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.
Diego Ramirez
Multinational client segment and
Mercer Marsh Benefits Latin America and Caribbean
Many traditional benefit plans assume a linear life pattern, where an “average” employee gets married, buys a home, builds a family, and retires.
This means that health and well-being benefits often fail to take account of racial, ethnic, sexual orientation, gender identity, income, or country of origin, among other dimensions.
As such, health, risk protection and well-being benefits are far behind 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.
Although 81% of employers are focused on improving diversity, equity and inclusion, only 38% of businesses actually have a multi-year strategy in place to achieve this.1
Employers must take care when designing plans and understand that a one-size-fits-all solution will not work.
[1] Mercer. When Women Thrive, Businesses Thrive, 2020. Available at: https://www.mercer.com/our-thinking/when-women-thrive.html
Download MMB’s paper to discover the four-step process to lead the way on inclusive benefits.
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