HOW Benefits Work Together TO ATTRACT & RETAIN HAPPY EMPLOYEES4 layers of protection cover mind, body, and finances
Required benefits that ENSURE compliance with laws
if your employees get hurt or become sick due to their job.
if your employee involuntarily loses their job.
SOCIAL SECURITY AND MEDICARE PAYMENTS
that share costs with your employees.
to help cover doctor bills and other and medical expenses.
if you need to take unpaid time off for health- or family-related reasons.
Expected benefits that ENHANCE wellbeing
About 90% of employers with 500 or more employees and about 50% with any number of employees offer dental benefits.
87% of employees say they are likely to stay with an employer that offers high-quality vision benefits.
MENTAL HEALTH COVERAGE
73% of U.S. workers want mental health coverage.
25% of all 20-year-olds will become disabled and unable to work sometime before reaching the age of 67.
HEALTH SPENDING ACCOUNTS
According to the Bureau of Labor and Statistics, employee access rose from 36% in 2012 to 43% in 2021.
52% of employers offer a 401(k) or similar type of retirement plan.
Aside from employer-paid basic life, more employees are considering voluntary life insurance in the wake of COVID-19.
Flexible benefits that ENRICH work-life balance
REMOTE WORK ARRANGEMENT
70% of employees prefer to work remotely.
FLEXIBLE WORK SCHEDULES
8 out of 10 workers say a flexible work schedule is important.
At least 70% of Gen Z and Millennials say it’s key to staying or leaving a job.
DEPENDENT CARE ACCOUNTS
A care.com survey reports 56% of employers offer child care benefits.
53% of employers offered more on-demand fitness options.
Extra benefits that ELEVATE job satisfaction
86% of workers who say their employer offers tuition benefits are generally happy at their job.
LEARNING AND DEVELOPMENT
57% of workers are interested in upskilling opportunities.
About 70% of employees say it’s important or very important to work for a company that supports giving and volunteering.
STOCK PURCHASE PLANS
According to Morgan Stanley “The State of Equity Plan Management in 2022”, 43% of public companies and 35% of private companies provide this benefit.
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This material has been prepared for informational purposes only. BRP Group, Inc. and its affiliates, do not provide tax, legal or accounting advice. Please consult with your own tax, legal or accounting professionals before engaging in any transaction.