At a time when many employees and employers are under financial stress, some organizations are assisting them via various types of voluntary benefits, as suggested by new research from HR.com. Voluntary benefits can potentially also help improve the overall employee experience and address the problematic issue of work/life balance.
The free research report, Voluntary Benefits in Today’s Workplace, is now available for download. HR.com’s HR Research Institute partnered with InfoArmor, the market leader in employee identity protection, to conduct the survey of HR professionals from a broad cross-section of organizations.
It’s understandable amid today’s uncertain work environment, that voluntary benefits could help improve employees’ sense of security related to job, health, and finances, highlighting the importance right now of offerings like critical-illness insurance, financial counseling, and long-term care. The research reveals that the most common types of benefits offered include insurance plans for: life (83%), dental (77%), vision (76%), disability (75%), accident (58%), critical illness (51%), financial counseling (48%), and identity protection (39%).
More detailed investigation highlights the fact that organizations that view voluntary benefits as very important are about twice as likely to see employee engagement as a strategic value. Also employers are more likely to attract and retain employees and let their workforce benefit from a work/life balance if they recognize the importance of voluntary benefits programs.
“Especially in this time of crisis, it’s vital for employers to know where they stand with their compensation programs, including benefits. As employees are looking for security in their jobs and with their finances, companies will need to assess and evaluate their current benefits programs and reshape offerings to attract and retain talent,” stated Debbie McGrath, Chief Instigator and CEO of HR.com.
Download the full report and/or infographic which include additional strategic insights and key takeaways to help HR professionals and employers plan for the optimal benefits offerings that are essential to attracting and retaining the best talent.
InfoArmor is the industry leader in employee identity protection. They joined the Allstate Corporation family of companies in 2018 and collectively have 100 years of combined experience protecting what people care about most. InfoArmor provides identity and privacy protection to 3.5 million employees at more than 3,000 organizations — including around a third of the Fortune 500. If you’d like more information on how InfoArmor can help your organization protect its most valuable assets, please visit www.infoarmor.com.
About HR.com and the HR Research Institute
HR.com’s HR Research Institute helps HR departments keep their finger on the pulse of HR! HR.com is committed to creating inspired and informed workforces by maximizing the potential of HR professionals around the world. Over 1.75 million HR professionals rely on HR.com as the foremost, trusted industry resource for education, career development, and compliance (that many people can’t be wrong!). Offerings include the largest network of HR executives, leading-edge industry research from the HR Research Institute, 13 monthly HR-themed epublications, innovative HR education including 250+ annual webcasts, the most comprehensive HR certification exam preparation program supporting SHRM and HRCI certification, as well as helpful HR tools and legal compliance updates. HR.com has the largest knowledge base of HR practices globally and offers unparalleled training and networking for HR professionals all over the world… 24/7… 365 (just in case you can’t get enough HR). Visit www.hr.com/featuredresearch to download research (always free) and to maximize HR potential. #hrresearchinstitute