46% of staff have reappraised the value of benefits due to Covid-19

46% of staff believe Covid-19 has made them reappraise employee benefits

Just under half (46%) of employees say that the Covid-19 (Coronavirus) pandemic has made them reappraise the value of the benefits their employer offers when deciding to stay with or join a new employer, according to research by Maxis Global Benefits Network (Maxis GBN).

Its Maxis GBN global perspectives: Covid-19 and the future of employee benefits report, which surveyed senior executives and 1,000 employees in 10 countries, also found that 33% want their employer to prioritise health over lifestyle benefits. In addition, approximately one-fifth (21%) want greater access to wellness support.

The research also found that 15% expect to see an increase in the benefits they are offered following the Coronavirus pandemic, while 10% believe that the pandemic has exposed a lack of suitable benefits offered by their employer. In addition, 18% of employee respondents said communication of benefits was an issue, with their employer failing to keep them informed of relevant benefits during the pandemic.  This increased to 33% among employees in the UK and 31% in both the US and Hong Kong.

Around three-quarters (74%) of respondents would support an auto-enrolment scheme for protection benefits.

Mattieu Rouot, chief executive at Maxis GBN, said: “Health and wellness solutions were a part of many employee benefits programmes well before the pandemic, but the crisis has meant that a health and wellness offering can no longer be a nice-to-have initiative. It is vital for attracting and retaining employees. Many employers had programmes in place that have demonstrated their value in protecting and caring for their employees this year.

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“There is now an opportunity for employers to find new ways to meet the demand in health and wellness benefits. For example, innovative digital wellness solutions have been in high demand throughout the crisis and, for many, will become an integral part of their employee benefits programmes.

“Globally, employees have been asking for more flexibility in their benefits for some time. Employers need to create programmes that work for individuals, as benefits that are appropriate in one country will not necessarily be so in another. Also, benefits that are attractive to older employees will not necessarily engage younger staff. We believe the pandemic will increase this need and that a one-size-fits-all benefits model will no longer work for employees that are looking for relevant, sophisticated and suitable benefits.”