TAG Financial Institutions Group
  • Home
  • About Us
  • Services
  • Team
  • Transactions
  • News & Publications
  • Partnerships
  • Contact

News & Publications

A Growing Bond Between Companies and Employees

7/15/2020

 
Motivated by a tight labor market (until the COVID-19 pandemic) and a new emphasis on health and wellbeing (prompted by the pandemic), employers are rethinking their benefit offerings. Specifically, employers are expanding their family-friendly benefits in an attempt to cultivate a more diverse workforce. Family-friendly benefits include provisions for parental leave, fertility services, childcare, caregiving leave, flexible work schedules, etc. 59% of employers say that offering family-friendly benefits are part of their recruiting strategies, with that number expected to increase to 77% in the next three (3) years.

While some 65% of employers offer such benefits because they align with their corporate strategy or mission, a greater number of companies (72%) say the primary reason for offering these benefits is to recruit and retain talent in a competitive labor market. Attitudes toward pay and benefits are shifting; half of US workers now say they would rather have access to these types of benefits, which promote work/life balance, than receive higher bonuses. Employers are taking note. Well over half of employers offer or are planning to offer fertility and family-building services by 2022.

Paid leave benefits are expanding as well. Maternal and paternal leave is anticipated to be offered by 84% and 80% of companies, respectively, in 2022. Other sorts of leave benefits are being put on offer too. Employers allowing caregiving leave for spouses, children, and parents could double over the next two (2) years. For better or worse, American’s employers are becoming a more integral part of family life, and employees are becoming more dependent on their employers, which could change labor market dynamics.

Additionally, as employers flesh out their family benefit plans, they will have to devote more resources to the design and implementation of said plans. Benefits consultants and third-party administrators will play a major role in shaping the future of employer-employee relationships, and the relationships between employers and these benefits organizations will continue to fluidly evolve. But certainly, with greater emphasis and dedication of resources to a wider range of employee benefits, there will be greater interest in controlling the institutions which shape the growing employer-employee bond.
​
SOURCE:https://www.willistowerswatson.com/en-US/Insights/2020/05/employers-prioritize-family-friendly-benefits

Comments are closed.

    Recent Posts

    Archives

    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    August 2022
    February 2022
    January 2022
    December 2021
    November 2021
    February 2021
    January 2021
    December 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    April 2020
    February 2020
    October 2019
    September 2019
    April 2019
    March 2019
    January 2019
    December 2018
    November 2018
    September 2018
    July 2018
    June 2018
    May 2018
    April 2018
    January 2018
    June 2017
    May 2017
    December 2016
    October 2016
    September 2016
    May 2016
    April 2016
    March 2016
    December 2015
    October 2015
    June 2015
    March 2015
    December 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    February 2014
    January 2014
    November 2013
    September 2013
    August 2013
    April 2013

    This section will not be visible in live published website. Below are your current settings:


    Current Number Of Columns are = 3

    Expand Posts Area = 1

    Gap/Space Between Posts = 30px

    Blog Post Style = simple

    Use of custom card colors instead of default colors =

    Blog Post Card Background Color = current color

    Blog Post Card Shadow Color = current color

    Blog Post Card Border Color = current color

    Publish the website and visit your blog page to see the results

Home
About Us
Services
Team
Transactions
News
Partnerships
Contact
Terms of Use
Picture
© Copyright 2022. All Rights Reserved.
  • Home
  • About Us
  • Services
  • Team
  • Transactions
  • News & Publications
  • Partnerships
  • Contact