If legacy benefits are no longer relevant or widely used, organizations have an opportunity to reallocate funding to more in-demand offerings, potentially achieving a “budget neutral” approach (where no increase in cost is incurred). With affordability and cost being major concerns, creativity is key to ensuring investments are directed towards resources that truly benefit both employees and the business.

The rise of "hot" benefits

Expanded PTO and leave policies

Paid sick days for family care: This is a firm favorite, allowing employees to care for family members without sacrificing income.
Increased flexibility: Employees highly value using PTO for elderly care, childcare and other unexpected life events.
Broader leave options: Beyond traditional maternity and paternity leave, there is a significant opportunity to extend policies to cover adoption, foster parenting, bereavement and miscarriage.
Alignment with employee expectations: Rethinking and updating leave policies to match employees' evolving needs and expectations is crucial as part of a robust EVP.

Emerging health and family support benefits

Menopause and andropause (male menopause) support: These benefits are gaining traction. Our findings revealed that a significant number of plans cover mental health therapy for menopause (49%) and andropause (39%).
Fertility health support: Given the trend of delayed parenting, financial planning assistance and subsidies for fertility treatments are becoming vital. These help alleviate the significant costs associated with reproductive health.
Comprehensive care subsidies: Organizations can significantly reduce the financial stress of family planning by offering enhanced financial subsidies for childcare, backup care, elder care and adoption.

A holistic approach to wellbeing

Caring for the "whole person" requires a holistic wellbeing approach, which recognizes the interconnectedness of physical, emotional, mental and financial health throughout all life stages.

Instant Insights /

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