The ongoing trends of "Quiet quitting," the Great Resignation, and early retirements in the American workforce have prompted a significant shift in the priorities of U.S. employers. In response to the mass exodus of workers from the labor market, employers are actively seeking innovative methods to both attract new talent and retain their existing workforce. A primary avenue for achieving this is through a comprehensive overhaul of healthcare benefits packages.
Traditional benefits like multiple health insurance plan choices paid sick leave, and health savings accounts no longer suffice. The modern workforce is demanding a new array of benefits that cater to their holistic well-being. This includes access to tele-mental health services and virtual physical therapy programs. Notably, some companies are going a step further by fully covering their employees' health benefits and establishing their health clinics. This shift reflects the changing sentiment among employees who often feel that they are paying excessive amounts for healthcare that does not necessarily reflect the quality they desire.
According to Gallup, about 75% of individuals who receive healthcare coverage through their employers believe that they are paying too much for the level of care they receive. In light of these sentiments and the evolving expectations of the workforce, digital health benefits for employees and their families have emerged as a strategic solution to enhance retention rates. These benefits, such as telehealth services, offer convenient access to medical care, reduce the financial burden on employees, and improve their overall healthcare experience. By incorporating modern, digital health solutions into their benefits packages, employers can better address the needs of their workforce, improve satisfaction, and create a more competitive and appealing work environment in an era of unprecedented workforce change.