FOCUS SECTION
BUSINESS EMPLOYEE ETHICS benefits alliance
Trending Benefits
FLEXIBILITY AMONG TOP PERKS SOUGHT BY EMPLOYEES BY BROOKE STRICKLAND
AUNDREA HULL
AVP, SENIOR ACCOUNT MANAGER, LOCKTON COMPANIES
Aon is in the Business of Better Decisions As a leading advisor in healthcare solutions, Aon helps companies create a more flexible, engaged and resilient workforce. We give clients the clarity and confidence to make better decisions to protect and grow their business. aon.com
HOWARD SHANDELL
GENERAL PARTNER, MIDWEST BENEFIT ADVISORS
BEAU REID
SENIOR VICE PRESIDENT OF EMPLOYEE BENEFITS, HOLMES MURPHY & ASSOCIATES
Struggling to fill open positions in industries of all kinds, employers have been getting creative in how to attract and retain qualified employees. One of the ways they are achieving this is by listening to what people want, and ultimately offering robust benefit plans that reflect that.
Flexibility
The pandemic shed light on how much people value flexibility – especially from their employers. It also gave people insight into where their priorities lie. Are their family connections struggling due to the number of hours spent at work? Is their mental health suffering because they have put their own well-being on the back burner for the sake of never-ending work projects? In other words, employees of all ages are asking themselves if they are giving more to their job than they are getting in return. In a 2022 report published by MetLife, employees shared that if their employer offers greater flexibility and a better work-life balance, they would be 1.8 times more likely to stay at their job. Employers are recognizing that this is important, so they are providing remote or hybrid work opportunities. Others have given employees more flexibility in their hours, such as four longer workdays and a three-day weekend. “Outside of the core benefits like medical, dental, vision, life and disability insurance, employees are finding value in work perks Page 16 • November 18, 2022
that employers are offering and increased flexibility,” said Aundrea Hull, AVP and senior account manager at Lockton Companies. “The work perks range from cell phone stipends to lunch provided, identity theft protection to education subsidies for employees. More so, employees are valuing the flexibility to meet the needs of their home life and work life by telecommuting or a flexible work schedule.”
Time Off
Having a healthy work-life balance means carving out time to relax and re-energize. Without that, employers are at greater risk of losing qualified employees, simply because they are burnt out and experience increased physical and mental health challenges. “Right now, time off is the No. 1 concern in every employee survey we see, followed closely by wages and then by health insurance,” said Beau Reid, senior vice president of employee benefits at Holmes Murphy & Associates. “While employees are not necessarily asking for more, they are comparing against other opportunities in the market.”
Health Care Plans
Most employees expect – and need – a health care plan that covers them, as well as their families. Howard Shandell, general partner for Midwest Benefit Advisors, said that when