Flexible employee benefits, like pet insurance or pet wellness employee benefits, are becoming part of employer benefits packages in the workplace. How and why is this trend becoming more popular?

How Flexible Benefits Plans Work

Established employee benefits plans are a complete benefits package for your employees, making their choices simple. They covered essential benefits, including long-term disability, drugs, eye care, and dental plans.

Flexible benefits plans offer core benefits but allow employees to flex between various benefits including cash, life insurance, health insurance, vacations, retirement plans, pet wellness, and child care. Employees are looking for options in all areas of their workplace experience and flexible benefit plans give them that option.

This benefits approach enables employees to craft a benefits plan that suits their lifestyle.

Why Go for Flexible At Your Workplace

Sounds great for the employee but does this benefit the employer as well?

Employee Retention and Engagement

Right now, employers are competing for highly qualified employees. We could argue that we are always competing for top candidates but the watchword of the market right now is flexibility. For example, many employers are creating hybrid work plans for their employees.

Employees are also looking for non-traditional benefits like pet insurance benefits and critical illness. Offering your employees flexible benefits will help them feel supported. That makes them feel more engaged, an essential factor for efficiency and productivity.

Including a flexible plan as part of an offer to a prospective hire can tip the balance in your favor. It means that your dream candidate chooses your company and not your competitor. Though compensation is important to people, determining where they will work and their benefits contribute to feelings of empowerment and satisfaction. Opting for a flexible benefits plan might be vital to building your dream workforce.

A flexible plan will take the guesswork out of setting up a package. Traditional plans will not fit everyone in your workforce. Trying to make it work is impossible. Flexible plans allow you to avoid having to pick and choose.

Further, flex benefits allow an employer to keep benefits costs in check. Your employees will choose the benefits they want, and you will not be paying for benefits that are not used.

Employers are starting to make these changes because they care. Our experience with the pandemic showed all of us the things that matter. Employers care about their employees.

Studies show that employers feel responsible for their employee's health and wellbeing. 95% of employers think that they have some responsibility for the health and wellbeing of their employees. 67% of employers feel they are not doing enough about pensions and financial wellbeing.

There is a sea change happening fueled by anxieties around the pandemic. Employers who take steps to assist and support their employees may have a hiring edge in the future. More important, though, they will be creating an environment of cooperation and support that all employees would appreciate.

Pet Wellness Employee Benefits With Wagmo

Two out of three employees have reported higher stress levels since the pandemic began. To ease stress and loneliness, one in five households adopted a pet during the pandemic. These pets are still crucial to their humans. Many people will look at kenneling or sitting charges while away at work after the pandemic.

More employers are offering pet wellness programs to help their employees offset these costs. Wagmo's pet wellness programs are very reasonable. They go into effect the minute they are activated and they reimburse pet owners for ongoing expenses like veterinary visits and shots.

Wagmo wellness benefits plans are also flexible, too. Wagmo offers three levels of Pet Wellness plans and some plans even cover grooming costs.

Employers recognize that a stable and supported employee performs at their best. If you are an employer interested in offering their team flexible benefits and a Pet Wellness plan, contact us today for a demonstration.