Driven by the need to attract and retain talent, non-traditional voluntary benefits are increasing. The pandemic has also triggered the growth of voluntary offerings, boosting demand for supplemental health insurance products such as long-term care, critical illness, and mental health coverage. Read on the following rising voluntary benefits for employees.
Provide Your Employees Tools for Smart Decision-Making
A robust voluntary benefits package involves educating employees about their options and how to utilize them. Also, unique content and messaging based on eligibility are critical for effective enrollment communications. Your employees need tools to guide them during enrollment and to help them pick the rising voluntary benefits that best suit their needs and support their basic requests.
Provide a Customizable Voluntary Benefits Package
Workers appreciate the ability to pick and select the benefits that best meet their needs. Additionally, variable and robust voluntary benefits for employees provide access to benefits they might not be able to qualify for or afford. Moreover, it shows your interest in their health and well-being. As you plan your 2023 voluntary benefits package, consider these rising voluntary benefits for employees in the market.
- Pet Insurance Benefits. Even though remote work options make pet ownership more accessible, pets represent a financial burden. During the pandemic, new owners chose to get a pet.
- Family Care Support. This includes flexible work hours, child care reimbursement, paid leave via concierge caregiver, a flexible spending account, and more. Providing benefits that help workers manage caregiving responsibilities can help them optimize work productivity and personal lives.
- Mental Health. Consider mental health as one of your voluntary benefits for employees. This includes text-based therapy apps, preventative mental wellness programs, and screening and treatment for behavioral health diagnoses.
- Reduce Student Debt. Stress linked with financial concerns affects employee productivity. Differentiate your company by providing benefits to help employees minimize financial stress. Other options include loan payment match programs or swapping cash payments for unused paid vacation.
- Identity Theft. This low-cost benefit boosts employees’ sense of financial well-being. It was one of the fastest-growing voluntary employee benefits in 2021, and it’s still increasing.
Get Your Voluntary, Supplemental, and Health Insurance Policies with the MWE Partnership!
Are you a business looking to provide your employees with essential voluntary benefits? If so, look no further than The MWE Partnership. When you choose The MWE Partnership, you get experienced service and comprehensive voluntary benefit options that will meet all your employees’ needs. With over 17 years of experience, The MWE Partnership is your go-to provider for all your supplemental benefit needs. If you are interested in finding out how The MWE Partnership can help your business, contact us today! We encourage you to like our Facebook page and follow us on Twitter and LinkedIn for the latest voluntary benefit news!