Unum webinar: How the pandemic is reshaping the workplace and benefits
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In this webinar, three benefits experts analyze Unum data and discuss how the COVID-19 pandemic is changing the workplace and employee benefits.
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Unum webinar: How the pandemic is reshaping the workplace and benefits
- 1. How the pandemic is reshaping the workplace and benefits July 21, 2020 The information contained herein does not constitute legal advice or a legal opinion on any specific facts or circumstances. The contents are intended for general information purposes only, and you are urged to consult a lawyer concerning your own situation and any specific legal questions you may have. Watch the full webinar on unum.com/hr-trends
- 2. Employers get the message on paid leave2 Work-from-home taboos dissolve1 Enrollment meets social distancing4 Benefits change direction 3 Key findings from the U.S. Employer Insights Survey, June 2020 Source: U.S. Employer Insight Survey, June 2020, sponsored by Unum Group. A look at how the pandemic is reshaping the workplace and benefits. July 2020 | 2
- 3. Key findings from U.S. Employer Insights Survey, June 2020 Employers get the message on paid leave Work-from-home taboos dissolve Enrollment meets social distancing 1 Benefit change direction 2 3 4 July 2020 | 3
- 4. Most employers had people working from home during the pandemic. By early June, some were cautiously bringing them back to work. U.S. EMPLOYER INSIGHTS SURVEY, JUNE 2020 57% About half or fewer 18% More than half but not all 15% No employees 10% All employees IN JUNE, EMPLOYEES WERE GRADUALLY RETURNING TO WORK Percentage of employers reporting their employees have returned back on site. 95% of employers had at least one person working from home during the pandemic On average, 60% of an organization’s employees were working from home WORK FROM HOME July 2020 | 4
- 5. July 2020 | 5 U.S. EMPLOYER INSIGHTS SURVEY, JUNE 2020 More than half of employers plan to offer work-from-home flexibility long term. Will you allow employees the flexibility to work from home even after the COVID-19 pandemic is over?* 17% NO 56% YES 26% NOT SURE *Figures do not add to 100% due to rounding
- 6. July 2020 | 6 U.S. EMPLOYER INSIGHTS SURVEY, JUNE 2020 Larger employers are more likely to allow working from home. Will you allow employees the flexibility to work from home even after the COVID-19 pandemic is over?* 17% NO 56% YES 26% NOT SURE 50%<500 Employees 15% 31% 63% 20% 22%500+ Employees Total *Figures do not add to 100% due to rounding
- 7. Key findings from U.S. Employer Insights Survey, June 2020 Employers get the paid leave message Work-from-home becomes mainstream Enrollment meets social distancing 1 Benefit packages will change 2 3 4 July 2020 | 7
- 8. After seeing the importance of leave during the pandemic, nearly half of employers are planning to expand employer-paid leave benefits. July 2020 | 8
- 9. July 2020 | 9 Will you expand paid leave benefits in the next 12 months? U.S. EMPLOYER INSIGHTS SURVEY, JUNE 2020 32% Might or might not 44% Probably or definitely will 24% Probably or definitely will not U.S. EMPLOYER INSIGHTS SURVEY, JUNE 2020 Question: How likely is it that your organization will expand its employer-paid leave and absence benefits offered to employees in the next 12 months as a result of the COVID-19 situation?
- 10. Key findings from U.S. Employer Insights Survey, June 2020 Employers get the paid leave message Work-from-home becomes mainstream Enrollment meets social distancing 1 Benefit packages will change 2 3 4 July 2020 | 10
- 11. July 2020 | 11 U.S. EMPLOYER INSIGHTS SURVEY, JUNE 2020 Question: Given what you know about the impact of the COVID-19 pandemic on businesses and workers, which of the following changes specific to the non-medical insurance benefits offered to employees is your organization considering in the next 12 months? COVID-19 affected both employee benefit needs and the economy. 43% NO CHANGES 57% CHANGES EXPECTED More than half of employers plan some changes to their non-medical benefits.
- 12. July 2020 | 12 U.S. EMPLOYER INSIGHTS SURVEY, JUNE 2020 Question: Given what you know about the impact of the COVID-19 pandemic on businesses and workers, which of the following changes specific to the non-medical insurance benefits offered to employees is your organization considering in the next 12 months? What changes will employers make to their non- medical benefits in 2021? 57% CHANGES EXPECTED 31% 15% 3% 2% Add new/expand wellness benefits Shift more of benefits cost to employers Add new/expand employer-paid benefits Add new/expand employee-paid benefits 20% 18% 10% Shift more of benefits cost to employees Reduce employer-paid coverage levels Drop one or more employer-paid benefits Expand coverage Reduce coverage
- 13. Key findings from U.S. Employer Insights Survey, June 2020 Employers get the paid leave message Work-from-home becomes mainstream Enrollment meets social distancing 1 Benefit packages will change 2 3 4 July 2020 | 13
- 14. July 2020 | 14 Virtual enrollment meetings are expected to nearly double this year, while in- person enrollments will shrink. Virtual meeting with benefits counselor In-person benefits meeting 2019 2020 23% 49%42% 33% U.S. EMPLOYER INSIGHTS SURVEY, JUNE 2020 Question: Now thinking about benefits enrollment, what method(s) is your organization planning to use this year for employees to select their medical and non-medical benefits? What method(s) of enrollment did your organization use last year for employees to select their medical and non-medical benefits?
- 15. Year-over-year changes for enrollment methods for medical and non- medical benefits 2019 2020 26% 2% 7% Question: Now thinking about benefits enrollment, what method(s) is your organization planning to use this year for employees to select their medical and non-medical benefits? What method(s) of enrollment did your organization use last year for employees to select their medical and non-medical benefits? 20% Online self-guided 47% 54% 22%24% Telephone Paper No enrollmentIn-person benefits meeting 49% 33% Virtual meeting with benefits counselor 23% 42% U.S. EMPLOYER INSIGHTS SURVEY, JUNE 2020 July 2020 | 15
- 16. COVID-19 has changed the benefits and competitive landscape for the foreseeable future. • Lockdown and return to work have surfaced employees’ need to care for others and to stay healthy. • Many employers are responding with increased benefits and flexibility for workers. Virtual methods of working will be essential. • But increased work from home will also increase the war for talent: When people can work anywhere, their choice of employers is virtually unlimited. • To compete, employers will need to revisit their benefit offerings, even if the economy is slow to recover. U.S. EMPLOYER INSIGHTS SURVEY, JUNE 2020 BENEFITS HAVE BEEN ELEVATED July 2020 | 16 What’s next?
- 17. July 2020 | 17 WHEN June 11 – 16, 2020 WHO Employee benefits decision- makers or administrators from a wide range of industries WHERE Approx. 100 respondents from each employee-size category: 407 employers in the U.S. See full report on unum.com/hr-trends. U.S. EMPLOYER INSIGHTS SURVEY, JUNE 2020 • 1 – 99 • 100 – 499 • 500 – 1,999 • 2,000+ COMPANY SIZE About the survey U.S. EMPLOYER INSIGHTS SURVEY, JUNE 2020, SPONSORED BY UNUM
- 18. July 2020 | 18 Learn more Watch HR thought leaders discuss key findings from the report. Read the report Watch the webinar Read the June 2020 U.S. Employer Insights Survey.
- 19. © 2020 Unum Group. All rights reserved. Unum is a registered trademark and marketing brand of Unum Group and its insuring subsidiaries. NS-453654 (07-20) unum.com/hr-trends