3 ways to keep new talent
Key takeaways
Your benefits need to be relevant and accessible to engage and retain employees long term.
Congratulations! You landed the perfect candidate who was being courted by all your competitors and seeing a gazillion openings on LinkedIn, Indeed and Monster.
There’s always a chance your new superstar employee will be wooed away with promises of even more flexibility and stipends. According to recent post-pandemic surveys one in four employees say they would be willing to shift positions, especially if the benefits package appears more attractive. No pressure, right?
The good news is companies looking to support their employees’ wellbeing and boost satisfaction can offer a competitive suite of core and voluntary benefits, in addition to flexibility and ways of working that meet their specific needs. How do you take your package from basic to competitive?
Fill the gapsEmployee retention is heavily dependent on an employer’s ability to provide the right benefits packages, including those that provide income protection that health packages just don’t.
- Mental health benefits and programs are critical.
- Dental and vision are expected. Are they part of your plan?
- Ensure access to offerings that can help provide peace of mind to employees and their families when they must be out of work. And help them understand WHY they would want to reserve some of their hard-earned money for these important products. Give them the opportunity for more stability in the face of crisis or change with options for:
- Short-Term Disability,
- Hospital Insurance,
- Critical Illness
- Cancer
- Accidental Death & Dismemberment,
- Long Term Care
- Financial wellness is a concern, whether for employees who are nearing retirement and experiencing setbacks from high inflation, or who are in High Deductible Health Plans and concerned about how to cover expenses. Show your employees you care by offering access to resources and easy-to-access education. And be sure to consider these macroeconomic issues during benefits and wage planning.
- A healthier employee is more likely to be productive, and less likely to be a cost burden on your insurance premiums and company assets. By offering incentives for healthy habits, gym memberships and providing access to nutritional services you can keep employees at the top of their games.
Employees don’t have the time or inclination to sort through pamphlets and websites, and their benefits aren’t, well, benefits if they don’t know how to use them! Provide relevant information and education, and an engaging communication strategy that keeps benefits decisions and value top of mind.
The average American is bombarded by 5,000 ads or more a day on top of social media, text messages, and emails from the school about kids and bills. It’s important to put clear, concise, and actionable content in front of your employees repeatedly, and in places they are looking in their day-to-day work and lives.
How do you do it all?Partner with a vendor. If you’re scarce on resources for onboarding, navigating benefits enrollment, and ongoing administration, partner with a vendor like Optavise. Optavise offers a range of resources, from revolutionary technology to ongoing education, and advocacy services to help you and your workforce navigate ever-changing variables and regulations.