Summer is the perfect opportunity for brokers to slow down and evaluate their business and strategy, set aside time for professional growth and education, and get reacquainted with important benefits trends.
Employers are using this time to offer new and exciting benefits to improve their employees’ lives in and out of the office, throughout the summer months and beyond. Offering summer perks is a great way to enforce a healthy company culture and keep employees engaged during the most relaxed months of the year. Brad Shuck, an organizational leadership and learning professor at the University of Louisville, said, “It’s also a chance for a company to find out what makes them unique. Seasonal benefits allow a company to explore their personality and it allows them to find out what matters to the people that work there.”
These seasonal changes are important for brokers to consider so they can stay as knowledgeable and competitive as possible. They are also an important indicator as to where benefits offerings are headed moving forward.
Summer Perks
Summer-specific benefits are at the top of everyone’s minds right now, and as summer comes to a close, brokers should take the time to consider what the most popular trending benefits have been this season.
1. Flexible Work Schedule
More and more employers are allowing their employees to work where they want and when they want—especially during the summer months. Companies are loosening their strict 9 to 5 schedules and allowing employees to leave early on Fridays, choose hours that better suit their families’ schedules, and even work from home a day or two a week.
The trend of giving employees more freedom during the summer is growing rapidly—and with good reason—it’s one of the most highly sought-after employee benefits. Nearly 40% of employees rank schedule flexibility as their favorite summer perk. It allows them more time to spend with their families, head out for short vacations, and pursue recreational summer activities.
Employers are finding that when given more freedom regarding their schedule and location, employees become more productive. And due to the growth of professional communication and collaboration platforms, employees are having an easier time than ever working remotely or during non-office hours.
2. Casual Dress Code
As the weather heats up, company dress codes tend to become more relaxed. Employers are offering revised dress codes during the summer to help keep their employees comfortable in the heat, as well as promote a more relaxed environment.
General Trending Benefits
Employers use the energy surrounding summertime to offer exciting seasonal benefits, but it’s important to consider the other benefits that will be trending throughout the rest of the year and beyond.
1. Wellness Programs
Employers tend to be cautious in this category because it’s surrounded by so much legislation, but it’s still a consistently growing trend. Many healthcare plans offer discounts for employees who participate in wellness programs. These types of programs also present an opportunity for employers to build healthier company cultures.
In fact, a recent SHRM survey showed that about 34% of employers have increased their overall benefits in the past year and when they added offerings, they were most likely to increase health-related benefits and wellness benefits.
2. More Personalized Choices
Employees prefer more options and freedom when it comes to benefit plans, so employers are offering more personalized benefits than ever before, including gym memberships, dry cleaning, childcare, and on-site medical care.
Constantly changing legislation is pushing employers to pay more attention to what employees need and then adjusting their benefit offerings, rather than choosing the plans they’ve always offered. They’re increasing their budgets for health care plans, matching rates for retirement plans, and adding additional benefits like vision and dental coverage to better suit their employees’ personal preferences.
Employers are becoming more concerned with providing a comfortable and relaxed work environment with a healthy culture and better-than-ever work-life balance. Unique cultures and quality benefits are a huge draw for potential employees, and they tend to boost overall employee satisfaction. In a recent SHRM survey, 92% of employees indicated that benefits play an important role in their overall job satisfaction.
The need for new and exciting offerings is growing, and it’s important to be aware of the types of benefits employees are looking for. As a broker, you have the opportunity to help clients create specific benefits plans to suit their culture and set future trends.
Clarity Benefit Solutions can help you stay connected and provide clients with top-of-the-line service. For more information, schedule a demo.
Sources:
1. https://www.benefitnews.com/news/flexible-schedules-casual-dress-summer-perks
2. https://www.shrm.org/resourcesandtools/hr-topics/benefits/pages/5-big-benefits-trends.aspx
4. https://benefitsbridge.unitedconcordia.com/top-5-employee-benefits-trends-of-2018/
5. https://www.ehstoday.com/health/employers-use-health-benefits-recruit-workers
