Smart, capable employees don't come around everyday. That's why it's crucial for companies and their human resources teams to implement comprehensive strategies to keep these workers on board for as long as possible. Improving their retention techniques and statistics will only make the business more attractive to other valuable candidates in the future while keep current employees satisfied with their role and their employer. Often, organizations will use their benefits offerings as a way to entice people to stay. Let's look at how they complete this task:
Communicate from the beginning
While receiving news of enhanced benefits after being with a company for a few months or even a year may be enough to retain some employees, businesses should make it their priority to clearly detail all offerings at the start of the relationship. Potential workers will want to know what perks an organization provides during the recruitment process. This is a factor that can make or break their decision.
A well-rounded package can even outweigh salary for some employees. According to an Aflac study, almost 60 percent of people are willing to accept a lower salary for better benefits. By detailing current perks, as well as how the company hopes to remain competitive with their benefits, HR teams can find and keep strong applicants.
Ask people what they want
Some employees may vote for a company cafeteria where they can go to get a hearty breakfast, others may opt for adding dental coverage to their benefits. Each worker will have his or her own opinion on what will make a company more attractive to them and future hires. HR executives should ask their constituents what's most important to them before adding any extra perks to what they already provide, according to Entrepreneur. Not only will this demonstrate company leaders' interest in their employees' wishes, but it will ensure benefits offerings are meeting the needs of people who use them, instead of the recommendations of outside sources.
Companies around the world use their benefits offerings as leverage to keep talented employees with their organization. While healthcare is often the largest perk that is used, businesses have provided retirement savings and planning to retain their workers, according to a study from the Society of Human Resource Management. It's important for communication surrounding these packages to begin during the recruitment process and include employee feedback for best results.
Triton Benefits can assist companies in creating a unique, but complete benefits package for their employees. With the help of a team of licensed brokers, Triton Benefits ensures businesses remain compliant with government standards and competitive with their opponents in health offerings.