It’s no secret, employees consider employee benefits a part of their compensation. Studies show that over 50% of employees would change jobs for one with a better benefit package, even with up to a 10% reduction in pay… (Ouch!)
What are your goals when deciding to make a benefit offering to employees? Do you view your benefit package as a drain on cash flow or an investment with an expected ROI? What are you trying to accomplish? Is your current approach getting you there?
Your goals should dictate your plan design and implementation strategy. A good benefit package should:
- Increase morale and thus productivity;
- Increase employee retention;
- Promote employee engagement;
- Lower training and other acquisition costs;
- Attract a better caliber employee;
- Reduce Workers Compensation usage and associated costs…
…allowing you to over-perform your strategic goals, plans and objectives.
Providing a relevant, cost-effective benefit package isn’t always easy. That’s where we come in… whether you need a standard design or an out-of-the-box creative approach and whether you have a large budget, no budget or anything in-between, we can help. That’s our specialty… getting those “✔’s” working in your favor.
Let’s do the math…
Studies show, a good benefit package increases morale. Increased morale increases productivity and reduces turnover.
Increased morale = Better Productivity.
Better Productivity + Reduced Expenses = Greater Profit.