Is it time for an employee benefits re-set?


Barry Byrne - Director, HR Recruitment

Image of fast moving cityscape at night

According to a recent survey conducted by MetLife, employees from a diverse range of business sectors are rapidly placing heightened importance on their employee benefits portfolio. Just over two-thirds of those surveyed (67%) cited a pandemic-related reason for the fresh focus on their total reward package.

Whilst the UK Government and the NHS prepare to mitigate a national mental health crisis, employers, from the FTSE 100 to rapidly growing start-ups, are working hard to develop a resilient benefits offering to employees that is both fit and relevant for the future.  

New environmental changes to the workplace and employees’ lives require employers to engage, understand and empathise with the abrupt shift in direction. Many high-profile employers, including Microsoft, have indicated it is time to re-set, adapt and invigorate the employee benefits offering. Significant focus is also being placed on wellbeing and how interventions can be deployed quickly with the right technology.

There is an opportunity for Reward teams and employee benefit providers to truly collaborate and help employees navigate the new normal. Identifying and adapting to the new demands placed on employees will undoubtedly play a critical role in the future health, engagement and retention of the workforce.

In the recent MMB (Mercer Marsh Benefits) Health Trends Survey, the fragility of current employee benefits systems was highlighted, many of which are paper-based and cannot be accessed or managed remotely.  The survey also found remaining gaps in mental health support, despite the increase in demand seen during the pandemic. For example, virtual mental health counselling is still not widespread, with only one-third of insurers offering it globally while 32% of insurers do not provide plans covering any mental health services.

Organisational wellbeing is deservedly reaching board agendas and the correlations between a well thought through employee benefits offering and stronger business performance, are similar to those achieved having a robust diversity and inclusion programme.  Healthier employees who feel supported and have access to a range of innovative digital health services are far better equipped to perform and contribute to organisational goals.

Unlocking the value of Employee Resource Groups

Unlocking the value of Employee Resource Groups

January 20, 2021

Employee Resource Groups (ERGs) have come a long way since 1970, when the first official corporate ERG was established by Joseph Wilson, former CEO of Xerox, in response to racial riots in New York. Today, Google has over 35000 employees actively engaged across 16 internal ERGs capturing an increasingly diverse range of communities including an ‘Inter Belief Network’ and ‘Disability Alliance’.
An interview with Cloudshift Group’s Benjamin Murray

An interview with Cloudshift Group’s Benjamin Murray

December 15, 2020

Jamie Miller discusses Cloudshift Group’s partnership with Salesforce and recent trends across marketing technology in an interview with Benjamin Murray, CMO at Cloudshift Group.
CMO strategies in a highly disrupted market

CMO strategies in a highly disrupted market

November 24, 2020

By their very nature, Chief Marketing Officers tend to welcome disruption, not to mention creativity and innovation, particularly if it is being driven by the talented team they have carefully built. But even for CMO’s who thrive in a complex and highly competitive marketing landscape, COVID 19 has produced a range of internal and external market complexities...
Experienced hires and looking beyond the CV

Experienced hires and looking beyond the CV

November 10, 2020

At Miller Byrne we encourage our clients, where possible, to look beyond the CV and dig a little deeper when objectively assessing candidates for an experienced HR or Marketing opportunity. We pride ourselves on developing long term relationships with our candidates and rigorously assessing them on your behalf, however, we additionally encourage deeper psychological assessment, particularly at exe

Stay connected. Keep informed.

Subscribe to our newsletter to receive our latest Insight articles and industry news directly to your inbox

Thank you! Your submission has been received.
Please check your inbox to confirm your subscription.
Oops! Something went wrong while submitting the form.

your browser is out of date!

We've noticed you're currently using an old version of IE.
This website has been designed using modern HTML code which is not compatible with Internet Explorer.

We really recommend you update your browser.