7 innovative advantages to be taken into account by HR managers in 2022



During this historic labor shortage, often referred to as the Great Resignation, HR leaders are looking for ways to attract top talent. And they often turn to innovative services. Many are at least considering ideas outside the box that offer practical solutions to employee bigger problems.

Recently, Goldman Sachs grabbed the headlines for its rollout of new benefits designed to combat employee burnout. Others are also listening to employees, who say they need better health care, health and wellness benefits, financial welfare benefits, and child care.

The winners of the war for talent won’t just heed what employees are saying and take action. They will also think beyond the usual medical insurance and 401K benefits. These are not your parents’ benefits. Discover new ideas that are gaining ground:

Paid leave for miscarriage

One of the most notable new perks that Goldman Sachs has to offer is the ability for those who have had a miscarriage to take time off and get paid for it. A lot of women felt they couldn’t even be honest about having to take time off work for a miscarriage, so this is really cutting edge.

The point is, many experience the physical symptoms of a miscarriage, in addition to the emotional toll, which make labor nearly impossible. This type of advantage may attract women, who left the workforce en masse during the pandemic. It also shows empathy for workers, which is the key to successful leadership.

READ: The great resignation: how to get women back to work

Unlimited Paid Leave (PTO)

Many HR managers have talked about unlimited power take-off. But some are reluctant to accept this advantage. They fear that employees will take advantage and that absenteeism, perhaps even during peak periods when deadlines have to be met, will become a problem.

However, some employees have used the pandemic to win the argument for unlimited paid time off. After all, productivity increased as employees worked from home and had more freedom over their schedules.

For example, Eric Brotman, president and CEO of Brotman Financial Group, Inc., was not sold on unlimited paid time off, so his organization offers Responsible Paid Time Off (RPTO). Technically, Brotman writes in Forbes, it’s unlimited but with a caveat.

They need to check with their team to make sure someone covers all the tasks that can be done, and no one can take advantage of the policy to become an absent employee while collecting a paycheck, ”he wrote.

Leave without pay

Unpaid leave doesn’t seem to be the biggest benefit, especially at a time when many families are financially vulnerable. However, some companies offer unpaid leave or sabbaticals. The idea is to give people the ability to take the time they need without having to worry about losing their jobs.

Goldman Sachs has included an unpaid six-week sabbatical among its new offerings. People can use this time to recharge their batteries, be with family, or pursue other interests. Employees who cannot miss paychecks do not have to use this benefit.

Pay on demand

Many Americans couldn’t afford a $ 400 emergency, and they sometimes turn to high-interest payday loan services to help them make ends meet. It can be financially devastating. Thus, employers respond with pay-as-you-go. They partner with third-party platforms to give employees access to the money they’ve earned before their allotted payday.

While some low-risk companies are taking a wait-and-see approach to pay-on-demand, many believe it will become the norm in the near future. Once payroll technology catches up with the trend, employers will likely embrace this employee-preferred payment structure. The odd-job economy also makes this more feasible, as these workers are often paid immediately after performing a task or service.

READ: Win the recruiting war with pay on demand

Benefits for financial well-being

The benefits of financial wellness include financial coaching, student loan assistance, emergency savings and financial planning, in addition to the more traditional 401K options, according to CNBC. More than 40% of employers who responded to the Bank of America’s Workplace Benefits report said they’ve added or improved benefits to help employees deal with financial stress since the onset of the pandemic.

An example of this type of financial welfare benefit is using the Internal Revenue Service’s option to make employee 401K contributions matched with the payment they make for student loans, Brotman writes in his column. Forbes. Others offer financial consultants to help employees plan for the future or for big expenses like a house or having a baby.

Sustainable travel rewards

Employees, especially Millennials and Gen Z, demand that employers do more than talk about issues like climate change. Providing sustainable travel rewards meets employee needs while addressing environmental concerns.

Employees are being rewarded for choosing to travel for the holidays in more sustainable ways, according to Forbes. So instead of traveling by plane, you would take a train to your final destination. And your employer would reward you with extra PTO.

Works

Remote working gives people the ability to work from anywhere. As a result, some companies are offering employees the option to work remotely in overseas destinations, according to Forbes. Amazon has already announced that its employees will be able to work remotely for up to one month per year.

“We also know that many people have found the ability to work remotely from a different location for a few weeks both inspiring and invigorating,” Andy Jassy, ​​CEO of Amazon, wrote to employees. “We want to support this flexibility and will continue to offer company employees, who can work effectively outside the office, the ability to work for up to four weeks per year entirely remotely from any location in your country. employment. “

These innovative benefits are just the start of a transition to a more employee-centric work structure. HR managers are navigating a whole new world, and these types of benefits meet employee needs while transforming the idea of ​​benefits.

What new benefits are you offering to your employees? What do you think of these latest trends? Let us know on LinkedIn or Twitter.

photo by Polina Zimmerman for Pexels



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