With an increase in demand for workers in almost every industry across the country, leaders are concerned with how to keep their current top talent. According to the Washington Post, about 4.4 million Americans quit their jobs last September, following another 4.2 million in October. Most employers are eager and ready to hire, but employees are considering their best options. As leaders, it’s time to look at concrete steps on how to keep your top performers – it’s time to examine your benefits.
Good benefits attract the best talent because timely and relevant support demonstrates a business’ willingness to invest in people. And if employees are content, they will be less likely to consider incoming offers, minimizing turnover. In short, benefits are paramount. The question is, which are key?
While there is an element of subjectivity in that answer, what’s clear is that leaders are starting to do a deep dive into which benefits to include or adjust. Harvard Business Review found that 98% of surveyed leaders plan, at minimum, to incorporate a new offer or enhance at least one employee benefit, prioritizing what employees deem most important.
That last bit is worth pausing on for a moment. While research is relevant, even necessary, it’s vital to start with your employees when pinpointing your next steps for company benefits. How are they doing? What do they appreciate about the current structure, and what is lacking? Listening to their input will speak volumes about any company’s leadership. While you may not be able to make every idea a reality today, this open line of communication helps employees feel heard, keeping them more engaged in their current position.
After those ever-important conversations, here are the four benefits we believe can be most beneficial for your business.
Hartford’s 2021 Future of Benefits Study reported that 70% of workers believe their mental health is just as important as their physical health. The good news is 59% have found their employers to be more accepting and supportive of assisting with mental health needs. Leaders set the tone and play a vital role in helping their employees, especially in this area.
This makes these efforts a positive endeavor for both the company and the employees. It may be as simple as having a conversation with employees to decipher some SMART goals (Specific, Measurable, Achievable, Relevant, and Time-Bound).
From those ideas of what employees want to accomplish, you can pinpoint ways you can help them, whether that’s getting your team connected with programs in local chamber of commerce groups, furthering education or certifications, or perhaps offering training and mentoring programs inside your own company. The sky is the limit with this one, but it’s important to continually ask how your business can be changing and evolving to help your people.
Hopefully these four benefits provide some encouragement and food for thought as you examine your current conditions. Naturally, there are more benefits to consider, more questions to ponder, and if you are looking to continue these conversations and find ways to strengthen and expand your workforce, we are here to help you with that important endeavor.