14 days ago by Leanne Scaletta

Employee Benefits Trends 2022

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​In case you’ve been living in a cave for the last 18 months, the pandemic has revolutionised the way we work. But whereas 2020/21 were years of uncertainty and chaos, 2022 will be about embedding change and discovering best practice.

Nowhere is that truer than employee benefits.

HR and leadership teams across the globe are investing in their benefits programmes but getting it wrong can be costly. So, what options do you have?

Key Trends

The most significant shift is how we view benefits full stop. As we’ve spent significant parts of the last 2 years working from home, employees have had ample time to review their personal situations and put their wellbeing front and centre. They know what they want and aren’t afraid to ask for it.

Cue businesses treating people as individuals. In a candidate-short market (which we expect to continue into 2022) retaining your current employees is essential, and a tried and tested way to do so is to offer genuinely useful benefits. But that doesn’t look the same for everyone.

Companies who take a holistic approach to their benefits programmes are seeing happier and more productive employees than their competitors. Why? Because they have adapted from managing the employee experience to managing the overall life experience of their employees.

Larger corporations and SMEs alike are overhauling their benefits programmes, removing bureaucracy to increase adoption. Bespoke offerings, run on a self-service system, are key to increasing take up and make company benefits accessible to all. Platforms such as Worklife are especially popular, allowing employees to manage their perks in one place.

Perkbox surveyed over 1,500 UK based employees in 2021 asking what benefits they’d like to see in their businesses. Interestingly, when asked what would make them happier in the workplace, the proposed benefits weren’t tied to an office environment. Further insight into the agile mentality of most UK professionals. Instead, people stated lifestyle related discounts, greater recognition for their work and an increase in holiday allowance as their top 3 benefits.

Whilst there are many businesses declaring that they will invest more in employee benefits (44% according to Perkbox), particularly around mental wellbeing, this Gartner survey found that more than a third (34%) are having their overall HR budgets cut. This seems to be almost exclusively from their L&D budget (27%) – something we would strongly advise against as it’s a great way to improve employee engagement. However, the investment in D&I initiatives remains strong, with only 9% of respondents saying they will scale back their spend and 45% planning to increase budgets in this area.

Looking for inspiration?

If you’re looking to enhance your benefits offering but aren’t sure of what’s out there, then read on. We’ve pulled together a list of benefits we’ve seen our clients and others offering their employees.

Family

  • Elder care

  • Childcare – including on-site and emergency options like outdoor retailer Patagonia offer

  • Pawternity leave as offered by businesses such as BoxPark and Brewdog

  • Update family leave policies – do you offer adoption leave?Bereavement leave? Miscarriage leave? Fertility leave? Could you extend parental leave?

  • Will writing service

Flexible Working

Download our ‘The Future is Flex’ paper for more insights.

  • Work from anywhere

  • Self-manage own hours

  • Flexitime

  • 4-day week

  • Job share

  • Unlimited holidays – big brands such as Netflix and Virgin offer this perk

  • Early finish on Fridays

  • Reduced hours over the summer a la Kelloggs

 Physical

  • Menopause leave such as at fashion retailer Asos

  • Private health insurance

  • Increased paid sick leave allowance

  • Medical cash plans

  • Nutritionist/dietician

  • Online GP services

  • Paid time off for appointments

  • Virtual gym/yoga classes

  • Discounted gym memberships

  • Onsite gym facilities

  • Free personal trainer

  • Walk and talk meetings

  • Meal prep deliveries to replace a traditional canteen

  • Snack box deliveries

Mental

  • Counselling and therapy sessions

  • Mental health / duvet days

  • Company shut down for an entire week (Made famous by Bumble and adopted by other big names such as LinkedIn, Hootsuite, and Nike)

  • Mindfulness & meditation sessions

  • Free access to sleep apps

  • Resilience training

  • Wellbeing webinars

  • Mental health first aiders at work

  • Employee Assistance Programmes

  • No Meeting or No Email days – made popular by Facebook and Shopify among others

Financial

  • Starting or ‘signing on’ bonus

  • Relocation package

  • Personal loans

  • Base salary increases

  • Performance related bonus

  • Values/behaviours related bonus

  • Free financial advisor

  • Free budgeting tools

  • Pension

  • Retail and entertainment discounts

  • Bills contributions for home workers

  • Home office set up allowance

  • Subsidised commute costs

  • Salary sacrifice purchase schemes for cars, bikes, technological devices etc.

Social

  • Operate volunteering programs

  • Monthly social budget for events

  • Team trips or holidays

  • 'Pub’ quizzes and trivia nights

  • Corporate-sponsored sports teams

  • Team lunches / breakfasts

  • Social clubs – cooking, books, films, running etc.

Source: Worklife Small Business Monitor Report

If you're looking for bespoke advice around talent attraction, retention or other elements of the employee lifecycle, our expert team can help. Simply contact hello@weareadam.com or call 0161 359 3789 to speak to one of our consultants today.

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