It comes as no surprise that there has been a shift in priorities for many employees over the past year. The things individuals thought were important as little as two years ago no longer seem so critical, while some issues now have come into the forefront and are deemed to be absolutely necessary.
Decision makers for employee benefits have taken notice and are responding with a revised menu of benefit options. Primarily, they’re focused on enhancing benefit selections, rounding out wellness coverage, boosting mental-health coverage and adding childcare programs and telehealth options.
Employers are generally mindful of how financially stretched their employees might be and are trying to limit how much they add to their burden. Instead of raising benefit levels for all employees across the board, it may be beneficial to develop a more targeted approach and let individuals select the benefits that are best suited for them, through a voluntary benefit package as an example.
One thing is clear however… in today’s economy employees have shifted their perspective on compensation, focusing intensely on the employer sponsored benefit portfolio.
My Benefit Advisor (MBA) guides employers of all sizes through planning, communicating, and managing a successful employee benefits program. We are ready to help you find the solution that fits your needs, from group insurance to individual coverage. For more information about MBA, contact us.