Pacific Prime Group is excited to present its latest version of Global Employee Benefits Trends Report 2022. Now in its third edition, we continue to look at how the way we work is evolving and what employee benefits are expected from employers as countries gradually recover from the pandemic.
As the world changes, so do employee benefits. The pandemic has not merely accelerated many of the changes taking place in the workplace, in some cases it has fundamentally changed the course of things through a number of social, economic, and political forces.
About the Global Employee Benefits Trends Report
COVID-19 may have been with us for some time now, but the pandemic continues to leave ripple effects on different aspects of our lives. The report offers useful insight and clarity on where the human resources sector is headed.
By identifying the important trends shaping the employee benefits landscape and offering practical tips for HR professionals, the report aims to empower business leaders and HR professionals to make informed decisions, as well as to shed light on what’s in and what’s out in the sector for employees and interested readers.
In this article, we give a preview of what is covered. For more detailed and insightful analyses, download your free copy of our report today!
The five global employee benefits trends in 2022
For many, the pandemic has served as a giant wakeup call, causing them to question the value of many long-held notions about work, and see work in a new context wherein work is an essential part of life, but not life itself.
1. Employers are leaving no stone unturned in luring employees back to the office
After long spells of working from home and other forms of remote working, many employees have discovered that the joy of it does not come at a cost in productivity, and are thus hesitant to return to the office. From four-day work weeks to lunch subsidies and more, employers are offering lucrative incentives and doing what they can for a smooth return to the office, to get their employees to take the morning train again.
Amid the “Great Resignation”, employers have to double down on employee benefits to attract talent. Just what new tricks employers are pulling from their bags to attract and retain talent? Read our report to find out!
2. New HR tech is being deployed in the areas of employee monitoring
Gone are the days when the primary tools for employee monitoring were the fingerprint scanner and the surveillance camera. HR technology and tools are now better by leaps and bounds, to the point where AI and algorithms have become heavily involved in predicting, anticipating, and deciding what’s happening with employees – and this includes workplace surveillance.
What hasn’t changed is that workplace surveillance can create serious personal privacy concerns. In the report, we delve into the reasons employers are so keen to implement employee monitoring, and how employees feel about it. As you’ll see, effective employee monitoring requires a fine balance between deploying technologies on the one hand, and setting clear boundaries and effective communication with employees on the other.
3. Companies are adopting a holistic approach to employee benefits
As though the pandemic and the usual stressors of life were not enough, this year the world saw a major armed conflict send energy prices through the roof in Europe in particular. Rising inflation and the cost of living crisis have led to many employees becoming increasingly worried, to put it mildly.
At the same time, people are becoming increasingly aware of the mind-body connection, and supporting employee wellbeing in the workplace is now treated as a priority, not merely an afterthought the way it was just a decade ago. Many employers are now looking into benefits that are helpful not just to the physical health of employees, but also to their psychological wellbeing. In the report, we look at what measures employers have taken to support employee wellbeing in the workplace, and what more can be done.
4. Employers are taking Gen Z’s concerns about sustainability seriously
As employees belonging to Gen Z begin entering the workforce in droves, a good understanding of the Zen Z mindset, together with a sharing of their concerns and deep convictions, is no longer optional in today’s “war for talent”.
And many employers are discovering that green benefits are the answer, and thus are wasting no time in incorporating green initiatives into employee benefits offerings. Fortunately for employers, many green initiatives (such as carpooling, electric vehicles, paid volunteering days and more) are not too hard or costly to implement, and are in fact the same initiatives they would have taken to fulfill their corporate social responsibilities.
5. Companies are doing what they can to promote fairness and equality in the workplace
When more than 80% of employees consider their work environments to be unfair, employers are not doing themselves a favor by turning a blind eye to the problem. And while long-standing issues, like the gender wage gap, remain a barrier for female employees and thus fairness and equality in the workplace, new questions of fairness have sprung up in the remote work era.
In the report, we examine and illustrate:
- What is fairness and equality in the workplace, and why it is important
- The different layers of fairness and equality
- How employers can move towards an intersectional approach to diversity, equity, and inclusion (DEI) initiatives
- How to increase feelings of fairness and equality in the workplace
If you are interested in reinforcing the sense of belonging of your employees, this report is a must-read!
Download the Global Employee Benefits Trends Report 2022 for free today
If you think what you have read thus far is inspiring, wait till you have read our report. Not only does it examine the topics above in more detail, but it offers solutions and practical tips to help your organization move ahead. So download our report for FREE today!
We also encourage you to head to our Prime Guides page to access a wealth of insurance and employee benefits resources, and contact our Pacific Prime team for a FREE, no-obligation benefits consultation today!
Disclaimer: Pacific Prime solely represents, operates, and manages locally regulated insurance products and services in the territory of PR China. Any references to Pacific Prime Global Company or Group, the international services, insurance products, or otherwise stated written or verbally, is for introduction purposes about our overseas network only as each entity is fully independent.