From the Great Resignation to benefits communications, and more, 2022’s top Snapshots
As 2022 heads toward the exit door, benefits professionals are looking forward to a fresh start in 2023. It’s been an unpredictable year marked by the Great Resignation, high inflation and rising interest rates.
Throughout the year, Securian Financial’s Snapshot has brought you insightful and up-to-date information on a broad range of topics. Here’s a recap of 2022’s most popular Snapshots in case you missed them the first time:
The top three Snapshots in 2022
The Great Resignation changed how companies view benefits
Embattled hiring managers spent most of 2022 trying to stem the tide of employees moving to other companies or choosing to drop out of the workforce. The Great Resignation or the Big Quit was triggered by the COVID-19 pandemic, which left millions of people reassessing their life priorities, particularly when it came to working.1
What can employers do to convince workers to stay and attract candidates looking for something better? It’s more than standard medical benefits. Think childcare assistance, student loan repayment, financial advisory services, mental health support, gym discounts, yoga classes, meditation programs and many others.2
Supplemental insurance, claims integrations deliver immediate value
This year, more workers were also surprised by unplanned and increasing health expenses. To help defray mounting health care expenses for workers, employers began offering supplemental coverages such as hospital indemnity and accident insurance to fill gaps not covered by major medical.
To simplify claims processing, claims integration uses the data found in processing one claim to identify or expedite other claim-eligible coverages an employee might have.3 This feature is beneficial because many employees aren’t familiar with supplemental insurance products.
Benefits communication becomes a long game
June’s Snapshot reminded readers that the days of passing out a few brochures at town hall meetings to explain new benefit offerings are long gone.
Today’s HR and benefits managers must rely on year-round communications to educate employees on benefit offerings and what’s changing or new.
See how managers can use three pillars to shape a communications strategy into an effective, repeatable process.
January 2023 is just over the horizon
It’s been said that gratitude makes sense of our past, brings peace for today, and creates a vision for tomorrow. With 2023 just over the horizon — and new challenges sure to emerge — we thank you and hope you remain a loyal Snapshot subscriber. Through monthly installments, our focus is to help you see and anticipate the industry trends, insights and ideas that’ll help shape your benefits strategy today and tomorrow.
In the meantime, we wish you and your family health and happiness this Holiday season. See you next year!