Prioritizing Well-Being Post-COVID - Sam Slade

Prioritizing Well-Being Post-COVID - Sam Slade

While most businesses have reopened and returned to a semblance of normalcy following COVID-19, one thing that may never be the same is employee benefits. As a result of the unique challenges posed by the pandemic, businesses are continuing to offer flexibility to support employees through things like leave, hybrid work and other benefits.

According to a new survey by Fidelity Investments and Business Group on Health, many employers have boosted benefits aimed at meeting the evolving needs of employees to advance their well-being. Following are some of the top priorities for companies today that the survey revealed:

Mental Health: For 2021, 92% expanded the support for mental health and emotional well-being, which includes programs focused on stress management, sleep improvement and resiliency, as well as pediatric-focused mental health programs.

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Work/Life Balance: Nearly three-quarters (74%) of employers increased programs to support work/life balance, with 69% of employers adding new leave options or expanding their leave benefits during the pandemic. In addition, many employers are examining their parental leave, including time off for adopting a child.
Caregiver Support: Companies increased programs designed for caregivers, including 64% that enhanced childcare support, 55% that provided paid leave to care for a child or other family member and 48% that provided back-up childcare support.

Financial Health: Companies continue to focus on providing additional support for employees’ financial well-being. For instance, 83% of employers will provide programs to support emergency savings, debt management and budgeting, while another 77% will offer resources to support key financial decisions like mortgages, wills and income protection.

As we continue to return to a pre-pandemic work environment, these are just some ways employers can address employee well-being for a healthier and more engaged workforce.

Sam Slade is Managing Director, Employee Benefits, at The Hilb Group of New England, where he delivers consulting and brokerage services to local employers. He has extensive experience in all aspects of employee benefits, including underwriting, plan design, communications, compliance, and analytics, with a particular focus on alternative funding and self-insurance. Sam lives in South Kingstown with his wife and three sons.