Check out these rewards and benefits trends as you plan for your employee benefits package this year.
2020 was a year of uncertainty. A global crisis like the pandemic brought unprecedented levels of stress to employees in terms of health and job security, among others. And as a result, they find themselves craving for a gentler and more egalitarian workplace.
All this to say, companies are faced with the challenge of keeping up with employee expectations. That’s why it’s now become even more important to have a rewards and benefits scheme that employees find valuable.
We made a list you can use as a reference when making your employee rewards and benefits program for 2021.
1. Internet and/or Cellular Data Allowance
When the country was put on lockdown last March 2020, Internet usage surged to 63.3% per week from 13.4%. Staying online became an essential activity—and it still is—especially for remote workers.
Offering a monthly allowance for your employees’ Internet needs will be a helpful addition to your benefits package.
2. Flexible Work Arrangements
Even before the pandemic hit, WFH policies were already being pushed as a solution to the perpetual traffic problem in Metro Manila. During that time, such setup was foreign to companies who were used to the traditional in-office arrangement.
But after months of getting settled with remote work, 77% of the workers, if given the choice, feel inclined to continue working from home even after the global health emergency is over.
3. Corporate Transport Services
For workers whose jobs require physical presence, the daily commute is a struggle. Transportation costs continue to rise. And the pandemic stress has never really gone away.
Because of this, having corporate transport services is beneficial to both employees and employers. Not only you aid employees in their everyday lives, but you also get to minimize COVID-19 exposure within the workplace.
4. Mental Health Leaves
The pandemic caused psychological impact to the Philippines as a nation, with Filipinos reporting to have experienced moderate to severe levels of stress, anxiety, and depression.
Now, more than ever, it’s important for employers to acknowledge how implementing mental health breaks positively impacts the business. Happy, motivated employees are more productive. And productivity despite extraordinary circumstances deserve to be rewarded.
5. Telehealth Benefits
Employees have a growing interest in having remote access to medical consultations. Healthcare executives around the world believe that virtual care will continue to expand in 2021. This is also the best way to address employee concerns over direct exposure to COVID-19 when going to hospitals.
6. Financial Wellness Programs
One of the main stressors of Filipinos last year was financial uncertainty. This affects an employee’s ability to get work done. Offering your employees access to financial tools and advice is a great way to guide employees to financial freedom.
7. COVID-19 Tests / Vaccine Assistance
Countries all over the world race to procure COVID-19 vaccines in hopes of getting back to normal life. While the Department of Health (DOH) is looking to start COVID-19 vaccination programs by February, it will be an incredible help if employers play a part in easing the process and shouldering the cost of vaccination for their employees.
8. Extended Health Insurance for Family Members
Many employers in the Philippines partner with Health Maintenance Organizations (HMOs) to provide assistance on medical care and services. However, not everyone extends this benefit to the employee’s family members.
Filipino employees are concerned not only of their own health but of their family’s. And with our current health situation, employees are looking for ways to protect themselves and their loved ones.
9. Medical Allowance
The most effective way to distribute medical allowances to employees is through gift certificates.
With the Sodexo Gift Pass, employers can customize the amount and choose which merchants the GC is valid at. Employees don’t need to fill up reimbursement paperwork. Likewise, employers no longer have to verify whether the allowance was used for medical expenses.
10. Digital Incentives
A significant number of Sodexo clients shifted to digital rewards for their employee rewards and incentives program for the Christmas season. In 2021, it’s likely that more and more employers will seek contactless rewards because of practicality and convenience.
Through digital rewards like Sodexo+, companies were able to effectively drive employee productivity and motivation even in a remote work setting.