The ancient Greek philosopher Heraclitus described the change as the only constant in the universe. A constant that inspires, leads to innovation, reinvention and adaptation. 2,500 years later, today, change comes faster than ever thanks to the technology that surrounds us.
One of the areas where the effects of change can be seen most is that of Human Resources, through the employer-employee relationship and atmosphere that the first provides at work. Health insurance and bonuses on different occasions? Those are “so yesterday”. Current employees, many of them are representatives of the Millennial generation, want to be surrounded by innovation and creativity when it comes to the relationship with the employer. So if companies want to obtain loyalty, they must be open to new things and find new ways to retain the best employees.
Here’s how the trends look like in 2017:
Pluses for health insurance: mental health
Health insurance has become something we could say that is banal, simplistic, that is a minimum regarding such benefits. In fact, health insurance for employees is also the employer’s advantage. A new perspective in this aspect is related to mental health benefits.
It is understood that healthier employees are more productive, and that employers have a lot of alternatives for this: from subscriptions to fitness programs to fresh fruit at work. However, they may take into account the mental health and yoga classes or massages in the office, which began to gain ground on the lists of benefits employers.
Flexible working hours or unlimited leave for holidays
Employers should not be scared when they hear or read about it. They will not reach bankruptcy if they offer flexible working hours and employees will not stay in a permanent vacation. In reality, they have to work to support their “unlimited”vacations. Or you can follow the example of Epic Systems, the developer of medical software. They pay every four years an employee leave, plus a companion. And we are not talking about trivial holidays, but about holidays in places where they have wanted to reach out and they have not been able to afford.
Why would a company win if it spent so much on free time and even vacation pay? Employees would return refreshed, unstressed and perhaps with new cultural perspective that might help to do their job better.
Another example among the companies where the work program is relative is Netflix. Here, those who work hard love the liberty to leave when completing their tasks and so they work even more fiercely. So, the system implemented by the company works perfectly.
Benefits for employees’ families
Companies should begin to develop a “family-friendly” environment, with days such as “bring your child to work” or a flexible schedule with which to be able to deal actively with children.
With a pet at work
Such an environment will help create a better balance between work and personal life, believe many HR experts. The presence of pets in the office can reduce stress, encourage friendship between employees and even improve employee retention.
Even if this can’t be a permanent possibility, even one day a month where employees can bring their pet to the office will mean a lot to them. But bear in mind that some employees may have allergies and in order to avoid unpleasant situations, a set of rules will be welcome.
Only one thing is certain about the benefits for employees: they enjoy them, it makes them to feel privileged, but not all equally and not all of them fit all. As the labor market is in constant change and attracts valuable professionals and their retention is the main purpose of benefits, it is indicated that they can be customized and flexible. At the same time, employers must be able to review the packages of benefits that employees have chosen, as well as the costs they imply. Here, technology is helpful, making administration of benefits more flexible, the workforce becoming more motivated and the retaining of valuable employees more easy.
A good example of how technology is helping employee’s benefits customization is the Smartree Module MyStaff Flexible Benefits of Smartree that simplifies procedures for entering various employee benefit plans and ensure full transparency on costs.
Thus, attracting and retaining valuable employees is becoming easier, as long as employers are open to embrace change and, especially, anticipate desires that employees might have. In 2017, it’s the benefits, not a higher wage, that represents the company’s secret weapon. Higher salary can appear anytime. Flexible and customized benefits not.