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Employee benefits after COVID-19: A five-year transformation
- Employee benefits saw immediate impact from COVID-19, with a focus on mental health and wellness resources.
- Investment in employee mental health drastically rose in importance and became destigmatized during the pandemic.
- Employers realized the value of benefits in talent retention and productivity during the Great Resignation.
- Focus on individual needs led to diversification of benefits, including financial wellbeing offerings.
- Benefits teams are increasingly personalizing offerings to meet specific employee needs and circumstances.
- Design and delivery of benefits have modernized to leverage tech for streamlined processes and improved connectivity.
- The shift post-COVID involves a drastic increase in portal usage for filing claims and educating employees on benefits.
- Future of employee benefits post-COVID involves simplifying processes, smart connectivity, and enhanced data-driven efficiencies.
- AI will play a critical role in hyperpersonalization of benefits, leveraging employee data and authoritative content.
- COVID-19 transformation has better prepared employers for evolving employee benefits and addressing changing workforce needs.
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