After the events of 2020, there has been a rise in mental health crises as well as racial and socioeconomic disparities brought on by stress. As expected, the impact of COVID-19 has been difficult on most Canadians. The January 2021 Mental Health Index Report by Morneau Shepell indicates that the most commonly reported area of negative change is social life, followed by mental health, and financial security.
That is why, employees are now looking to workplace leaders as a dependable source of information, guidance and support. Your organization may already have a great employee benefit plan, but have you considered adding these top requisite benefits in 2021?
Mental Health Support
Supporting the mental health of your employees is no longer just an option, but a necessity. A study conducted by the World Health Organization specified that, every $1 invested in mental health results in a $4 return in improved health and productivity.
Now more than ever, virtual care is extremely important. A few services that insurers are now offering are:
A wellness program: A program designed to manage your overall wellbeing by having access to customized content to help make better and healthier decisions. You can also receive discounts and rewards at some of your favorite retailers to ease financial stress.
Digital therapy (iCBT, AbilitiCBT, MindBeacon): A therapist-assisted online cognitive behaviour therapy program to help you address a diverse range of concerns including anxiety, depression, etc.
Work Life Employee Assistance Program or Employee and Family Assistance Program: Offers you access to a wide range of experienced consultants as well as online resources and materials to help you deal with anything from personal issues to workplace stress.
CarePlus: Provides you mental health support beyond short-term counselling. Includes CarePlus Counselling and CarePlus AbilitiCBT.
Onward by Best Doctors: Provides you one-on-one improved and timely support should you have a disability claim due to depression, anxiety or any other mental health concerns.
Virtual pharmacy services: A service that provides 24-hour access to pharmacist support, 365 days a year and free medication delivery to a location of your choice.
Virtual physiotherapy: Connects employees with a provider remotely, to help them stay on track with their physiotherapy programs and continue their therapeutic exercises.
Financial Wellness
A financial wellness component within your employee benefit plan is a low-cost investment that could save your organization a lot of dollars per employee in increased health care costs, absenteeism, turnover and decreased motivation.
Your financial wellness strategy can include:
Improving financial literacy: Financial literacy programs can take a number of forms, from seminars, to workshops and digital tools to help employees with budgeting. Employee and Family Assistance Programs (EFAP) also include tools to support financial literacy amongst employees.
Providing access to financial planning: 73% of individuals surveyed, indicated that working with a certified financial planner has helped them have greater peace of mind. So, personal, one-on-one coaching and planning can make a big difference to employees.
Leverage existing plans to incent more personal savings and financial protection: This can be as simple as adding a group Tax-Free Savings Account to your lineup or providing additional financial incentives to save, such as through matching contributions.
Health and Wellness Benefits
A well-devised health and wellness program can improve employees’ health and lifestyle, translating into enhanced engagement and more productivity in the workplace.
Promote workplace health within your organization with:
Personalized wellness services: On-site services including health screening and flu shot clinics, seminars and workshops, wellness challenges and fairs, executive medical assessments and fitness appraisals and classes.
Coaching for healthier lifestyles: Connects employees with health care professionals who provide health risk assessments, education and information, tips and strategies, action plans and progress monitoring.
Education and risk assessment: Employees can identify potential health risks by completing a wellness assessment and take action with a personal health improvement plan.
Navigation of healthcare system: Helps employees navigate the health care system with access to a health and drug library as well as world class medical second opinion services, finding a health care provider to manage chronic conditions, and guidance online and over the phone.
Online Doctors: Employees can skip the waiting line and connect with a Canadian doctor online within minutes for whatever they need, whenever they need it, regardless of where they are at the moment.
As the world moves forward from an awfully difficult year, recognizing and rolling out astute employee benefit packages will be vital to your organization’s success in the coming years. The benefits and services mentioned above are just some of the many group benefits offered, varying amongst insurance companies.
If you have any questions about group benefit plans and how you can improve your plan, contact our professionals at info@dkcanada.ca and we will be glad to help you make well-informed decisions.
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