Business leaders in charge of employee benefits are altering their offerings, according to research published in an April 7 Harvard Business Review report.
The study was conducted by Care.com between Dec. 16 and Jan. 6. Care.com surveyed 500 C-suite human resources leaders and managers in the U.S. on what benefits they plan to keep, get rid of, add or expand as a result of the COVID-19 pandemic.
Five survey findings:
- Ninety-eight percent of respondents said they plan to newly offer or expand at least one employee benefit.
- Eighty-nine percent said they are deprioritizing at least one type of employee benefits due to COVID-19 to prioritize others.
- Forty-eight percent of respondents said paid vacation days are getting deprioritized, followed by commuter benefits (40 percent), tuition reimbursement (40 percent), meal vouchers (39 percent) and on-site child care (37 percent).
- Sixty-six percent said to combat the attrition from COVID-19, they intend to increase work flexibility benefits, followed by 63 percent who said they plan to increase their child care benefits and 41 percent who said they plan to increase their older adult care offerings.
- Forty-one percent of respondents said they plan to expand mental health benefits this year, and 59 percent cited improved mental health as one of the primary outcomes of caregiving benefits.
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