Connecting sustainability and benefits programs
Earth Day 2023 was tag lined, “Invest in Our Planet,” what better way to consider investments to support sustainability than through an employer’s benefits program. When you think about ways to respond to employees’ and customers’ increasing expectations that your business be more sustainable, your employee benefits program probably isn’t the first thing that comes to mind. But it’s worth a second look.
Chances are sustainability is already a high priority for your business or it soon will be. WTW’s 2022 Best Practices in Healthcare Survey found that while 50% of employers currently view climate as a high to moderate priority, that percentage jumps to 64% over the next three years.
Employees are also paying attention to sustainability. According to WTW’s 2022 Global Benefits Attitudes Survey, 45% of employees say environmental issues are a high priority to them. In the race to attract and retain talent what can you do environmentally to appeal to employees?
As employers review their benefits programs and perks, many benefits are already being provided and can be connected to sustainable practices that support the environment. Below are four ways you as an employer can invest in the planet for employees, ranked in cost from little-to-no cost to higher investment.
These benefits represent just a few examples of initiatives that can support sustainable practices and are easily implemented and administered with a relatively minimal impact on employer spending. Further, they can augment your attraction and retention strategy and support employees in their pursuit of climate and sustainability initiatives. While these benefits focused on above are a great start, employers can also look to retirement plans comprised of a green portfolio to continue progressing the inclusivity and climate-supportive nature of their benefits programs.