The 2020 survey revealed some very interesting trends in regards to overall benefits where the more personal and softer benefits are on the rise and the traditional health and medical benefits have remained at their traditionally high levels. Some interesting highlights in the family-friendly benefits category show Domestic Partnership benefits increasing to an all-time high of 69%, along with Telecommuting benefits rising to 65% participation levels and Sabbaticals, although not yet mainstream, increase to a meaningful level of 19%.
In the healthcare area it was interesting to see that even prior to the Coronavirus outbreak globally, Telemedicine benefits have skyrocketed to 74% up from 24% in 2015. This lends credence to the fact that our workforce and caregivers continue to be more mobile and more technologically advanced, opening doors to new and convenient ways to stay on top of one’s overall health and well-being.
In the Training, Education, and Personal services category the influence of the millennial population has given greater rise to free services like snack offerings and internship programs, rising to 60% and 66% respectively.
In the Financial and Income Security category of benefits, traditional benefits such as Life insurance, 401k, and Long Term disability have remained consistently high contrasted to previous surveys. However, there is an increase in expanded services such as pet care and insurance rising to 30%, with 88% of agencies with 300 employees or more offering this service.
In the Recognition and Awards category, we continue to see a rise in formal and informal awards to an 83% adoption rate.
Lastly, we are seeing what used to be new services enter the mainstream a few years ago start to gain broader adoption levels spanning from yoga, expanded bereavement categories beyond immediate family to standing desks and executive coaching, which was thought to be just for executives, now expanding agency-wide in some cases.
For more information or to order a copy of this survey report, please contact Helen Miranda at [email protected].