Employers are ready to spend big on in-demand benefits

Long story short: Employers are ready to spend big on in-demand benefits

June 11, 2021 11:48 AM

Employers have realized that an investment in their employees now will pay dividends in the future.

Companies including PwC and Walmart have announced new programs and initiatives designed to help employees bring their best selves to work. PwC will be giving trans employees up to $75,000 for their healthcare costs, in an effort to provide more inclusive benefits for LGBTQ employees.

Walmart launched their new workforce management app, Me@Walmart, and will provide their 740,000 employees with brand new smart phones as a company perk. And now any employer can find new and innovative ways to boost employee morale and better support their employees through a new benefits marketplace. PERKs allows employees to shop for things like childcare services, massages, virtual therapy and fitness classes, among more than 1,000 other offerings.

To learn more about the benefits your employees want, join us July 21 and 22 for Workplace Strategies Agenda, a virtual event diving into post-pandemic benefits and the path to truly impactful DEI initiatives. To view the complete agenda and register, click here.

PwC is giving trans employees $75k for their healthcare costs

Nearly 1 in 5 transgender people have been denied health coverage simply because of their trans status, according to the National Center for Transgender Equality and the National Gay and Lesbian Task Force. In an effort to alleviate that stress for their own employees, PwC is increasing its lifetime maximum for trans-related procedures and healthcare coverage from $25,000 to $75,000, starting July 1 of this year.

Trans employees will typically spend anywhere between $25,000 and $70,000 in healthcare costs per year, according to the Philadelphia Center for Transgender Surgery. Those costs are typically not covered under most insurances. Supporting employees during every step of the process helps individuals find more satisfaction in their jobs and live happier, more fulfilling work lives.

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PwC is giving trans employees $75k for their healthcare costs

This platform is a one-stop shop for the benefits your employees need

Big tech companies like Facebook and Google are famous for their over-the-top benefits and perks. Now, any business can offer their employees the same things through an all-inclusive benefits marketplace.

PERKS, an organization that works to help companies build positive workplace cultures, has created the PERKS Marketplace — employees can search and shop for childcare services, massages and virtual therapy, fitness classes, and even team building experiences to support their personal and professional needs.

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This platform is a one-stop shop for the benefits your employees need

Employers need to ‘cross-pollinate’ their benefits to maximize utilization

Thirty-five percent of employees do not understand the benefits available to them, according to a survey by Voya Financial. Yet employees consider their benefits package to be a critical part of their workplace satisfaction: 30% of employees are planning to leave their current

employer

for an organization with better benefits, according to data by Randstad.

Employers should think more strategically about how benefits that address mental health, financial wellness and family planning, among other needs, can integrate with each other to maximize the employee experience.

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Employers need to ‘cross-pollinate’ their benefits to maximize utilization

Why Walmart is giving employees free Galaxy XCover Pro smartphones

Walmart is planning to equip over 740,000 of its employees with new Samsung Galaxy XCover Pro smartphones, cases and protection plans at no cost to them. This is another way Walmart says it is trying to invest in its people while also improving the customer experience.

The retail giant debuted a new employee-exclusive app that will help workers get through the day and will be accessible through the new devices. Me@Walmart will let workers view their shifts up to two weeks in advance, check on their upcoming paid time off and make schedule change requests.

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Why Walmart is giving employees free Galaxy XCover Pro smartphones