Five New Benefits and Perks Employers Will Tailor to Your Needs
The workforce of the future will be made up of a greater mix of employees of all ages as people live and work longer, economists project. As a result, companies competing for these workers are expected to offer more benefits tailored to needs at different stages of life.
Here’s a look ahead at evolving work perks and benefits in the coming decade.
Jennifer talks about five new benefits and perks that employers are expected to offer in the coming years to cater to the needs of a diverse workforce.
Stints and Sabbaticals: Employers are predicted to offer more options for work-abroad stints and sabbaticals, driven by the desire of millennials and Gen Zers for travel and life experiences. Companies may send teams to work from different locations to improve global collaboration. Some companies have already launched programs that allow employees to work from anywhere in the world for a certain period. Sabbaticals may also become more common, earned faster and offering a complete disconnection from work.
Daycare for Your Parents: As people live longer, employers are exploring ways to support workers who need to care for their aging parents. On-site care centers for the elderly are being discussed, and startups like Papa offer part-time vetted "pals" to assist with nonmedical care. However, a shortage of caregivers is expected to be a challenge in the future.
Hyper-Personalized Benefits: Traditional benefits packages are being replaced by customized benefits that meet employees' specific needs based on their location, age, and family situation. Online companies like Forma and Level help employers build personalized benefits plans, administer them, and ensure tax and legal compliance. Employees receive funds via a credit or debit card, and unauthorized purchases are blocked by AI systems.
On-site Counselor: Companies are recognizing the importance of mental health support for their employees. While many already offer subscriptions to online therapy platforms, the next step could be providing in-person, on-site counseling with therapists or coaches. This would give employees a venue to discuss work-related and personal issues. Privacy for counseling sessions at work could be achieved by embedding therapist offices within wellness centers or meditation rooms.
A Post-Parental Leave: With paid parental leave becoming more common, companies may add a transitional period at the end of the leave to help employees ease back into work. This could involve working part-time for a few days or having a staggered return schedule. The goal is to prevent employees from leaving completely after becoming parents and to support their work-life balance.
Overall, these new benefits and perks reflect the changing needs and expectations of the workforce, with a focus on work-life balance, personalization, and mental health support.