Employers evaluating their benefits packages
Finding, keeping good workers has become a bigger challenge
In 2021, according to the U.S. Bureau of Labor Statistics, over 47 million Americans voluntarily resigned from their jobs.
These resignations occurred for a variety of reasons: retirement, reconsideration of career paths, compensation/benefits, and many others, including family considerations.
This significant resignation has left many employers short staffed, struggling to maintain regular hours of operation and working tirelessly to attract new talent to join their teams.
Business owners are thinking creatively about ways to find and retain quality talent, which includes evaluating their benefits packages.
In a recent Society for Human Resource Management employee benefits survey, the following was uncovered as feedback from employers:
- Nearly all organizations surveyed (98%) offer some type of health care coverage.
- 82% of employers ranked retirement and savings as a significant benefit.
- 94% of employers are offering a traditional 401(k) and 68% are offering a Roth 401(k).
- Employers are evaluating and implementing family care, flexible work, and professional development.
Continuing to assess and improve the benefits package offered to employees speaks volumes about creating a culture of care in your workforce.
It is a clear differentiator when people are considering new employment and evaluating current employment.