Why It's Imperative HR Should Focus on These Three Benefits

In today's employment landscape, the focus is shifting from higher pay to comprehensive benefits.

The 2023–2024 Aflac WorkForces Report reveals that 53% of employees are willing to choose a lower-paying job if it comes with a robust benefits package.

Sandy Kenslow, VP and Director of Small Group Benefits at Mylo, sheds light on the changing dynamics. Family planning benefits, covering the entire spectrum from preconception to menopause, are gaining prominence. Addressing holistic employee well-being, Kenslow underscores the intertwining of mental health and financial stability.

Survey data reveals compelling loyalty connections—61% feel more devoted to fertility benefits, 73%, and 81% are likely to stay with employers offering high-quality mental health resources, and 74% would switch jobs for better financial wellness benefits.

The crux? Kenslow emphasizes that even for smaller employers, the conventional medical, dental, and vision benefits are a baseline expectation. However, the key lies in identifying unique offerings that align with evolving employee needs.

Looking forward, Kenslow anticipates a rise in lifestyle spending accounts. These accounts, funded by employers, empower employees to tailor benefits to their specific needs, fostering a personalized and attractive work environment.

Addressing Diverse Needs

Partnering with a PEO goes beyond traditional medical, dental, and vision benefits. We acknowledge the growing importance of benefits related to family planning, mental health, and financial stability. By aligning with us, you can offer a holistic approach to employee well-being, addressing concerns from preconception to retirement.

As a PEO broker, I take a holistic approach when it comes to healthcare. We shop the "large group" master PEO options alongside the open market with creative solutions.

Future-ready Benefits:

As a forward-looking PEO broker, we anticipate the rising popularity of lifestyle spending accounts. This innovative benefit allows employers to contribute extra funds, giving employees flexibility in spending based on their individual needs. It's a cost-effective yet impactful addition to your benefits package.

We extend a helping hand to businesses eager to redefine their benefits landscape. We not only provide access to traditional benefits but also assist in crafting unique offerings that resonate with the modern workforce. The future holds exciting possibilities, with lifestyle spending accounts emerging as a valuable addition. Let's explore these possibilities together and elevate your employee benefits strategy.

What benefits do you consider essential in today's workplace? Share your insights and questions in the comments below. Let's engage in a conversation that transforms benefits into a tool for attracting, retaining, and engaging top talent.

Visit PEOfortheCEO.com to learn more.

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