Quick look: 2022 was a busy year for brokers and clients alike. Attracting and retaining employees continued to be a focus, tailored benefits became increasingly important, and several relevant legislative updates occurred. Here we review our top five most-read broker blogs this year, which reflect these trends and will continue to help brokers guide their clients in the new year.
2023 is almost here, and it’s time to reflect on what affected clients the most this year and how the broker community met those needs. From legislative changes to a focus on personalized benefits, this year’s top HR and employer trends were mirrored in our most popular benefits broker blogs in 2022.
These five most-read ExtensisHR broker blogs spotlight topics that will continue to guide brokers as they help their clients craft HR solutions in the new year.
SECURE 2.0, or the bill that will open the door for greater savings opportunities as people plan for retirement, was big news this year and topped the list of our most popular broker blogs.
Still pending, the bill includes several proposed changes designed to enhance savings opportunities for staff:
- Matching of student loan payments with 401(k) contribution
- An increase in catch-up contributions for older employees
- Qualification of part-time workers for employer retirement plans
- Tax credits for small- and medium-sized businesses (SMBs) setting up retirement savings for employees
As clients prepare for potential upcoming benefits mandates and rules, brokers should brush up on everything SECURE 2.0 entails.
It’s become crucial for clients to have a diversity, equity, and inclusion (DEI) policy in place. According to MetLife’s U.S. Employee Benefit Trends Study 2022, “The Rise of the Whole Employee: 20 Years of Change in Employer-Employee Dynamics:”
- 74% of employees are interested in DEI and/or affinity groups when deciding to accept a new job (a substantial increase from the 48% reported in 2021)
- 65% of staff expect their employers to promote DEI within their organizations
- When looking at specific subgroups, those percentages increase:
Clients may not know that offering a health savings account (HSA) can significantly contribute to their DEI efforts by helping battle today’s financial and medical inequalities. Find out how to help your clients do that in this informative blog.
Our third most popular broker blog in 2022 revolved around workplace trends for the year (don’t worry, we’ll be covering the 2023 trends, too).
While these trends made headlines in 2022, they will likely continue to affect workplaces as the new year unwraps and include:
- A strong focus on employee engagement and workplace culture
- Remote and hybrid work models
- An ongoing competition for top talent
- Investing in existing employees
- Tailored benefits offerings
- DEI efforts
- And more
The awareness of mental health, and relevant benefit offerings, skyrocketed this year. Wellable Labs’ 2022 Employee Wellness Industry Trends report states that during 2022, 90% of employers increased their investment in mental health programs, 76% upped their investment in stress management and resilience programs, and 71% boosted their investment in mindfulness and meditation programs.
This emphasis on a healthy mind is likely to remain, and this blog reviews how brokers can leverage the following to help their clients build a culture that supports mental wellness:
- Employee Assistance Programs (EAP)
- Meditation and mindfulness mobile apps
- Flexible work policies
- Telemedicine services
- Family stress management investments
- Additional paid time off (PTO) perks
This open enrollment season may have come to a close, but it’s never too early to start preparing for the future and showing that your clients’ success is on your mind is a great way to reiterate your importance as their trusted advisor.
Our fifth-most popular blog this year explored the following best practices for brokers as they ready their clients for open enrollment:
- Establish the basics, like:
- Have there been changes in your clients’ workforce?
- How do their employees value benefits?
- How do they handle benefits communications?
- Make the guidance feel personalized by advising on current trends and recommending relevant voluntary benefits
- Start the process early because crafting the customized benefits packages clients want and need to succeed in today’s business environment is an ongoing effort
A partner to lean on all year long
With 2023 rapidly approaching, the time is now for brokers to prepare for the trends and changes that the new year will inevitably bring. The right professional employer organization (PEO) can help them do that.
A PEO, like ExtensisHR, adopts a broker-centric philosophy by keeping a pulse on the latest industry news and how it affects your clients and your business. PEOs also provide a complete portfolio of HR solutions designed to meet your clients’ changing needs, including:
- Benefits administration and management, including a variety of Fortune 500-level plan options
- HR guidance on the latest workforce trends
- Payroll, tax, and risk and compliance experts who stay up-to-date on current regulations
- A mobile-first Work Anywhere® HR platform
- PEO Premier®, a fully managed, concierge approach to HR
Start the new year strong by partnering with a trusted PEO. Contact the experts at ExtensisHR to get started today.