5 TRENDS IN EMPLOYEE BENEFITS
BY: PAUL MATTES
STERLING INSURANCE
GROUP
Trends In Employee Benefits
That Will Attract You The Best Talent
I
f one thing is becoming more and
more obvious, it’s that employees
don’t often feel the need to maintain
company loyalty like they have in
the past. Granted, given the way
many of the largest corporations in the
country treat them, it shouldn’t be too
much of a surprise. Coupled with the
rising popularity of the “gig economy,”
this spells bad news for employers. The
bright side? There are some recent trends
in the benefits packages being offered to
employees that may be turning things
around.
Here are five trends in employee benefits
that will attract and help you retain the
right people:
• GOING DIGITAL FOR HEALTHCARE
This one shouldn’t be a big surprise.
Everything is trending toward digital,
and healthcare is no different. These
tools aim to do a number of things,
including assisting with healthcare
spending and decision making. Some
provide options for online healthcare
through concierge services.
• WELLNESS PROGRAMS
Keeping employees healthy is essential
to keeping them efficient and keeping
them working at all. Many companies
are providing in-house options for gym
memberships, healthy eating plans,
personal training, or even cash incentives
for things like walking the most steps or
quitting smoking.
• IDENTITY THEFT PROTECTION
Data theft is almost ubiquitous now.
With every breach, someone could have
their entire life turned upside down by
someone halfway across the world. Some
companies are providing their employees
with identity theft insurance to help clear
up ID theft issues, including mailing
costs, attorney fees, and other associated
costs.
• IMPROVED PAID TIME OFF (PTO)
Time off is a hot-button issue. Companies
offering attractive PTO for new parents,
family illness, or other similar situations
are not only becoming more and more
common, but the ones who aren’t are
being left behind.
• STUDENT LOAN ASSISTANCE
Anyone following the news in the last few
years is likely aware that student loans
are crippling most workers at the most
pivotal point in their careers. Companies
are beginning to take note and are
beginning to provide options, including
assistance in repayment or access to third
parties who may be able to offer a lower
loan interest rate.
If you consider the acquisition and training
cost of a new employee, it becomes clear
fairly quickly that many of these benefits
offer a substantial savings over the
potential of employee replacement. They
are almost like an insurance policy for
your best performers. How would you feel
if a competitor got one of your best and
brightest to jump ship because they had a
more attractive benefits program?
How about you? What does your benefits
package include? Are you having trouble
attracting or retaining talent? Maybe it’s
time for a change. We can help. Contact
me at [email protected] or
(586) 822-7380 today and let’s get started
on a benefits package that will attract the
quality candidates you need.
Paul Mattes is the Vice President of Sterling Insurance Group. Joining the agency in 1998 and
partnering with Joe Haney as Principal, Paul has been dedicated to instrumental growth of the
firm. Using his CIC, LIC, CRM, CRA, CBWA and CAWC knowledge paired with over 28 years of
experience, Paul works with clients in various industries to prepare solid Risk Management and
Employee Benefits programs tailored to meet their needs. Contact him at pmattes@sterlingagency.
com or (586) 822-7380.
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