The last couple of years have been challenging. Companies both large and small have had to navigate a constantly changing environment with health restrictions, logistical and supply chain issues, and rising inflation. On top of these factors, employers have had to address changes in workforce trends, including a more competitive hiring market, shifting employee priorities and burnout.
At the end of 2021, nearly 40% of employees worked from home full or part-time, which is nearly a 4 times increase over pre-pandemic levels. Evidence seems to indicate that flexibility in where and when you work continues to be top in mind for current and future employees. According to a recent survey, the flexibility to work from home or have a hybrid schedule is the second most important consideration for employees. Only salary was cited more.
At the same time, employees are also looking for greater support and access to health and wellness resources from their employers. Recent studies out of the United States have found that nearly 60% of employees want benefits that their employers do not offer. More than ever, they are looking for support for all aspects of their wellness including health, mental health, and financial security.
Addressing employees needs and wants is more important than ever in remaining competitive in the hiring market and ensuring that your team is their healthiest and most productive selves.
Employees are already facing significant health, wellness, and financial challenges as the result of the last 2 years. A recent Manulife Wellness Report has noted that more than 40% of Canadians are dealing with multiple health risk factors, with nearly the same amount being at increased risk due to reduced physical activity. Financially, nearly 60% of employees worry about their financial security moving forward.
Health and financial concerns have combined to impact not only your employee’s general wellbeing but also their productivity at work. Almost ¾ of Canadians are reporting musculoskeletal conditions and 24% say that these conditions have affected the ability and productivity at work. Similarly, over a ¼ of Canadians report feeling distracted about financial considerations while they are supposed to be working.
Overall, it is estimated more than 15% of work hours are lost due to distraction and absence because of employee health and wellness issues.
How can I help?
Providing your employees with simple, flexible, and affordable group benefits is a great way to ensure a healthy and happy workforce. Recent reports from Microsoft Corp. found that half of Canadian workers now prioritize their health and wellbeing over work and career development. More than ever, providing the support and flexibility that your employees want is key to ensuring a happy, healthy, and productive team.
The BeniPlus Wallet is a simple and affordable way to ensure that you can provide your employees with the health, wellness, and financial benefits that they need. Our system allows employers to provide health benefits to their team through our Healthcare Spending Account (HSA). On top of the HSA, employers can also choose to allow employees to divide their coverage between eligible options including Wellness Spending Accounts (WSA), Registered Retirement Savings Accounts (RRSP), Personal Insurance and Charitable Giving.
Our system allows the employer to determine the maximum amount of coverage they would like to provide. There are no set up fees, hidden fees, or premiums, and costs will not go up. You only ever pay the cost of eligible claims plus a small 7.5% administration fee. If you or your employees do not make any claims then you pay nothing.
The BeniPlus Wallet is also great for your team. Our flexible system means that they can choose how to divide their benefits between their various Wallet options. If they have limited medical or health expenses, they can choose to devote a higher percentage of their benefits to wellness, saving for retirement, or even donate it to one of their favorite charities. You never have to worry about paying for benefits your employees do not want or need. Plus, there are no co-pays.
Now is the time to invest in your team, their health and your company’s productivity by providing simple, flexible, and affordable group benefits.
For more information about the BeniPlus Wallet visit our website or Get a Quote today!