Rethinking benefits for a future workforce that is more agile, environmentally aware and tech-savvy
The vast majority (91%) of employers echo that they believe that employees’ expectations of their work experience are changing, and 79% of companies state they will have to make changes to their benefits offering in order to meet employee expectations in the future, according to Aon’s 2021 UK Benefits and Trends Survey.
The future is agile
The Covid-19 pandemic has catalysed a huge amount of change to our working lives. A mandated shift to homeworking meant that swathes of employees were working from home when they would have otherwise been in the office; pulse survey research by Aon shows that for more than half of companies, 76–100% of their workforce switched to remote working when they had previously been office-based. The same research also provided an early indicator of long-term change; 54% of organisations do not expect their full workforce to return to an office setting.
This shift will inevitably impact the benefits that companies need and value; cycle-to-work schemes suddenly become redundant if employees no longer need to commute to an office, whereas the demand for gym benefits may increase to offset employees being cooped up at home.
Environmental impact
Over the past few years, climate change and environmental issues have barely strayed from headline news. This is another area where companies appear to be in line with evolving expectations; one of the findings from our 2021 Benefits and Trends Survey is that companies are placing a greater emphasis on environmental, social and governance (ESG). 51% of companies state that they believe employees now expect environmental and sustainability policies, and this is reflected in the consideration of pension schemes; nearly half of businesses are considering ESG in the design of their pension scheme default funds, and 75% of businesses want to align this strategy with the wider Corporate Social Responsibility agenda.
The influence of B2C technology
One of the biggest changes in the past decade has been how digital has revolutionised consumer expectations; digital users expect a smooth user experience, instant information and rapid delivery from B2C interactions. However, it’s important for businesses to appreciate that the same B2C users who shop at Amazon or order takeout via Deliveroo are also their employees – and their expectations for the digital experience within the workplace may overlap or be influenced by the digital interactions they have in their personal lives.
There’s a disconnect between the benefits experience and the wider digital landscape; whilst there are numerous opportunities for consumers to use apps to order groceries online or check loyalty point statements, only 15% of companies use an app to allow employees to access flexible benefits.
There’s a clear need for businesses to utilise technology to effectively connect and communicate with their workforce, especially when that workforce may be more geographically fragmented than ever before. However, with 48% of businesses focusing on utilising technology more in the next 12 months, it’s clearly a priority item on many agendas.
Although we’ve seen a huge amount of change recently, it’s clear that there is plenty of opportunity for further change to come. With companies juggling employee expectations, business goals and wider societal changes – it’s key to focus on the heart of your business. Listen to your employees, understand their needs and concerns, and then align to your strategic goals. In an ever-evolving world, putting your workforce first makes good business sense.
This article is provided by Aon.
