The latest benefits to market
Products and services that support employee health, sustainability and finances
"The findings in this report reflect a much broader social change that has been happening across the world, but particularly within the UK workforce over the last five to ten years. The way people think about work, how they value work and why they work has shifted significantly. In fact, according to a recent study, people in the UK are now the least likely in the world to say that work is an important part of their life. Employees are reporting that their wellbeing is worse than it’s ever been, and they feel increasingly unhappy about work.
For many, it feels as though the traditional deal between employer and employee is breaking down. People used to believe that if they worked hard they would get rewarded and this would enable them to do the things they valued – like going on holiday, buying a house and enjoying a certain standard of living. But over the last few years, this has stopped being the case.
People are working hard, putting in longer hours, and operating under more pressure, but they’re struggling to pay their bills. Millions of younger workers have no realistic prospect of buying a property and many are slipping into debt.
At the same time, there is a growing trend where people are no longer willing to continue in jobs where they feel stressed and burnt out. The number of people who are leaving their jobs without another role to go to is on the rise, and the system itself is in danger of crashing.
Together, this melting pot of issues is causing a huge issue for employers. And the vast majority now recognise benefits as a clear way to respond effectively. Here we share four of the latest benefits helping employers deliver that much-needed support.” Gethin Nadin Chief Innovation Officer, Benefex
The ONS forecasts that by 2024, more employees will have an elderly person dependent on them than a child in the UK; with this figure increasing in future decades – 72% of employees think caregiving will affect their working life in future.
We launched Seniorcare by Lottie to help our customers tackle an increasingly prevalent personal issue by partnering with the UK’s leading eldercare experts. A fully employer-funded solution with multiple plan levels, employees get advice from experts, self-serve support materials, unique discounts with some of Lottie’s providers, and manager resources.
The menopause affects people differently and impacts those around them. In fact, around one in 10 people have quit their jobs and an estimated 14 million working days are lost every year due to the menopause.
More and more organisations are starting to offer menopause benefits to support women in the workplace. Bupa’s menopause plan has been specifically designed to empower people to seek advice, chase treatment and to take control of their health. The plan provides 12 months of invaluable support with a GP specially trained in menopause.
Tree planting by Furthr
More companies and individuals are becoming aware of their climate impact and many employers have sustainability goals – such as B Corp status and reducing their carbon emissions. Furthr helps workforces have a positive climate impact. This benefit gets employees to personal carbon-neutral and beyond. Benefex OneHub users get access to affordable plans with Furthr which contributes to planting trees, reducing carbon emissions, and having a positive climate impact. As part of Benefex’s ‘Trees with Benefits’ scheme, for every benefit selection through the Benefex marketplace, Furthr will plant a tree in a dedicated reforestation area in Nepal.
Employees are still facing off to the cost-of-living crisis and want access to more affordable ways of purchasing goods such as technology, iPads, mobiles, and laptops. Buying these through salary sacrifice not only gives employees NI savings, but they can also spread the cost (interest free) over 12 months. This is an anytime benefit that employees can select whenever they want (unless they already have an existing 12-month commitment).
