National Employee Benefits Day is held every April on a day that’s communicated on the month. This day was created to appreciate the hard work and planning done by the team of employers who strive towards providing benefits to their employees that make a helpful change in their lives. It has been almost 80 years since the employee benefits programs were introduced in the workspace. Having these kinds of programs leads to motivated employees who work to ensure their organization’s goals are being met.
History of National Employee Benefits Day
Employee Benefits refer to the perks and benefits employees are given at work, in addition to their regular salaries. These can be things from leaves, loans, insurances, allowances, travel coupons, daycare facilities, etc. Employee benefits are said to be the number one factor that drives employees to do their best at work and makes them want to continue working in the company. They bring positive changes in their personal lives, ultimately improving their work life. It is a crucial aspect that managers and administrators consider to improve the work-life balance of their employees.
The origins of providing employee benefit programs might have started in the early twentieth century. In 1935, the Federal Insurance Contribution Act (FICA) was introduced, which ensured that retirees and people with disabilities received social security and medical care. In 1944, the Philadelphia charter declared that labor should not be considered a commodity. During World War II, the term ‘fringe benefits’ was introduced. It referred to the different indirect benefits the industry provided its workers to retain labor as the economy had plummeted and an increase in daily wages was not possible. In the U.S., a type of benefit plan named ‘cafeteria plans’ could be given by the corporation to its employees. The plan allows employees to choose from the various benefits schemes.
The American Rescue Plan Act (ARPA) was introduced in the U.S. in 2021 as a relief bill that ensured subsidies and pension plans. National Employee Benefits Day was created to show appreciation to the people who make sure employees get the correct benefits and work towards a healthy work environment for all.
National Employee Benefits Day timeline
The Federal Insurance Contribution Act is introduced to push for employees' social security and medical care.
The term fringe benefits emerge and is used to refer to the indirect benefits given by industries.
One of the key principles of the Philadelphia Declaration is that labor cannot be considered a commodity.
The day is created to recognize the efforts of the authorities who design and provide benefits to employees that make a difference in their lives.
National Employee Benefits Day FAQs
What are the five major employee benefits?
They are medical insurance, retirement benefits, stock options, wellness initiatives, and educational incentives.
What are personal days at work?
Personal time off at work refers to the leave employees can take in addition to vacation days and sick leave for emergencies or for jury duties.
What are floating holidays?
Floating holidays are paid days employees can choose when to take. They are called floating holidays because the date is not fixed and it is up to the employee to decide when to take it.
National Employee Benefits Day Activities
Raise a toast
Raise a toast to all the people behind the amazing employee benefits you have at work. If you know someone who works in that field, extend your gratitude and well wishes.
Share it on social media
Let everyone know the importance of this day. Take pictures of yourself celebrating National Employee Benefits Day at work and share them on your social media page.
Spread the word
You can organize meetings and webinars and discuss the various planning and strategies that go into providing the best employee benefits at work. Educate people on various schemes and how they can improve their work life.
5 Facts About Employee Benefits
Health insurance is most preferred
A study showed that about 45% of the people wanted health benefits included in their employment package.
Healthcare is expensive
The average American spends seven times more on healthcare compared to their spending on gas.
The need for paid time off
One in two women and one in four men have been shown to prefer paid time off (PTO).
Miscellaneous benefits are important
About 30% of the people in a study said that they wanted benefits like gym memberships and restaurant coupons.
Benefits are not as reviewed
Some studies show that on average people spend 1.3 hours reviewing their benefits and 4.5 hours on their shopping list.
Why We Love National Employee Benefits Day
We get to appreciate the masterminds
A team of administrators and trustees work together to provide the best employee benefits packages. This day is a chance to thank them.
We get to review our benefits
We often take things for granted and forget to review our benefits package carefully. Examining the package can make sure that you get the best for yourself and your family.
We can help create awareness
This is also a time to learn and educate. This day allows employees, especially at a senior level, to inform and guide their colleagues on how to select the best benefits package to improve their work and personal life.
National Employee Benefits Day dates