There are many aspects of work and life that were fundamentally altered by the recent pandemic, and that includes what workers value in terms of the benefits their employers extend to them. With that in mind, many of the benefits offerings that may have been "nice to have" as recently as early 2020 are now seen as highly important to workers' comfort in their roles and overall job satisfaction.
While no two companies are the same in terms of their offering or what their unique sets of employees prefer, there are some overall prevailing trends for employers to keep an eye on in the months ahead. The following are just some of the most pressing benefits issues your company may need to address:
The option for significant remote work
For millions of Americans, the pandemic made it obvious that they don't need to get dressed up, put the kids in daycare and commute for hours back and forth from work to get their jobs done effectively, according to Bloomberg. As such, almost 2 in 5 workers in a recent Bloomberg poll said that they would consider quitting if their companies didn't increase flexibility around remote work — and that number rises to nearly half among millennials and members of Generation Z (sometimes called "zoomers"). For 84%, not having to commute was seen as a major perk, and three-quarters cited the ability to save money.
Upskilling and advancement
With a growing reliance on tech in just about every industry these days, and the general sense that people want to move up in their careers, it's vital for companies to offer upskilling and internal advancement opportunities to employees who want them. The latest Pulse of the American Worker Survey: Post-Pandemic Work & Life from Prudential confirmed this: Indeed, 46% of respondents said they feel they will have to learn new skills in 2021 to keep doing their current jobs, and 43% are worried about their financial security if they don't.
Currently, 40% of respondents say they receive almost no skills development opportunities while at the office, prompting nearly half to say they are rethinking whether they want to keep their current jobs in the first place.
It's about more than just pay
Of course, most workers want to be paid more for doing the same work, but pay isn't necessarily the most important thing all people are looking for from their jobs, according to the latest Voice of the Blue-Collar Worker survey from EmployBridge. For instance, 68% of respondents said they would have to earn at least $2 more per hour to actually switch jobs. At the same time, workers cited job security and scheduling flexibility or preference as being highly important to their job satisfaction. Both can help ensure your workers stick around for potentially years to come.
To meet all these goals, you may need to strategize more effectively and align human resources professionals — and YES Partners can help with that. To see some of the roles that we have already successfully placed, click here.
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