Companies are providing a wider range of unique and creative benefits to their employees in 2012, with available services ranging from discounted jewelry to pet insurance, reduced funeral planning costs, cancer insurance and even meditation services at the desk.
These additional benefits are arriving at a time when employers are trying to keep their workers content in their workplaces despite the higher workloads, pay cuts, reductions in matches for 401(k), and higher costs for health insurance.
According to managing director John Breman, from the employer consultancy, Towers Watson, businesses are attempting to make it feel as though there is not a great deal being removed from their employees. He explained that “They are trying to find ways to appeal to the workforce.”
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Many additional voluntary benefits – such as pet insurance that is cheaper due to a group-buying discount, or reduced price computers – won’t take too much away from a company’s overall budget.
According to MetLife national medical director, Ronald Leopold, employers are recognizing that they aren’t always able to offer benefits packages that they were capable of providing in the past. He added that these same employers would still like to be able to provide employees with a wide range of choices and services.
They want to make sure that their employees – who have already lost a great deal and who are seeing much larger workloads – feel as though the company values them, and they want to do what they can to help those harried workers to be able to balance their professional and personal lives.