By Pension and Benefits Editorial Staff
Some employers may find it challenging to find just the right mix of benefits to entice employees to enroll in benefits programs. Fortunately, there are a number of benefits programs that are on the rise that employers should consider offering their employees. Here are several of them:
Health savings accounts (HSAs). HSAs are accounts that allow employees to pay for numerous healthcare costs by contributing pre-tax monies through payroll deductions. These costs can include (to pay for expenses such as) co-pays, deductibles, prescription drugs, as well as vision and dental expenses. HSAs follow employees when they change jobs and earn tax-free interest. Plus, unused funds roll over from year to year.
Paid parental leave. This employee benefit is definitely more popular than it was years ago. Studies show a 10 percent increase in paid maternity leave in the last two decades. Adoption, fostering and surrogacy options are also on the rise. Progressive employers are adding parental leave benefits for employees, which has resulted in increased employee satisfaction and retention.
Fitness challenges/competitions. The past several years have seen an increase in employers offering company-organized fitness challenges and competitions. These promote overall well-being in a positive manner and keep employees engaged in their health. This perk offers incentives to remain healthy.
Standing desks. The ability to stand while working is one of the fastest rising employee benefits, with recent studies reporting long hours of sitting have been linked to diabetes, heart disease, obesity, and certain cancers. Employees are requesting standing desks in droves, and employers are responding in kind.
Flexible working options. There are several flexible working benefits that are promoting work/life balance and increasing employee engagement and productivity. Flex time, telecommuting, and shortened work weeks are popular options.
Dress-down Fridays. More and more employers are implementing casual dress, particularly one day a week on Fridays, with other employers offering a more casual work environment during the summer months. This has proven to be a boon to employee morale over the past several years.
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