Brought to you by the insurance professionals at Hoffman Insurance Group, LLC
As we start a new year, how are you feeling? This is an important question to consider since wellness will continue to be a huge factor for companies in 2020.
Wellness is a hotly debated topic, but it’s certainly not going anywhere in the coming year. In fact, 76% of employees think their workplace has a responsibility for their health and well-being, according to a MetLife survey. And according to Gallup, 87% of employees expect their company to help them balance their work and personal lives. These statistics underscore the inter-connectivity between well-being and engagement, and show how much employees expect their workplaces to commit to their wellness.
With these expectations in mind, here are five popular employee wellness trends to look out for in 2020:
1. Holistic Plan Designs
One way employers are investing in wellness is through more holistic plan designs. These are benefits plans that help address all aspects of the body and mind, as opposed to just the former. These plans include access to mental health professionals and assistance for dealing with stress and depression. Companies using this method are focusing more on metrics like employee satisfaction and retention than one-size-fits-all health plans. According to MetLife, 55% of employees would be more interested in working for a company with access to these benefits.
2. Tailored Health Portals
Many employees use the internet for researching and coordinating their health care. Oftentimes, this is done through point solutions (e.g., websites or applications that deal with a specific focus, like managing diabetes), which require employees to reenter their personal information into multiple sites. Employers are now moving away from point solutions, opting instead for tailored platforms. These platforms house employee data and offer access to a variety of health solutions. From such a portal, employees could locate a doctor, research a condition or review their health plan coverages all in the same place. Depending on the platform, employers can work with vendors to include solutions based on their employees’ unique needs.
3. Social Enrichment Programs
A common thread in workplace surveys for years has been the employee’s desire for meaningful work—people want what they do to matter. This isn’t always easy, depending on the line of work, so employers are offering ways to give back. Some companies partner with nonprofit organizations to help fundraise, and others provide an allotment of paid “volunteer days” for employees to use throughout the year. Regardless of the approach, your commitment to social enrichment is what matters to employees.
4. Financial Wellness Resources
Many organizations employ a diverse cast of employees—some may be nearing retirement, and others may be finishing school. This means employees can often face unique financial stressors from one another. To combat this, some employers offer financial wellness programs to help reduce these stressors. These programs vary in complexity but can include personal financial planning meetings, tuition reimbursement, seminars and payday loan assistance. The idea is to offer enough services for anyone in your workforce to take advantage of, no matter their financial situation.
5. Artificial Intelligence
Artificial intelligence (AI) has been around for years, and we’re seeing it weave deeper into the fabric of the workplace.
For example, employers can use AI to:
- Help employees choose the right benefits plans based on their lifestyle.
- Track complex data like engagement and performance.
- Monitor abstract trends.
Wherever 2020 leads, you can guarantee AI will be there.
If you want to hold on to your employees and attract new ones, consider investing in your wellness programs in 2020. First, evaluate your current initiatives, then think about ways to improve them. Be sure to reach out to employees and see what they find most valuable.
Speak with Hoffman Insurance Group, LLC for more wellness program ideas or for ways to get started.