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