Director of Marketing
Talent Attraction and Retention
Developing a strategic benefits package that targets specific types of employees can help attract the right job candidates to keep your organization running at peak efficiency.
Once you have these top-performing employees, a tailored employee benefits package will serve as a barrier to them leaving—a great benefits package can be a huge advantage when looking at retention strategies because it holds more than just monetary value for the employee. A bigger salary at another organization likely won’t be as strong a pull for an employee tempted to leave if the other organization’s benefits package isn’t as attractive as yours.
Healthy, Productive Employees
Healthy employees are more productive than unhealthy employees. When your benefits package includes a combination of health insurance, along with wellness programs and incentives, and dental and vision insurance coverage, your employees are provided the tools that will empower them to take an active role in managing their health. It is proven that having the correct programs and incentives in place, reduces absenteeism in the workforce.
A good benefits package leads to satisfied employees with higher morale. Employees who find value in their benefits are typically more loyal because they feel valued—which leads to increased productivity and contributes to decreased absenteeism.
Efficient Use of Resources
Many employees are willing to accept good benefits in lieu of a slightly higher salary. This strategy may prove positive to your organization’s budget. Through group rates, the value you present to employees with benefits can be more cost effective than paying a higher salary, thus providing savings along with lower payroll taxes.
Align Your Corporate Strategy
When HR professionals look toward the future, they are evaluating strategies to help manage both short and long term costs. Organizations that align their corporate objectives with their benefits strategy will ensure that the philosophy behind offering the right type of benefits programs will attract and retain the top performing employees they are looking for.