Some organizations may still be offering benefits programs that were designed several years ago and aren't fit for purpose anymore – especially in our current circumstances. (Photo: Shutterstock)
If this past year has shown us anything, it's that we – as employers and employees – are individuals. The pandemic has thrown everyone's personal and working lives together in a way never seen before. From tough work-from-home set-ups to illness and homeschooling, each employee will have had their own individual pressures to deal with that ultimately impact their work. A growing number of employers have taken action this year to take a more individualized approach to supporting their employees.
A key part of that for example is the CEO Action for Diversity & Inclusion pledge – more than 1,000 chief executive officers signed the pledge to take definitive action on their diversity and inclusion policies.
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This commitment to leading by example is a huge step forward, and one that other organizations are sure to follow if they have the best interests of their employees at heart. Employers can reinforce their commitment to their employees through their benefits offering, ensuring it is inclusive of all employee needs.
Embrace the individual to create a more inclusive environment
Some organizations may still be offering benefits programs that were designed several years ago and aren't fit for purpose anymore – especially in our current circumstances. Without regularly evaluating and amending their benefits offerings, organizations are missing out on opportunities to better support their staff – and also make significant cost-savings by eliminating or adapting under-used benefits.
Many organizations still don't have the technology or infrastructure in place to be able to analyze their global workforce effectively. This means that many organizations are overspending in areas that don't make a difference to their employees at all, leaving them with little scope to implement new initiatives and trail quick-wins to offer the support their people actually need. Employers need to make sure they have a holistic view of all their employees across the globe, and tailor their benefits schemes to meet individual needs to stay relevant.
Organizations can also show their commitment to inclusivity by offering learning and development programs outside of an employee's benefits selections. University of Pennsylvania researchers found that diversity training can produce changes in both attitude and behavior, creating a more welcoming environment for all employees. Boston Consulting Group also found that diversity increases an organization's capacity for innovation and future growth.
Offer benefits that keep up with an evolving workforce
It is impossible to imagine a benefits package that doesn't include health care support for people who suffer from heart disease or diabetes. But what about those who suffer from mental illness? Are their needs being met? What about benefits provided for married partners versus non-married partners?
If benefits aren't keeping pace with the evolution of its workforce, employees may not feel supported at work. By supporting employees equally, no matter who they are, their healthcare needs or marital status, employers thrive. Employers can accomplish this with a competitive benefits offering that is easy-to-access and engage with. Through technology, benefits can be managed and administered at a global-level and easily delivered to a remote, multinational workforce while maintaining the employer's culture and a level of global consistency.
Our latest research found that 82% of employees who think that their organization takes their needs into account 'strongly agree' that their employer-provided benefits make them feel valued, and 68% see themselves staying at their organization for the long-term. Benefits technology makes it easier for employees to engage with and select their benefits, allowing organizations to demonstrate that they value their people.
Show continuous support
Our research also revealed that 71% of HR professionals believe that "empathizing with employee and customer fears" is now essential to their employers' success. In addition to hosting virtual happy hours and other online gatherings to bring staff together, organizations must remember to respect employee PTO during the pandemic.
Organizations should also consider addressing the benefits gap between married and unmarried employees. Our past research shows that, on average, married employees receive 3.6 more days of PTO annually than single employees.
A consistent and supportive culture at work has never been more important. As a society and as business leaders, the world will look back at this time as an opportunity taken or an opportunity lost. Companies should use this opportunity to make changes and reinforce their support for their employees.
Lead by example and be there for the team
Organizations don't have to spend a lot to show their employees they care, value their contributions and appreciate who they are as individuals. Organizations' commitment to grow, learn and become better institutions for their employees will set them apart.
By creating and delivering benefits programs that meet the individual needs of employees, organizations can build a more inclusive and equitable working environment. In offering benefits that keep up with an evolving workforce, companies not only foster loyalty – but also a happier and more productive workforce for years to come.
Chris Bruce is co-founder and managing director at Darwin, a leading benefits management and employee engagement solution.
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