Attracting and Retaining Top Talent With Benefits

Hiring and keeping top talent has become increasingly difficult, and human resources professionals are beginning to leverage employee benefits as a recruitment and retention tool. According to a 2016 study by the Society for Human Resource Management (SHRM), health care benefits are most important to employees, with 95% stating it is currently most important to them and 89% stating it is most important to them in the next 3 to 5 years. This provides great opportunity for HR professionals to meet the needs of their employees and provide customized solutions that address all of their requirements.

Leveraging benefits strategically can be the perfect tool towards attracting top talent. In fact, some benefit packages like Ultimate Health are specifically designed for top talent, giving them tax incentives and 100% back on healthcare coverage. Plans like these go above and beyond the norm to really take care of executives and upper management. Some of these benefits include private hospital rooms, LASIK, brand name prescriptions, adult orthodontia, and more.

“Organizations that have already started to alter their benefits to aid in retention may have a strategic advantage,” said Karen Wessels, researcher for workforce planning at SHRM. “As early adopters of new benefits, or by finding innovative ways to leverage their existing benefits, organizations that are acting now may be able to reaffirm a positive employer brand before competition for talent gets even more intense.”

The survey also revealed that nearly 1/5 of HR professionals altered their benefits to aid in the retention of employees over the past twelve months, and of these, 3/5 altered their health care benefits.

The proper benefits package can ultimately be more powerful than bonuses. To learn more about how to customize benefit solutions for your employees or executive benefits packages, feel free to Contact Us!

Categories: Employee Benefits

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