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HUB 2023 WORKFORCE ABSENCE MANAGEMENT SURVEY SHOWS ABSENCE MANAGEMENT POLICIES KEEPING PACE WITH TODAY'S WORKFORCE
News provided byHub International Limited
Sep 19, 2023, 8:00 AM ET
Study Points to Leveraging Personalized Benefits Strategies for Talent Management and Workforce Productivity
CHICAGO, Sept. 19, 2023 /PRNewswire/ -- Hub International Limited (HUB), a leading global insurance brokerage and financial services firm, released the HUB 2023 Workforce Absence Management Survey, a national study focused on small- to mid-sized employers. The findings reveal new benchmarks for employers to consider in managing the impact and opportunities of more refined absence management policies and practices to improve employee productivity and engagement.
"Managing employee absences has become more complex with the continued shift of hybrid work and changing employer perceptions on paid time off, paid sick leave and parental leave," said Andrea Goodkin, HUB People & Technology Consulting Practice Leader. "HUB's Workforce Absence Management Survey findings will encourage employers to consider a personalized view of their benefits and absence management programs to support the overall wellbeing of their employees, which in turn will foster a happy, healthy and productive workforce that can help their employer continue to succeed."
Key highlights from the study
- Additional paid holidays take hold. Nearly one-quarter of employers have increased the number of holidays offered, compared with 14% in 2021*. Worth mentioning is that 24% now have Juneteenth as a paid holiday, compared with only 5% two years earlier.
- More PTO becomes standard. Twenty-three percent of organizations modified their existing paid time off (PTO) programs, and of those, 56% increased the number of paid time off days provided. Companies that increased PTO cited taking care of employees as the top reason for extending this benefit, followed by the desire to be more competitive in recruiting and retention.
- PPL continues to expand. More than one-third of respondents increased their parental leave (PPL), while 64% made no changes.
- FMLA and leave administration remain the same. Similar to results from the 2021 survey, 90% of employers are eligible for FMLA requirements, with 70% discontinuing group benefits at the end of the month that FMLA expires.
About the HUB 2023 Workforce Absence Management Survey
More than 500 small- and mid-sized employers with 50-1,000 employees participated in HUB's survey, providing information on their current absence programs. Download HUB's 2023 Workforce Absence Management Survey to learn more.
*Year of last HUB Workforce Absence Management Survey
About Hub International
Headquartered in Chicago, Illinois, Hub International Limited is a leading full-service global insurance broker and financial services firm providing risk management, insurance, employee benefits, retirement and wealth management products and services. With more than 17,000 employees in offices located throughout North America, Hub's vast network of specialists brings clarity to a changing world with tailored solutions and unrelenting advocacy, so clients are ready for tomorrow. For more information, visit Hub Media Center.
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SOURCE Hub International Limited
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