As personal health and wellness became a business continuity issue and the world quickly learned to work together through quarantine, we’ve learned how critical those things are to long-term success.
Companies are thinking more creatively and finding new ways to understand their resources — including their people. As we move from surviving a crisis to recovery, employees are engaging in lesser used benefits and employers are coming up with innovative ways to redefine workplace wellness that will define business success.
Tools for deeper engagement
Beyond a paycheck, employees lean on their employers for help with healthcare,
- Workers are plugging into their company’s stock plan offerings more than ever before. Employees with stock plan benefits are checking in on their plans more often, and more frequently via mobile — reflecting broader global trends in digitalization and
technology adoption .
- Rather than a bonus or emergency fund, more stock plan participants now say they see their equity compensation as a long-term investment and a core part of their total compensation. This suggests more are drawing a connection between their workplace benefits and long-term financial wellness goals.
- More employees also say their equity comp is an increasingly important factor in weighing whether to stay with or leave a job. At the same time, more are holding onto their awards long-term because they believe in their company’s future — showing the value they place on a sense of connection with their companies amid continued disruption and remote work.
These trends indicate a shift in perception: In chaotic times, equity compensation has become a specialized tool that individuals can leverage to address personal needs and goals. At the same time, it’s driven greater
But more than that, equity comp has helped build a tangible sense of connection and ownership between individuals and their companies. That sense of connection is the sweet spot where employee benefits intersect with wider goals for company productivity, innovation, and resilience.
Turning engagement into innovation
Deloitte’s 2021 Human Capital Trends report notes that companies are thinking deeply about the profound link between
Workplace wellness means something very different in 2021, as workers and companies alike look beyond the balance sheet to redefine how we live and work. Companies are under greater scrutiny regarding corporate social responsibility, culture, and their role in society.
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Since the CARES Act passed last March, we’ve seen more companies adopt or explore the possibility of offering progressive workplace benefits, such as
The new measure of success
One powerful lesson we’ve seen repeatedly is that a clear-sighted, long-term benefits strategy can play a key role both in short-term resilience and in long-term success. After a year like no other, we know the profound connection between individual and organizational wellness.
For both individuals and companies, success will depend on the connection and creativity they are able to generate. The way we work and live may continue to shift as we navigate uncharted waters, but workplace benefits have proven their salt.
Leveraging workplace benefits to engage and motivate key employees to weather any storm is not just a matter of retention. It’s a practical step to create the culture of engagement, ownership, and wellness that companies are looking for in order to thrive.
