As we begin to emerge from the COVID-19 Pandemic, companies are evaluating how they will reenter the workforce. Whether they plan to stay remote, come back to the office, or a version of the two, the workforce will look different, and retention is key.
As we’re starting to see, one size doesn’t fit all when it comes to staying remote or going back to the office. Just take Wall Street and Silicon Valley for example. The Economist reports that companies such as Goldman Sachs are aiming to stick with the status quo and ask employees to return to the office, while a handful of big tech companies such as Twitter, Spotify, and Square are allowing remote work indefinitely. Many organizations are looking at a hybrid model, which allows employees a mix of going into the office and staying at home.
Companies are tasked with the decision on how to approach the future of their office work long-term. One thing that shouldn't change, however, is that dedicated employees deserve to be valued, supported, and appreciated after a long year. With that, it may be the time to reevaluate how their benefits are approached.
The standard has been set for what is means to look at employee benefits wholistically. Today's market is competitive, and employees are increasingly valuing benefits that value them in return. This often means going above and beyond standard benefit packages to look at benefits that are unique, meaningful, and personalized. After more than a year at home, much of the workforce has started to focus on companies that have their best interest at heart, and implementing a customizable lifestyle account is a great way to do just that.
Robust lifestyle options create a truly personalized experience for employees' diverse needs. These accounts allow companies to attract and retain better talent, promote healthy lifestyles, and encourage mental wellness. Just take a look at what studies are showing:
· The Harvard Business Review reports that 80% of employees would choose additional benefits over a pay raise.
· Zoro found that 72% of employees said having more work benefits would increase job satisfaction.
· A Willis Towers Watson study finds that 78% of employees are more likely to stay with their current employer because of the benefits they offer.
At ThrivePass, we aim to provide employees with world-class lifestyle options using innovative technology solutions.
The Thrive Account is a great solution for all workforce types. Our powerful platform serves as an opportunity to reengage with staff, provide support, boost productivity, and attract and retain talent. The Thrive Account’s customizable wallets allow employers to best support their employees and create and sustain an impactful company culture.
Each wallet contains digital spending categories that can be selected as eligible expenses. Popular use cases include fitness, family support, travel, mental care, and charity.
If an employee needs new headphones for their home office or is covering food delivery fees while working at their company’s office, we have them covered.
The Thrive Account is also a great way to personally recognize dedication, hard work, and productivity. Our spot gifting feature allows employers to give a “virtual shoutout” to their employees by providing extra funds in their account. This feature can be used in countless ways from an employee hitting a quarterly goal, providing proof of the COVID-19 Vaccination, or always having a smile on their face.
ThrivePass can also administer work anniversary and service recognition programs. We can customize rewards based on years of service including deposits in employee’s Thrive Account, or allowing them to select personalized experiences in our ThrivePass Marketplace.