May 1, 2020 | By Ron Herrmann – BenefitsPro
A holistic benefits strategy allows you to provide employees with value beyond their paycheck and prepare them for whatever’s next.
HR managers, benefits professionals and business owners are grappling with a myriad of challenges brought about by the new coronavirus. But looking ahead, both employees and their employers will likely be focused on building greater resilience, so that they are better prepared for tough times–if and when they come.
As an employer or benefits manager, if you can offer employees access to coverage options, as well as equip them with educational resources to help them make smart decisions, you’ll provide them with value beyond their paycheck, making it easier for your business to attract and retain talent.
That’s where a holistic workforce benefits strategy comes in – one that takes into account a combination of both employer-funded and voluntary benefits and resources for work/life balance. These offerings can provide additional support for both you and your employees, both in our current environment and in the future:
Disability income insurance
Disability income insurance programs are in the spotlight as employers and employees comb through the options available to individuals who may be unable to work due to a medical condition associated with COVID-19. While pandemic-specific sick pay programs are being implemented at both the federal and state level, these don’t replace the broader coverage provided by private short- and long-term disability income insurance plans.