Interest Grows In Benefits

Ellen C. Wells

According to benefits provider Unum in a recent HR Executive piece, COVID-19’s impact is prompting more employees to engage with the process, paying closer attention to what their choices are and taking the whole process more seriously. The pandemic has reminded folks that their choices around benefits matter significantly to their healthcare, financial and mental health, and family challenges. According to Unum’s research:

• 36% of employees say they’re enrolling in different benefits this year

• 64% say they’re paying more attention to their employee benefits, and spending more time reviewing and understanding them

• Workers plan to enroll for the first time or increase their coverage in life insurance (27%), hospital insurance (14%), short- and long-term disability insurance (12%) and critical illness coverage (12%)

• 57% of workers report financial stress or hardship; the same amount also worry about their mental health

The article also uncovers that employees expect employers to “take care of them and give them the right guidance on how to survive.” GP