Title: The Impact of the COVID-19 Pandemic on Employee Benefits
Author(s) : Olivia Smith, Barry Friedman
The COVID-19 pandemic profoundly impacts the economy, workplace and society. Employees have endured physical and mental health hardships as well as income insecurity. Progressive organizations and governments must address these challenges with short and long term initiatives. This paper reviews how organizations have modified employee benefits to attract, motivate and retain employees during this crisis and proposes what organizations must do to better prepare for future disruptions. A conceptual classification employee benefit model is first presented that includes: security (e.g., workers' compensation), retirement, healthcare, financial (e.g., financial counseling), family benefits (e.g., FMLA), and time-off (e.g. sick days). Recent literature is then reviewed using this classification. Human Resource executives will then be interviewed to ascertain future trends that address future workplace disruptions. Implications for organizations and employees are then provided.