OneHub | Overview

Connect all your employee benefits, wellbeing, reward, and recognition so your people have one home for everything at work.

Explore

OneHub | Benefits

Run, Manage and engage your employees in, benefits - anywhere in the world.

Explore Benefits

OneHub | Discounts

Help employees’ pay go further with global savings on global brands to instantly increase the value of their post payroll spend.

Explore Discounts

OneHub | Reward & Recognition

Shine a light on all the incredible things happening across your organisation.

Explore R&R

OneHub | Wellbeing

Enhanced wellbeing with customised and guided support for every employee.

Explore Wellbeing

OneHub | Wallet

Give every employee exactly what they want from their benefits, with Benefex card-based allowances.

Explore Wallet

Benefex resources

All sorts of insights, ideas and guides from the Benefex team to help you deliver an exceptional employee experience.

Explore resources

Customer stories

What’s it like partnering with Benefex? Nobody says it better than our customers. See what we’ve helped them achieve.

Explore stories

Events and webinars

Check out our upcoming events. And explore our library of on-demand webinars, featuring clients, partners and industry thought leaders.

Explore Events and Webinars

Benefex careers

Join our mission to create exceptional employee experiences every day.

Explore careers

Life at Benefex

Explore what it’s like to be a Benefexer, our culture, employee stories, and more.

Explore

Open Roles

Looking for an exciting career? See our open roles and apply today!

Explore roles

About Benefex

Find out more about Benefex, our values, and mission.

Learn more

Customer stories

What is it like to work with Benefex? Nobody says it better than our customers. See what we’ve helped them achieve.

Explore stories

Awards

Check out the recognition we’ve received for excellence in delivering exceptional employee experiences.

Explore awards

ESG

Discover our commitment to achieving net-zero emissions and how we’re making a difference.

Discover our commitments

Get in touch

Contact us for enquiries, partnerships, or to simply say hello. We’d love to hear from you and explore ways to work together.

Contact us

Want to try Benefex?

Book a free demo today

Book a demo
Employee Benefits

Why financial protection tops the list of benefits priorities for 2023

13-06-2023

How the cost-of-living crisis is changing employee expectations of employers

Employees faced significant stress in 2022 – rising inflation, a global energy crisis, international instability and long healthcare waiting lists are just some of the circumstances affecting employee health and wealth. If financial wellbeing was under strain for employees a few years ago, it most certainly is now. In the UK alone:

Financial, emotional, and physical wellbeing are closely interlinked and there’s no doubt that the financial squeeze employees are facing is hitting all facets of their wellbeing.

Six months ago, Benefex produced a Cost of living crisis special report, which included a breakdown of how the benefits toolkit can help employees offset some rising costs. This trend towards supporting employees’ financial wellbeing through benefits and educational content continued through the second half of 2022. Here’s what Benefex’s report found:

Employers’ increasingly paternalistic role

Since the Covid-19 pandemic, employees’ expectations of employers have increased significantly. In 2022, a survey by Benefex of 4,027 employees showed that expectations have risen across every element of the employee experience, from benefits and reward through to technology and beyond.

A whopping 77% of those surveyed said their overall expectations had increased as they demand support both inside and outside the workplace, while 48% of those surveyed said their expectations around how their employer supports their wellbeing has increased. As employees continue to turn to their organisations in turbulent times, employers are getting more involved in areas previously considered out of scope.

The benefits most important to employees

Financial protection to cover illness was right at the top of the list of priorities, with 92% of employees saying it was important that their employer provided this. Support for mental health and emotional wellbeing, as well as financial wellbeing, were also high on their list of expectations.

As employers look to provide more support to help their employees navigate the financial crisis, it’s important to communicate the value of benefits that will help create a financial buffer, as well as those that provide immediate cost savings on everyday items.

Unsurprisingly, insured benefits such as income protection and personal accident cover have continued to see increased take up, protecting employees and their families against key risks. Income protection could be one of the most important insurance products employees will ever own.

Take an holistic approach

Many organisations are seeing that it’s time to elevate the benefits platform to show the value of everything they do for employees. Acting as a central hub to promote wellbeing and create a strong culture, many organisations share educational content to support their employees, provide them with information and highlight the value of their benefits.

Many schemes offer ‘anytime benefits’, which means there’s ongoing engagement, and employees can adjust their benefits selection based on their financial circumstances.

Benefex’s recent report, Employee benefits trends: Data insights for your 2023 employee benefits strategy, explores five key benefits trends, including how employers are supporting their employees through the financial crisis.

Originally posted on REBA

13-06-2023
Picture of Dan Howard

Dan Howard

Up next

The power of storytelling for better benefits outcomes

Related content

Latest resources, events & insights

22-02-2023

On demand webinar | The future of benefits in Ireland – what should you be doing now and next

Join our community and get the latest updates in the world of HR, reward, and benefits