Employers Will Need These Top Benefits in 2022, According to HR Experts
In 2022, the five most important employee benefits and perks will be in place. Everyone looks for new opportunities to enhance employee benefits and provide additional assistance to their workforce. For the year 2022, we’ve compiled our top picks.
A new year is coming up in 2022, and with it comes a new opportunity to improve your employee benefits. Here are five benefits trends that we think are essential:
Programs for Financial Wellness
Many employers do not understand the effects of long-term financial stress, even though it is consistently ranked as the top stressor for employees. Worried workers are more likely to suffer from mental health issues such as stress-induced depression and burnout, harming productivity. There has been a rise in the ratio of less productive employees at work due to financial concerns in recent MetLife surveys.
Best Money Moves, a financial wellness program, can assist employees in regaining control of their finances. Employees can track their financial stress, set monthly spending goals, reduce their debt, and prepare for unexpected expenses with the help of Best Money Moves’ tools and features. Over 700 articles, videos, and calculators are available to employees to help them learn about everything from investing to co-signing loans to purchasing their first homes.
Easy Way Paid Leave
The American Families Plan, a comprehensive parental, medical, and family leave program, was launched by the White House in 2021. The fact that 75% of voters said they would support an all-employees paid family and medical leave policy indicates a real shift in Americans’ perception of leave regardless of whether the plan passes.
Even though many companies are following suit, there is still a wide disparity between the number of workers who want the benefit and those who have access to it. According to the same MetLife review, 80 percent of employees intend paid leave, but only 57 percent of their employers offered any leave, paid or otherwise…
As an outcome of the COVID-19 pandemic, many workplaces have adopted a hybrid strategy that incorporates on-site and remote work. The capability to work from home has become a necessity for some, with nearly half of employees in a recent PWC report saying they would prefer to work from home three or more days a week or more.
And a survey of more than 30,000 workers found that six out of ten said they were more creative when working from home than expected.
Mental Health Care
There has been a rise in the number of people seeking help for burnout and depression from their employers. Employees polled by MetLife reported feeling stressed more than half of the time. While working extra, 34 percent of workers reported feeling burned out, and 22 percent reported feeling depressed, significantly increasing from the previous year.
Increased absenteeism and employee turnover can be caused by burnout. Try to create an office environment where employees who ask for help are rewarded, and consider adding mental health benefits to your health insurance plan. To counter this upward trend, you can implement these strategies, which will benefit your employees in terms of their well-being and productivity.
Help With the Repayment of Student Loans
As a new survey shows, the current generation has more student loan debt than any other generation, which is why they make up most of the workforce. Add student loan repayment to your benefits package to improve employee satisfaction and productivity.
Companies can make tax-free contributions of up to $5,250 to their employees’ student debt under the United Appropriations Act passed by Congress in 2017, making this benefit even more appealing in 2022. An extension through 2025 has been granted to the pandemic-related CARES Act, which originally included this provision, but many hope the change will be permanent.