The huge importance levels attached with employee benefits in 2021. This is all part of the employee benefits program and part of employee packages. It will give employees all over the world the aim to work with commitment and show higher levels of determination. It also is vital in raising the employee sense of ownership and the loyalty aspects. Loyalty at the workplace is not only significant due to work sustenance. However, it is also a huge reliance in moving forward together. Hence, towards the employer the level of reliance is aligned at higher levels. More importantly, as benefits always helps in creating better rapport at work. The notion is to give the employees a bigger vision for future. Especially, in terms of career goals and an attitude at work.
EMPLOYEE BENEFITS FOR 2021- A NEW VISION AT WORK:
THE FINANCIAL WELLNESS PROGRAMS:
Guaranteeing financial wellness through a financial wellness program. Provided in the year 2021, these are one of the planned benefits. The financial wellness programs also comes in variety. However, similar programs like money moves is something that recognises that every individual experiences a different kind of financial stress. Hence, it harnesses machine learning to guide employees to the information needed most.
FLEXIBLE WORK ARRANGEMENTS:
The benefit of flexible work arrangements is a benefit associated with the modern day issue, i.e. the Pandemic COVID-19. The flexible work arrangements ironically relates to working from home scenarios in case of lock downs due to pandemic. A special benefit especially for those who work mainly online and enjoy the flexibility of work from home. Initially, it was found to be a scenario difficult to adapt. However, later the results were very affirmative in terms of finding flexible work arrangements more suitable.
According to a survey, a huge 65% of people who enjoyed working from home enjoyed it at very higher levels. They enjoyed it to such extent that they preferred working from home even after the lock-down was over.
HEALTH INSURANCE BENEFITS:
The health insurance is one of the most popular benefits provided by companies. These relate specifically to the nature of work and how the insurance varies in terms of the benefits provided. In some companies the nature of work revolves around HAS, i.e. health & Safety procedures, therefore, the benefits includes disability insurance in addition to health insurance benefits depending upon the amount of risk involved. However, in the year 2021 many companies shall be coming up with flexible benefits programs. More importantly, most companies in North America shall be providing health insurance benefits. This is especially due to the change in circumstances due to Pandemic COVID-19.
MENTAL HEALTH BENEFITS:
Another significant part of the benefits program are the mental health benefits. Many people all across the world, especially the countries suffering from COVID-19. Obviously, the most affected ones are the countries that have undergone issues of mental health. Examples includes, stress, anxiety, loneliness and boredom factors. However, in 2021, mental health benefits will commonly solve the problems for many people. Ironically, these are people who are still undergoing some major or minor mental health issues.
A huge 1 in 4 employees, i.e. 25% have been diagnosed with issues of depression. In addition to this, a huge 45% of them take an average of 10 days off work each year. This is in most cases due to their mental illness according to the American Psychiatric Association (APA).
SOCIAL RESPONSIBILITY BENEFITS:
Associated with company’s or the employer’s CSR values are the CSR or ‘Corporate Social Responsibility’ benefits. An example of social issues includes racism and climate change, more importantly racism at the workplace. Companies CSR programs or Corporate social responsibility programs includes social issue marketing. Furthermore, philanthropic efforts, employee volunteer initiatives, and finally diversity and inclusion work.
These benefits helps a great deal in maintaining discipline at the work place. Also, creating equal opportunities for everyone irrespective of caste, creed, colour or race.