Rethinking Wellness Benefits
The global pandemic has changed the way we work and live… Traditional benefits packages may no longer be enough to attract and retain top talent and companies need to adapt to the changing needs and expectations of their employees. In this blog post, we will explore why companies need to rethink their benefits packages and suggest some solutions to this problem.
A 2023 report from Glassdoor states 60% of employees reported that they strongly consider perks and benefits offered before accepting a job offer. The pandemic has brought to light the importance of mental health and wellness benefits. As employees continue to work from home or experience new challenges at work, they may be struggling with stress, anxiety, and burnout. Companies need to prioritize mental health and wellness benefits, such as counseling services, mindfulness programs, and wellness coaching, to support their employees' overall well-being.
Recently, counseling services have gained more prominence in the workplace, with employers increasingly offering them as part of their employee assistance programs (EAPs). However, human resources (HR) professionals must start examining the quality of these services in greater depth. Traditionally, EAPs provided generalized counseling with a predetermined number of visits annually, bundled with other benefits like short-term disability, for a reduced price.
However, even though EAPs are important for acquiring and retaining talent, it isn’t valuable if your employee doesn’t take advantage of them. Companies often end up choosing an EAP that has very low utilization rates because of 2 main reasons: it’s not what employees need and they aren’t advertised enough in a company.
If you are interested in not wasting money on benefits your employees do not use, then focus on these 2 tips:
1. “Your EAP shouldn't be a “get it and forget it” benefit.”
Debby Routt CPO at Marathon Health states companies need to find ways to make the benefits more attractive to their employees. Companies need to come up with a plan that promotes the offerings throughout the year in order to make them front and center, so employees know they exist.
Many companies have been betting on training their leaders or a few employees about mental health. These people can be key for quickly identifying who is in need of these types of tools and can remind them that they are at their disposal.
2. Introduce EAPs that your employees need
Instead of a cookie-cutter approach, Debby Routt states that companies need to find what kind of help their employees need. If you have many employees looking for help with anxiety, burnout, childcare, or financial hardships, you need to use this data to assess the best benefit plans for your employees and your company.
It can be hard to have a solution for all of the needs of every single person, especially if a company has tens of thousands of employees. This is where flexible plans come in handy. Many mental health companies provide flexible plans, programs, or pay-per-usage types of benefits. Instead of investing your budget in a generalist mental health app, you can distribute your budget across different solutions so your employees have the freedom to get very specialized and tailor-made mental health programs for every single need.
EMOTAI brings the best of both worlds to companies. It’s an engaging, affordable, and flexible mental health solution. Made for employees’ specific needs like anxiety and burnout, while increasing productivity. Learn how EMOTAI can help your company by booking a demo here.
In conclusion, companies need to rethink their benefits packages in light of the pandemic and changing employee needs and expectations. By prioritizing mental health and wellness benefits that employees need and will use, companies can attract and retain top talent, improve employee well-being, and drive business success.