According to a Willis Towers Watson survey, ninety-four percent of employers find voluntary benefits crucial to their talent and total rewards strategies over the next three years, compared with just 36% in 2018.
A growing number of organizations recognize that voluntary benefits are valuable to employees and their families—and many come at little to no cost for the employer. Employers can help address surging physical, mental and financial wellness issues through expanded voluntary offerings at a time when they are more necessary than ever.
Employers are expected to offer a wide range of voluntary benefits to meet workers’ unique needs. Holistic offerings address not only physical wellness but also employees’ mental and financial wellness.
Dental and vision care continue to be standard voluntary benefits. However, the pandemic is making the following nontraditional offerings popular:
73% of Americans rank their finances as their top stressor, according to a CreditWise survey.
When employees experience lower financial stress, employers may see greater employee productivity and morale and lower absenteeism. Increasingly popular financial wellness voluntary benefits include:
Two major health care issues became apparent during the pandemic:
Employers can help make remote health services more accessible and affordable by providing benefits that offer telemedicine or remote health services. Telemedicine is a valuable and cost-effective way to receive medical care from the comfort of home.
CBC has a wide range of coverage types & carriers for your business, allowing you to create a comprehensive yet cost-effective benefits package with various plans to offer your employees.
Voluntary benefits, holistic offerings, employee benefits, financial wellness, remote health services
Kenneth Bahl is the President of Custom Benefit Consultants, Inc., where he has played a pivotal role in leading the company’s mission to create sustainable healthcare solutions that not only address modern challenges but also deliver meaningful savings. With over two decades of experience in the field, Kenneth’s expertise in benefits administration and employee benefits analysis has been instrumental in the company's success. Under his leadership, Custom Benefit Consultants, Inc. has become a trusted partner for employers seeking innovative solutions to meet the needs of their teams. In addition to his leadership role at Custom Benefit Consultants, Inc., Kenneth is also a key player at Control Source, Inc., where he has helped redefine administrative solutions for clients. Through the company’s advanced technology platform, which includes absence management, billing administration, and other dynamic services, Kenneth has enabled businesses to reduce legal risks, lower costs, and enhance operational efficiency. His work ensures that these scalable solutions seamlessly integrate with company culture and branding, positively impacting both employee experience and the company’s bottom line.
Kenneth holds a degree in Healthcare Administration, which laid the foundation for his extensive career in the healthcare benefits sector. His academic background, combined with years of hands-on experience, has given him the expertise to navigate the complexities of employee benefits and help organizations optimize their benefits programs.
Outside of his professional endeavors, Kenneth enjoys a fulfilling family life. He values the balance between his dynamic career and his growing family, which now includes six grandchildren. This personal connection enriches his perspective on the importance of supporting individuals and organizations in ways that foster long-term success, well-being, and positive relationships
