Maximising benefits for staff during the pandemic

Phones ringing, printers whirring, loud chat, quiet chat, laughter, phone voices, pens tapping, doors opening and closing, fingers clicking on keyboards.

Thanks to coronavirus, many of us have swapped those familiar sounds for an altogether different working environment, replacing the buzz of the office with the “ding dong” of a colleague joining on Zoom.

While the pandemic has affected us all, some feel these changes more than others. For example, many, including those on furlough, feel isolated because they have missed out on the office experience for so long.

And we know loneliness costs employers significant amounts through associated ill health, as well as lower productivity and increased employee turnover, so it makes sense for them to adapt. And quickly.

With that in mind, when it comes to helping colleagues feel connected and supported, how can employee benefits help, particularly in an environment where, understandably, spend is under scrutiny?

MID-PANDEMIC EMPLOYEE BENEFITS

One of Acumen Employee Benefits’ clients, a northeast company with 170 employees, had a traditional set of benefits, including pension provision and income protection, and that had worked well for many years. Then the pandemic hit. The workforce demographic shifted.

Some people chose early retirement, others were furloughed, and in five months, the team’s average age dropped from early 50s to late 30s. That meant different workplace perspectives, needs, wants and priorities. And, as mentioned earlier, the impact of remote working created a feeling of isolation for many.

Employees were used to working in a team environment and missed that daily interaction and less experienced members missed oneto-one mentoring from colleagues.

That the staff needed additional support was clear and understandable. The employer wanted to know how the benefit structure could be changed to suit.

When the group income protection was due for renewal, Acumen selected a provider that gave an employee assistance programme

(EAP) as an additional, free add-on.

This included online counselling 24/7, covering everything from mental health to legal matters and an online portal giving easy access to help and information, whenever they wanted it.

This was a repository for detail on all the benefits available, as well as access to the latest company news.

It also included links to other important services as part of the benefits package such as a virtual doctor service to identify and deal with health queries.

And because this business was a retained client, there was no consultancy fee for the package redesign.

ADAPTING IN A PANDEMIC

In the current climate, employers are dealing with challenges they never anticipated, ranging from planning for a safe return to the office to supplying mental health support, all while faced with the deepest recession since records began.

Controlling costs and looking after your staff is crucial — and that’s where employee benefits expertise comes into its own.

Of course there’s work to do on finding the right package – taking into account the workforce size and demographic – fine-tuning the objectives and restructuring the package to suit, but employers are adapting to look after their workforce and protect their own businesses.

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Nigel Saunders is an employee benefits consultant at Acumen Employee Benefits.

TEAM MEMBERS: From left, Nigel Saunders, Nicola Norrie, Andy Eason and Anne Lawson.