Nearly one in five companies already deliver non-financial benefits
According to WTW’s 2022 Inflation and Compensation Actions Survey, in addition to raises given sparingly and to targeted audiences, companies are increasingly looking at the non-financial elements of compensation . For 18% of survey respondents, this is already effective. For 15% it is in the pipeline and 38% are considering it.
More than half of companies focus on improving and promoting money-saving employee benefits
Better health coverage
“It’s about indirectly improving the financial well-being of their employees. For example via health coverage. Some companies increase the guaranteesthem rate reimbursement or services covered. For example, they now include more reimbursements for sessions with an osteopath, a psychologist,” observes Khalil Aït-Moouloud, director of the compensation survey activity at WTW.
More flexibility in the compensation package
The objective is for employees to be involved in their remuneration and to be able to modulate their package according to their current needs. “They can, for example, arbitrate between a increase and additional days off. Or decide on the use of their variable bonus. Some will decide to pocket it, others to transform it into trainingothers to increase the guarantees of their complementary health”, he illustrates.
In-house discount programs
Preferential rates on in-house products and/or services (excluding CSE) are once again put forward by companies. “Some also enter into partnerships with external brands so that their employees benefit from rates negotiated with these brands. I have noticed this with DIY, furniture and even IT stores,” explains Khalil Aït-Moouloud.
Access to specific aid programs
“Some employees also have the option of joining legal hotlines to take advantage of technical advice on subjects of tax exemption or real estate investment for example”, he observes. The objective is to support employees as much as possible and on a daily basis in maintaining their purchasing power.