COVID-19 has demonstrated the need for better equity as minority groups have been disproportionately affected by the virus. We are urging employers to step up and create inclusive benefits as part of their diversity, equity and inclusion strategy.
Diversity, Equity and Inclusion (DEI) has become an imperative for every organization. Offering benefits that meet the needs of a diverse workforce is key to attracting and retaining the right talent.
Many traditional benefit plans assume a linear life pattern, where an “average” employee gets married, buys a home, builds a family, and retires. As such, health, risk protection and wellbeing benefits do not meet the reality of a diverse workforce.
Firms must adapt strategies and introduce benefits that support all employees, including people of color, women, LGBTQ+ individuals, veterans, immigrants, and people with disabilities.
We’ve developed a four-step process to help guide you in developing an inclusive benefits strategy:
Define minimum standards
Create a long-term plan
Challenge the status quo