Our June HRx webcast highlighted several new trends and strategies to help organizations retain their workforce and recruit new employees.
One of the most important takeaways is relying on a Total Rewards/Benefits Strategy that aligns with employees’ needs. We have seen a 32% increase in the number of employers who have enhanced their benefits offerings to remain competitive in the war for talent. Additionally, more and more benefits plans reflect unique offerings geared for members of multi-generational organizations. As an example, the results of the 2019 SHRM Employee Benefits Survey report the number of employers who help employees pay their student loans has doubled in the past couple of years. UNUM, a provider of ancillary and voluntary benefit products, has embraced this approach and offers employees the opportunity to use their rollover PTO days to help defray the cost of student loans.
We are also seeing more organizations launch employee benefits initiatives that offer:
- flexible work arrangements and schedules
- parental leave
- pet insurance coverage
- wellness programs
- pre-retirement planning.
Though having more choice in benefits selections may mean higher employee premiums, 60% of employees surveyed by New England Enrollment Strategies indicate they are willing to pay more to have greater benefit options. If you missed the live webcast, you can watch it here.
Our next HRx webcast will feature a conversation with Dr. Peter Langton, who will discuss Optimizing Employee Engagement. Dr. Langton is Executive Vice President at Pierce Aluminum and holds a bachelor’s and master’s degree in psychology and a doctorate in organizational leadership. The program will be streamed Thursday, September 5th and run from 11:00 am to noon. Register now!