Newsroom > Company News > Innovation > VSP Vision Releases Report on Future of Benefits
RANCHO CORDOVA, Calif. – Today, VSP Vision™ announced the release of ‘The Future of Benefits,’ a new report created by VSP Vision’s Global Innovation Center (GIC) that outlines the evolving workforce shifts driving changes to the way employee benefits are accessed and distributed. The GIC is VSP Vision’s lens into the future and is where the organization researches emerging technologies, pilots and tests new products and services, and makes strategic connections within the innovation ecosystem.
"Employers are adapting their benefits programs to support the increase of distributed and often bifurcated workforces,” said Global Innovation Center Senior Director Ruth Yomtoubian. “This report captures the renewed innovation aimed at future of work investments, which will reach nearly $1 billion this year, and is not only a resource for VSP, but also for our clients and partners to help stay at the forefront of advancement in benefits offerings."
Here are five transformative findings from the research:
1. Hybrid work has increased demands for lifestyle benefits. The changing nature of work has expedited the introduction of benefits designed to complement and support remote and hybrid work, such as mental health services to combat burn-out, flexible travel, and upskilling platforms.
2. Workers need benefits to meet their unique stage-of-life. The U.S. workforce has never been more diverse in age and new stage-of-life benefits, such as student loan forgiveness tools and family planning resources are emerging to address specific generational needs.
3. Employees want more access to navigate benefits menus. Today, 85 percent of workers are confused about their coverage options, but employees are no longer settling for benefits hidden inside of portals. The future will be in leveraging new technologies, including navigation platforms, and earned wage access services, to access benefits more seamlessly and when, where, and how employees want.
4. Employees are looking for at-home benefits. While employees are in the office, hybrid, or fully remote, the home is still the center of gravity for many workers, with benefits providers adopting features to allow for at-home utilization, such as remote patient monitoring or on-demand home office services – nine of ten health systems plan to offer home-based models for primary and specialty care in 2023.
5. Gamification helps increase engagement and utilization. Employers are deploying gamification techniques and technologies to increase engagement and benefit utilization where 69 percent of workers are more likely to stay at a company for 3 or more years when gamification is in place.
“The findings in this report prove that the future of benefits lies in responsive, individualized offerings that address employees’ unique evolving needs,” said VSP Vision Care President Kate Renwick-Espinosa. “It’s validating to see that VSP Vision Care is addressing many of these needs for our clients and members today and we look forward to using this research to ensure we remain on top of developing trends.”
To learn more about VSP Vision’s Global Innovation Center, visit vspvision.com/innovation.
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About VSP Vision At VSP Vision™, our purpose is to empower human potential through sight. As the first national not-for-profit vision benefits company, this is what drives everything we do. For nearly 70 years, VSP has been the leader in health-focused vision care. Every day, the people that power our complementary businesses—VSP® Vision Care, Marchon Eyewear, Inc., Visionworks®, Eyefinity®, Eyeconic, VSP® Optics, and VSP® Ventures—work together to create a world where everyone can bring their best vision to life. That means providing affordable access to eye care and eyewear for more than 85 million members through a network of more than 41,000 doctors. It also means expanding access to vision care to those disadvantaged by income, distance, or disaster through VSP Vision™ Eyes of Hope®. To date, more than 3.8 million people in need have received access to no-cost eye care and eyewear through one of our Eyes of Hope programs. Learn more about how we’re reinvesting in greater vision, health, and opportunities for all at vspvision.com.