The Top Employee Benefits Trends for 2023
Are you curious what the top employee benefits trends will be for 2023? We are too! Every year it’s so interesting to see how our industry is changing and evolving and we wanted to share the trends with you this year.
In this article, we will discuss the top trends and what to expect for employees using their benefit packages.
Healthcare affordability.
The top employee benefits trends for 2023 that we see happening is the need for healthcare affordability. Employees who believe that their employer cares about their health and wellness are less likely to leave their jobs. This means that having healthcare paid for is a concern for many employees, especially for those lower income earners and those with chronic illnesses.
The widespread use of telemedicine since COVID-19 has helped to lower healthcare costs, while also making health care more accessible. This has led to the expansion of the virtual care solutions market.
We see this continuing into 2023 and having employees take a deeper care and notice of their benefits packages and what’s included in them and the cost per employee per month.
Enhanced women’s healthcare.
There are many employers that are noticing the unique and special needs for women’s healthcare. We believe that moving forward in 2023 and for years to come, enhanced women’s healthcare will be an important part of benefits packaging.
Some of the healthcare concerns for women include:
- Fertility and preconception family planning
- Lactation support
- Postpartum support
- Pregnancy loss support
If your healthcare packages do not include anything specific to womens health and you’d like to change that, you can reach out to us today. We’d be more than happy to update your plan to include enhanced care for the women who are a part of your team.
Lifestyle spend accounts.
We’ve seen health spending accounts in previous years, but we expect to see a lot more desire for a lifestyle spend account. This can include anything that promotes a healthy and wellness focused life be partially paid for through a benefits package.
This may be something your office already has or something you’ve been considering for the new year. If prepared correctly, these lifestyle spend accounts can be a huge benefit to having employees remain happy for longer at a job.
Home office supplies.
With so many employers encouraging working from home after COVID-19, we see stipends for home office supplies becoming a benefits trend for 2023.
While employees are working from home, they still need to have the same access to items that they would have in the office. If their position is dependent on printing, consider a stipend for a printer, printer ink and paper. Other positions will require other items.
A trend coming in for the new year is for employers to pay for these home office supplies instead of having an employee be required to.
Consider what you have available at the office for employees and ensure that those same needs are met at home if an employee has a home office.
Mental health care.
Mental health has long been a topic of conversation in Canada. But, the aftermath of COVID-19 has many employees buying into the fact that they could benefit from speaking to a professional.
We believe that the need for mental health care will only increase in 2023 and for many years to come. People are beginning to open up, speak about how they’re feeling and work towards a better, happier life.
Because of this, mental health services will be an important addition to all benefits packages.
This can include counselling services, paid mental health days, mental health prescriptions paid for, and so on.
It’s important to note that it takes 10-12 sessions with a psychologist to achieve tangible outcomes. This means that if counselling services are included in the benefits package, pay attention to how many sessions are available for employees.
Many people know that they could benefit from speaking to a professional, but the cost of these sessions is a big deterrent for them.
Preventative care.
The final employee benefits trend for 2023 that we see is preventative care.
Chronic diseases like diabetes, heart disease, and arthritis have serious consequences on employee health. This can impact workplace productivity, benefit plan costs and employee wellness. Since COVID-19, people are interested in preventative care due to long wait times and the inability to access care. It has opened their eyes to their health and wellness.
Preventive care benefits such as annual health screenings, routine vaccinations, flu shots, and routine tests are becoming increasingly popular with employers. For some employees, preventative care also includes massages, acupuncture, physiotherapy and other services that allow for the individual to remain in tip top shape.
Ready to update your plan?
Now that you’ve read the top employee benefits trends to look out for in 2023, are you ready to update your plan? Reach out to one of Navy & Sage’s benefits advisors and we’d be happy to help! We can discuss your current plan, what you’re looking to update and find the right plan at the right cost for you and your employees.
We look forward to helping your company in 2023!
