You hear it everyday, “the world is changing.” But what does that mean? What hard numbers can employers look to to better understand new trends of this changing world? One statistic that companies are paying closer and closer attention to is that Millennials are already the largest generation in the U.S. workforce and by 2020 they will make up nearly half of it. So what does this mean for companies? For starters, it means constructing a new employee benefits program. Specifically one that appeals to this new, surging group of young people who are now, also, quickly becoming new, young parents.
The centerpiece for any new benefits program needs to paid maternity/paternity leave. The truth has been out for some time now, America is the only major industrial country without paid leave and expecting families aren’t happy. While politicians spend their time debating the topic, companies need to begin constructing an appealing paid leave program now.
Another rising trend in employee benefits is wellness programs. On-site massage therapy, lifestyle coaching, even incentives and bonuses for employees who participate in workplace health assessments. Companies are finding that healthier workers are happier, more productive, and at times even helping to lower healthcare costs. The results are in, new benefits programs can’t just benefit people’s wallets, they need to benefit their health too.
Physical fitness isn’t the only focus of modern benefits programs, companies are also beginning to help their employees keep their finances in shape as well by offering an array of resources to help them manage and invest their money. Remember, the coming work force grew up in the shadow of the financial crisis, what could be more reassuring, and appealing, than a company that will protect them from the very pitfalls that put them – and their parents – in debt in the early part of the century.
The world will continue to change, and at a speed where you can’t afford to wait. Please contact us to get beginning constructing your employee benefits program today.