Exploring Employee Benefit Trends: Top 7 in the UK for 2024

While a recent Gallup poll shows that employee engagement in the UK is at a low of just 10%, compared to 34% in the USA and 33% in India, today there are more employee benefit solutions available than ever. 

With most types of benefits becoming ever-easier to implement, there is a huge opportunity to increase engagement with an employee benefit package that shows your company cares about its people with actions, not just words.

It feels odd to talk about employee benefit trends, because some human needs have existed for all time such as general health issues and indeed the menopause. However, these trends emerge under the influence of one or more of three contributing elements:

Moral growth

The pace at which morals and the global social code is evolving means that conversations that were kept at home or often to oneself, are now discussed at work. Now employers are expected to show their support, and do their bit to help out. Examples include efforts for equality across issues of sexuality, race, age and gender, and an openness concerning matters of mental health.

Global affairs

Worldwide events since the turn of the century dictate that employees need more assistance. Whether it be Covid, the cost of living, mental health issues from isolation in a digital age, or even people choosing to have children later in life, the workforce now faces new challenges, and employers can increase engagement by helping out.

Technology

There are more ways to help with the two factors above due to advances in the way benefits are delivered. For instance, apps and video calls have democratised mental health services that were once the luxury of a minority. HR teams can now enable employees to assemble personalised benefit packages, giving us an element of choice that was simply not possible a few years ago.

In this blog we look not only at which trends are now desirable or even ‘must-haves’ for employees, but also at why they are now in vogue. Here’s our top seven.

1. Mental Health Benefits

While 2020 was the year in which seemingly every company got a meditation app, the mental health benefit landscape has evolved to include 24/7 access to one-on-one coaching and psychology, with apps like Headspace, Calm and Unmind offering video and text sessions on demand.

Employees are now encouraged to let colleagues know if they are struggling, with managers often leading the way by being open and honest about their own mental health journeys. Mental Health First Aid and suicide prevention courses are now widely available, opening up subjects that were once deemed not safe for work.

2. Fertility Benefits

With people opting to have children later in life, a staggering one in six people of working age need fertility assistance to start a family. Today there are a huge range of options for companies looking to help, and research shows that this is repaid with increased productivity, engagement and loyalty.

In fact, nearly three-quarters of employees reveal they would stay at their company longer if they provided fertility benefits. It is surely no coincidence that in the USA, where engagement rates are more than triple that in the UK, around 40% offer fertility benefits according to just 19% here.

Today virtual fertility clinics such as Apricity enable employees to take less time off work for fertility treatment by having the option of scans, blood tests and consultations from home, meaning just two in-person appointments compared to nine or ten with a traditional journey. 

3. Customised Benefits Packages

Recognising that one size doesn't fit all, many organisations now offer the option for employees to create their own personalised benefits packages. Whether it's flexible spending accounts, wellness stipends, or tailored insurance plans, employees have more choice in selecting benefits that align with their individual needs and lifestyle. 

4. Investing in Financial Wellness

With rent and expenses soaring while wages in most industries stand still, most workers have less left in their pocket once the bills have been paid, and financial stress can affect well-being and productivity. Showing employees that you are aware of their situation and finding ways to help is a great way to show that your company cares about its workforce. 

Benefits may include financial planning workshops, retirement savings schemes, and access to financial advisors. Here are ten to compare.

5. Recognition and Bonus Software 

Software that allows employees to praise and reward each other with points that can be exchanged for gifts is great for enhancing culture, belonging and engagement. It works well for HR teams because once they set it up, colleagues do the rest themselves. 

Telling other team members why you think your colleague has done a great job increases wellbeing for all involved, and there’s nothing better than a well-earned meal or shopping spree with points you’ve earned over a period of time. It also allows the company to give out points to everyone if the company has performed well. Here are 30 different software providers to compare.

6. Menopause Support

This is the natural consequence of a workplace culture that is moving closer to the goal of equality when it comes to age and gender. Menopause is a natural part of life that happens for every woman, yet discussion of it has traditionally been taboo, with many unaware of the challenges it can present for women at work.

Employers are now beginning to provide resources and accommodations for employees going through this life stage. By addressing the specific needs of women during menopause, organisations are promoting a supportive and inclusive work environment. Here is a guide to how HR professionals can navigate this issue and support colleagues.

7. Flexible Work Arrangements

This employee benefit trend has emerged from a combination of all three of the factors listed at the start of this blog. Covid demonstrated that businesses can still succeed without everyone in the office. This showed us (particularly the parents amongst us) that flexible working based around out-of-work responsibilities can make our lives easier, and often cheaper when you factor in travel and childcare costs.

Many companies now offer a home office budget to help their employees feel comfortable, but also to abide with musculoskeletal health and safety regulations. They offer choice and flexibility when it comes to the office to promote work-life balance, and this has even allowed the companies themselves to save money by moving to smaller offices.