health, dental, and life insurance as well as 401K plans and annual leave. However, over the past few years, people have started to prioritize some other benefits that a company might offer as well.

This article focuses on some of the benefits that our experts see rising in popularity over the year 2022. Take a look and see if they line up with what you’re looking for too!

Flexibility

There’s no doubt that the workplace has been forever changed by the popularity of working from home that we saw over the past few years. So many people enjoyed this format that it has become a prioritized benefit many job seekers look for and employers are listening.

“Being able to work from home on occasion or work a flexible schedule so you can prioritize your family or personal activities have become a popular perk that job applicants are looking for,” says Ray Leon, CEO of Pet Insurance Review. “To accommodate these new preferences, many companies are implementing policies for flex days and using digital platforms that allow their staff to work efficiently in or out of the office.”

“After working from home for so long, it’s understandable that many people want to see that as an option for the future as well,” says Kiran Gollakota, Co-Founder and CEO of Lightyear Health. “While working from home can be great, there are also a large number of people who don’t want to be confined to their home all the time to work. Instead, they want a workplace that allows them flexibility in regards to workplace location and sometimes work hours as well.”

Mental and Emotional Health Priorities

As the world starts to pay more attention to these aspects of wellbeing, staff and applicants alike are looking to their employers for support of their health needs in a holistic manner. They’re looking to see what employers are offering health plans that cover mental wellness checks and appointments and are accommodating to the mental health needs of their employees.

“We’re seeing more and more employers embracing healthy mental health habits and encouraging that among their staff as well,” says Karim Hachem, VP of eCommerce, La Blanca. “In fact, it’s becoming a benefit that some applicants have set as a non-negotiable when setting out to apply for jobs. If a brand wants to remain competitive in their industry, supporting your staff’s mental and emotional health is becoming a requirement.”

Employee Leave

This isn’t necessarily a new benefit to look for, but there are more people prioritizing leave than there have been in the past when it comes to applying for jobs. People want to be able to spend time with family or prioritize themselves with personal days off without the fear of running out of days to use if they get sick.

“The idea of running out of days off became a very real problem for a lot of people over the past few years due to Covid,” says John Cheng, Co-Founder, and CEO of Baotris. “Some employees needed to use all of their vacation and sick time to recover and were left with no personal days in a time where those were needed for overall wellbeing. This has led to leaving being more of a priority than ever before.”

There is also a benefit for both employers and employees when they use 401k for small business, this provides access to the retirement saving plan.

“With the world becoming more of a global workforce every day, many employees are looking at how some other countries handle leave and personal time and realizing it’s not the same everywhere,” says Ari Evans, CEO of Maestro. “In order to remain competitive in a world where people can work online from anywhere in the world if they choose, it’s important to make sure you’re doing what you can to keep your staff healthy, happy, and cared for by giving them leave time they deserve.”

Workplace Culture and Values

This is a relatively new idea for many and it’s often not something people think about when they’re looking at benefits. However, how beneficial is it to have a workplace where you can feel supported and valued? Workplace culture has changed dramatically over the last few years and this has become something that people are actively seeking in their workplace.

“Applicants are actively seeking places where they feel that they ‘fit’,” says Michael Van, CEO of Furnishr. “People are realizing the value of a workplace sharing the same values and providing a culture that supports them in their professional and personal life. It’s understandable that people want to spend their time in a place that is going to support them when most of their waking hours will take place within the culture that they surround themselves with in the workplace.”

“The culture of a workplace isn’t just a ‘benefit’ but it can be the highest priority for some,” says Natália Sadowski, Director of Aesthetics at Nourishing Biologicals. “In today’s world, it’s not uncommon to hear that someone took a pay cut to work in a place where their values and personal beliefs were respected. People are realizing the value in working for an employer that is supported and we need to be actively looking to be the best in our industries at providing places that can do just that.”

Conclusion

In conclusion, while traditional benefits and monetary perks can be great, there is a lot more that people are looking for in terms of benefits within a company. Many of these things are newer priorities that people haven’t necessarily sought out in the past but employers are quickly realizing the importance of providing these benefits if they want to retain their valuable employees.

Healthcare is important, but people are looking for health insurance plans that also offer mental health and wellness coverage too. While this was sometimes included in past plans, many people are actively searching for employers that will provide this now. Additionally, people want to be able to work flexible schedules or even from home on occasion if needed. Personal leave and sick policies have been prioritized more over the past years after many people had to dig into that time to take time off due to quarantining or Covid infections. Finally, people want to be in a workplace that has a strong culture and values that they can identify with and feel accepted and comfortable at work.