More than any other event in history, the COVID-19 pandemic of 2020 underlined the necessity of employee benefits in the workplace. It was formerly considered a “frivolous” incentive, but it is today essential for hiring and retaining employees.
Employee benefits in the United Kingdom are divided into two categories: obligatory and supplemental life benefits. Employees’ opinions of the value of their services grow due to these benefits, as does their faith in their employers.
When comparing the findings of a poll of 750 UK employees with data from 2018, Cezanne HR, demonstrated this substantial pandemic impact as per their findings that can be seen in full at cezannehr.com/infographics/workplace-benefits/ . The following are some of the issues it poses.
What role has COVID-19 played on UK workplace benefits?
Companies’ spending on benefits reflects the importance of people in corporate performance, which the pandemic has highlighted. Rather than decreasing essential benefits, many companies are working to strengthen them.
Throughout the pandemic, more firms than ever before have prioritized their responsibility of care to employees, reducing the physical and mental health risks they face, whether at home or work.
The goals of employers have evolved to encompass mental health and financial stability. Better employee benefits help workers balance their holistic needs by addressing emotional, physical, social, economic, and environmental concerns that contribute to their overall happiness.
In comparison to 2018, which benefits are considered to be the most significant in 2021?
The pandemic effect has caused a significant shift in the emphasis on employee benefits. The 2018 low-placed benefits are now quite important. Below are some of the changes that have occurred.
Employees in the United Kingdom ranked increased leave as the most crucial benefit, believing it to be more critical now than it was in 2018.
Long-serving employees can take advantage of enhanced leave to accomplish something they wouldn’t be able to do on their usual yearly leave. The majority of employees believed that this benefit should be evaluated and prioritized.
Employees on the verge of job losses due to the pandemic and those lucky enough to maintain theirs had many difficult decisions about their mental and physical health.
Companies that cared about their employees’ well-being and mental health updated their enhanced leave benefits to reflect their interests.
Improved Healthcare Access
Healthcare was a high priority in 2018, but by 2021, it had fallen to second place; this was due to the pandemic and government-implemented interventions.
Despite the modest decrease, it is still deemed necessary as employees expect improved access to the NHS.
The National Health Service (NHS) is a publicly financed healthcare system in the United Kingdom that any citizen can use without paying the full cost of care. It sports the following objectives:
- Access to a doctor for medical advice, diagnosis, or treatment
- If you are unwell or injured, going to any hospital under NHS coverage for treatment
- Obtaining rapid help from the ambulance service’s medical staff
The increased incidence of infection, the difficulty of hospital admission, and rising expenses have all hampered easy access to the NHS.
Given the NHS’s current pressures and longer waiting times, a rising number of businesses are looking at private healthcare solutions to guarantee that their employees have rapid access to healthcare advice and treatment when they need it most.
Employers’ ratings are changing as a result of the altered priorities of their employees’ healthcare benefits.
Advancement of Employees careers
Career development was placed third in the recent research, coming in seventh place in the 2018 poll. This shift in priority might be attributed to work modifications to remote locations due to the pandemic.
Employees recognized a need for their companies to enhance this incentive since most of them found it difficult to adjust to working remotely.
Employers have begun to implement career development programs that link the organization’s ongoing training and development initiatives to workers’ professional aspirations. This professional development program is specifically suited to the firm’s goals and expectations.
Flexible work schedules
Flexible working schedules were not mentioned in the 2018 study, but employees added them to the benefits valued in the 2021 poll.
Flexible working is a work arrangement in which employees have discretion over how long, where, and when they work.
Flexible working habits include the following:
- Working part-time: Part-time employment is when an employer agrees to hire you for fewer than full-time hours.
- Term-time work means that someone is employed full-time but has the option of taking paid or unpaid time off during the school year.
- Part-time work in which two (or occasionally more) people share responsibilities for a job is known as job-sharing.
This benefit will gain traction as a result of the COVID pandemic’s modified work schedules.
Employees are the backbone of every business’s success. Inefficiencies and inability to thrive will result if companies fail to notice the improvements employees desire to their benefits system.
Adapting to the ever-changing employment realities is a must for employers.