We recently looked at the best employee benefits for UK businesses. The benefits we explored in this post are largely evergreen – they’re likely always going to strike a chord among both existing and potential employees.
But preferences and priorities change all the time. The sort of benefits that might have proven popular just a few short years ago might not have quite the same impact in 2024.
So in this post we’ll take a look at some of the employee benefit trends to watch out for in 2024.
Business Health Insurance
NHS waiting lists hit a record high in 2023. And unfortunately, the situation seems unlikely to get any better in the foreseeable future. As a result, business health insurance plans will likely remain one of the most valued of all employee benefits throughout 2024, and in future years too.
In one survey, 89% of respondents rated healthcare benefits as either “extremely important” or “very important”. Another report revealed that around 80% of jobseekers compare company healthcare plans when considering which role to apply for.
Increasingly, employees also want some form of mental health support as part of their workplace healthcare policy – particularly younger employees. One survey revealed that around 50% of Gen Zs and 40% of millennials expect their employees to actively support their mental health and wellbeing.
Learn more about tailored health insurance as an employee benefit.
Business Dental Cover
The UK has been struggling with an NHS dentistry shortage for some years now. At one point, the situation was so dire that some patients were facing three-year waits for dentist appointments. The situation is so serious that some experts are warning that the “traditional” model of NHS dentistry is “gone for good”.
Unfortunately, it seems that many will have no choice but to go private if they want to receive any form of dental care. As a result, private dental cover may soon eclipse even healthcare cover as the most impactful employee benefit. With a company dental care plan, your employees can get 24/7 access to private dental care as soon as they need it, with fast referrals should they need any emergency treatment.
When the alternative is a wait of months, or even years, for check-ups and treatment, the importance of such cover cannot be understated.
Learn more about dental insurance as an employee benefit.
Business Travel Insurance and Leave Benefits
One survey revealed that 81% of respondents rate leave benefits as either “very important” or “extremely important”.
A “leave benefit” is anything that might encourage employees to enjoy a better work/life balance. On one level, this can simply extend to offering generous leave packages that go significantly above and beyond your employees’ statutory rights. Yet certain employee benefits can go much deeper, such as through making it as easy as possible for employees to make the most of their time off.
For example, many employers offer business travel insurance. This can cover employees for many of the risks associated with business travel, from missed flights to lost baggage, to overseas healthcare costs.
However, some employers choose to go much further, through covering their employees for their personal travel. With a leisure travel scheme, you can cover employees for many of the risks associated with the holidays they take outside of working hours. You can even allow them to add their family members to the policy.
Learn more about the benefits of introducing leisure travel schemes as an employee benefit.
Trust Capacity Insights To Help You Deliver a Truly Outstanding Employee Benefits Package
Want to offer an employee benefits package that will strike a chord with your employees in 2024 and beyond?
Whether you want to put together your first employee benefits package, or you want to add to or alter an existing package, we’re here to help. We specialise in designing travel insurance, healthcare, dental care, and personal accident insurance policies for businesses of all sizes.
Make 2024 the year you give your employees the best. Get in touch to find out how we can help you