Survey Finds Changes in Benefits Priorities
These are highlights of SHRM’s 2022 Benefits Survey.
Shuffling Priorities. The ranking order of benefits has returned to its pre-pandemic status, with health care and retirement benefits in the top two spots again. Overall, employers now consider that offering benefits is more important than ever.
Healthcare. Healthcare benefits continued to be viewed as the most important benefit, with 72% of employers offering fully insured health plans and 26% providing self-insured plans.
Telehealth and Mental Health Care. More companies are providing access to telehealth services (up from 62% to 93%) and mental health care (up from 86% to 91%) in their benefits package.
Financial Wellbeing. Employers are more focused on providing financial wellbeing, offering retirement and savings options, with 94% offering 401(k) plans and 83% matching employee contributions. Sixty-eight percent also offer a Roth 401(k).
Flexible Work Arrangements. Sixty-three percent of employers now offer a hybrid work solution; 63% said they subsidize equipment employees need to work from home, equating to an average of approximately $891.
Other Benefits. The percentage of employers offering paid maternity leave has declined since 2020, from 53% in 2020 to 35%, while paternity leave dropped from 44% to 27%. Family caregiving benefits also dropped slightly from 64% to 59%. On the other hand, more companies (78% now compared to 74% in 2020) are offering professional development benefits to help employees recover after the pandemic. But undergraduate or graduate tuition assistance dropped to 48% from 56% in 2019, and the percentage of companies offering student loan repayment assistance has declined to 7% from 8% in 2020.
For more information on employee benefits, contact INSURICA today.
Copyright © 2022 Smarts Publishing
About the Author
Share This Story
Related Blogs
Hot Work Hazard Prevention for Oil Field Workers
“Hot work” refers to any task that involves burning, welding, or the use of fire- or spark-producing tools, or actions that generate sources of ignition. On an oil job site, there are numerous potential hazards, including well heads, fuel tanks, mud tanks, tank batteries, gas separators, and oil treaters.
Cyber Attack Resilience in Oil and Gas
The energy sector is no stranger to a cyber attack. For many American families and businesses, the most personally disruptive incident in recent memory came in May 2021 with the ransomware attack that shut down the Colonial Pipeline, a major U.S. oil and gas pipeline responsible for supplying nearly half of the East Coast’s petroleum.
Considering the Risks of Wind Energy Projects
As the shift to alternative sources of energy continues to be a topic of utmost relevance, investments in wind energy have become increasingly prevalent. While the energy source receives a great deal of attention, it also entails a complicated combination of risks, both financial and commercial. If you are considering wind farms as a potential investment, take the following factors into account to ensure that you have an ample risk management plan for this complex and largely unexplored territory.