Only employees, however, are eligible for benefits. MORE, See a few emerging trends that could impact employee benefits in 2019. Younger employees (aged 25 to 34) said extended paid leave, such as parental leave was most important. Clarity Benefit Solutions provides industry thought leadership and news to brokers, business owners, and partners. In addition, the survey aims to uncover perks that are most sought after by employees and have the highest impact on long-term job satisfaction. Your social media activity always remains private. Whether you use benefits to motivate, retain or recruit employees, understanding which ones matter most can help you build a better benefits strategy. MORE. Employers have the most to gain from offering employee benefit customization. Because this trend is not likely to go away anytime soon, employers smart enough to get on board will enjoy several benefits, such as: •    Increased loyalty—67% of baby boomers and 76% of millennials believe the ability to customize their benefits will increase their loyalty to their employer.2, •    Better employee retention rates— it’s not just one employer who loses out when an employee leaves, with the rise of contract and freelance work, it’s several. Benefits Administration Health Care Reform Human Capital Management Recognition ADP MORE, As employees make benefit selections, HR departments are already looking ahead to next year’s benefit offerings in order to retain their best employees through 2020 and beyond. Here are a few articles worth checking out: Could “Social Justice Benefits” Be the Newest Employment Trend? Independent contractors usually have the freedom to set their own hours and choose their own tasks whereas employees work the hours set by their employer and have little or no say in their assigned duties. With many now looking to retire on defined contribution (DC) pension schemes, the demand for meaningful initiatives that offer financial advice and guidance is also set to dominate employee schemes. In addition, the survey aims to uncover perks that are most sought after by employees and have the highest impact on long-term job satisfaction. Employees’ wants and needs continued to take center stage for employer benefits programs in 2018. After they turn 65, account holders can use HSA funds for any reason without penalty, although non-eligible expenses may incur taxes. So, what employee benefits trends can we expect to see in 2018? 7. Employees benefit by selecting what they want or need, and employers enjoy retaining control over what’s offered. Rachel is an accomplished serial entrepreneur with leadership experience that spans the full spectrum of strategic and tactical activities in the enterprise software technology industry, including being a co-founder of SaaSHR.com and Searchfeed.com. MORE, One of the trends we have identified in our 2018 HR Trends to Watch summary is that of the rise of employee benefits. Tim Mutrie leads ACI’s award-winning IT team in delivering next-generation engagement and benefits technology for customers worldwide. But, more than merely catering for younger employees, we will now start to see a more profound shift - a strategic change that is led by millennials. Earlier this year, SHRM released its 2017 Employee Benefits Report , and the results are clear: Employee benefits are hot, and employers are using them to get the people with skills they need. 4 big employee benefits trends for family planning. Employee share of the family premiums has remained in the 25% to 30% range over the last 20 years, which means that the employees’ share of the premiums has increased at a similar rate as the employer’s share. Benefits are an increasingly important factor in attracting and retaining top talent, and can play an important role in setting your company apart from competitors. The report gathered information on the types of benefits companies currently offer their employees or those they plan to offer in the next 12 months. Emotional health, family-friendly perks, and employee-benefit tech trends lead the way in new ways employers are broadening their benefits efforts to meet the changing demands of their workforce. It’s time to start building your organization’s employee benefits for 2020. . The president instructed federal agencies to develop rules that will require disclosure of actual hospital prices in consumer-friendly electronic form. Among large companies (40,000+ employees), 15% offered tuition repayment, up nearly 90% in one year. We anticipate the number of businesses introducing mental wellbeing initiatives to rise in our 2019 survey findings. According to TriNet, employees ranked flexible work hours as the most important nontraditional benefit. MORE. But they must also rise to the challenge of this new demographic as the health and wellbeing requirements of older employees may differ notably from those of their younger colleagues. To keep reading, click here: Top 5 Employee Benefits Trends of 2018. Staying up-to-date in any field often requires experts to attend conferences — and in the rapidly shifting field of employee benefits, it’s an imperative. The coronavirus pandemic has presented significant challenges for employers and highlighted the unprecedented levels of stress employees face in their everyday lives. Employees who score well across the board are more likely to be loyal, engaged and productive , according to the latest employee benefits research by MetLife. These generations are often unable to afford homes, start families and take other normal steps of life in their early career. HR trends forecast the most desired employee benefits for 2020 like pet perks, flex work and financial wellness programs. What you need to know about family-friendly employee benefits like fertility services, paid maternity leave and childcare assistance. Uncategorized employee benefit trends employee trends unique employee benefitsToday, four generations occupy the workplace at the same time. 3. Let’s look at some of the trends we see taking shape throughout 2020 and beyond. By viewing our content, you are accepting the use of cookies. Of course, many of today’s employers go above and beyond these “Big 3” benefits, offering a dizzying array of unusual perks and discretionary benefits to attract and retain talent. Benefits are top of mind with employees, as we have seen with our trends summary, especially those increasing financial wellness and work-life balance. MORE, As we ring in the new year and look forward to 2020, Employee Benefits will once again be a top focus for both businesses and employees alike. The 5 key trends shaping the future of employee benefits Employees are working to a greater age, while their attitudes, outlooks and expectations are changing. One of the trends we have identified in our 2018 HR Trends to Watch summary is that of the rise of employee benefits. So, offering benefits customization is a good place to start for companies looking to increase their employee retention rate.