32 The traditional way of thinking about employee benefits is changing. No longer is it sufficient to only offer various health insurance, life insurance and disability coverage options. Instead, job seekers are looking for employers whose benefits packages include a combination of enhanced medical-coverage options and nonmedical perks alike. “That is a question that is asked a lot in the interview process,” says Krista Moren, benefits manager for Syndeo, a Wichita-based outsourced employer services provider that administers employee benefits on behalf of its clients. Employees continue to view healthrelated benefits as the most important What Do Your Employee Benefits Offerings Say About Your Bank? By Josh Heck, Syndeo aspect of a company’s benefits plan, followed by retirement savings and planning benefits and leave benefits, according to the Society for Human Resource Management’s 2022 Employee Benefits Study, released in June. While health insurance coverage is most commonly associated with employee benefits offerings, non-medical perks, such as financial services, identity theft protection and pet-oriented plans, are becoming more of a staple for businesses. In some instances, employers offer these types of coverage plans to employees at no cost to them, while other businesses utilize a cost-sharing model. Parental leave and paid time off for volunteering are other non-medical benefits that are gaining popularity in today’s market. Companies offering plans that provide financial and legal assistance is also an emerging employee benefits trend. “Employees like having a little bit of variety,” Moren says. That variety could help your bank win some recruiting battles in what is still considered a tight labor market. Mental Health and Telemedicine SHRM’s Employee Benefits Study found that one in five employers now offer mental health days and other paid time off. Additionally, 93% of those surveyed (3,129 individuals representing businesses of various sizes and industries across the U.S.) indicated they offer telemedicine or telehealth benefits.
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