October 2, 2024, Comment off
Top Employee Benefits Trends to Consider During Open Enrollment
Employee benefits trends help determine which benefits to consider during open enrollment. Offering the benefits most employees desire strengthens attraction and retention rates.
Keeping up with employee benefits expectations increases engagement, job satisfaction, and employee morale. These factors elevate the bottom line.
Consider these top employee benefits trends during open enrollment.
Mental Health Support
Offering mental health services acknowledges the importance of employee well-being. Mentally healthy employees contribute to a high-performing, supportive work environment. Prioritizing employee mental health also reduces stress and the odds of burnout.
Examples of mental health support include:
- Digital resources to support stress management and resiliency
- Apps with self-guided tools to manage stress and build coping skills
- Onsite employee assistance program (EAP) counseling services
Flexible Healthcare
Because employees want healthcare customization to fit their needs, the following budget-friendly options are trending:
- Health savings accounts (HSAs)
- Tiered health plans
- Telehealth
- High-deductible healthcare plans
- Wellness programs that incentivize healthy behaviors
Retirement Plan
Providing a retirement plan with a company match helps employees save enough money to live in later years. The ability to stop working in the future encourages productivity and performance.
A 401(k) is a popular retirement plan because of the employee and employer benefits:
- Employees contribute tax-deferred dollars to live on when they retire.
- Employers provide tax-deferred contributions to support employees’ retirement accounts.
- Contributing pre-tax dollars to a retirement account lowers the employee’s and the company’s taxable income.
Professional Development
Continuous learning strengthens career development. Developing their knowledge and skills helps employees take on additional responsibilities, earn promotions, and provide more value for the organization.
Offering professional development elevates employee engagement, productivity, and innovation. These factors help your company stay competitive.
Financial Education
Offering financial education resources such as budgeting tools, debt counseling, and education on homeownership and investing helps employees make informed financial decisions. Financial wellness impacts employee mental health, job satisfaction, and tenure.
Family Care Assistance
Employees who choose to have children desire assistance with the rising costs of family services. Providing benefits such as maternal and paternal leave, leave for the loss of a child, and assistance with adoption services and childcare create a more inclusive, supportive workplace.
Would You Like Help Developing Your Employee Benefits Package?
Top employee benefits trends impacting 2025 include mental health support, flexible healthcare, a retirement plan, professional development, financial education, and family care assistance. Offering these benefits strengthens job satisfaction, employee morale, and attraction and retention.
Arlington Resources can offer advice to help develop your employee benefits package. Connect with us to start the process today.
