Nontraditional Benefits More Common as Workplace Evolves

Employers are increasingly turning to innovative ways to improve recruitment and retention with renewed interest in family formation benefits, onsite childcare, telehealth, and even pet insurance.

A new Milliman report found:

• 38% of employers are currently offering pet insurance, and another 37% plan to offer it in 2023;
  
  
• 71% of employers are offering tuition reimbursement and 64% are offering financial well-being services; and
  
  
• Compared to five years ago, an additional 23% of employers are providing free onsite snacks and meals.

Outlook: Nontraditional benefit innovation will continue to increase as employers seek to differentiate themselves in the war for talent and as Gen-Z enters the workforce in greater numbers.