With an improving jobs market and more candidates making their way into the workforce, it’s become critical that companies who want to succeed and attract top talent stay competitive. In addition to salary benefits, reports show that today’s workers are looking for more than just financial compensation for the work they commit themselves to. Many want to align with a business who shares their beliefs or is making a positive impact in their market. Others are looking for more flexibility to better balance their work and personal life.
Recently, the Society of Human Resources Management (SHRM) published a report to look at some of the most in-demand benefits being offered today. This list included a rise in wellness benefits, especially at larger companies.
Even smaller businesses with less than 99 employees are now becoming focused on tailoring wellness benefits that address the needs of their employees.
Some examples include:
- Standing desks to reduce strains and other issues that come from hours of sitting at a desk.
- Stress management programs to help curb burn out in demanding industries.
- Work from home and flexible scheduling options to help balance work-life needs.
- Paid parental leave for new parents.
This last benefit was also the focus of a recent study conducted by Stanford University to show that fathers who had paid time off when new babies are born helped mothers with a speedier and healthier recovery.
The push to offer more flexibility with how employees use their paid time off is already making way into U.S. companies. In time, benefits to meet a changing population will need to be reevaluated by companies as they develop and improve compensation and benefits packages for employees.
In the end, these programs help to improve overall worker health, reduce hospital visits, medication needs and even lower employer health care costs.