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Employers want to attract and retain top talent — and they are funding HR budgets to do it.
A new national survey of more than 4,200 employers reveals they are spending more on benefits packages because of the hot job market.
The Gallagher Benefits Strategy and Benchmarking Survey is conducted every year by Arthur J. Gallagher & Co., a United States-based insurance company. In this blog post we’ll share the major trends revealed in the survey.
Winter’s a jolly time for outdoor activities if you don’t mind the cold temperatures.
But winter can also be a tough time for even your most engaged employees. The cold weather, lack of sunlight and shorter days can cause harm to both the body and mind. At its worse, some people may be dealing with Seasonal Affective Disorder, a type of depression that can mean trouble sleeping, loss of interest and even hopelessness, according to the Cleveland Clinic.
There are very few businesses that can shut down for the winter, though. Here are some things you can do to keep your employees engaged during what many think of as the most dreadful season.
Salary is the most important thing to keep people happy at work, right?
Maybe not.
Ask 2,000 people what makes them happy in a job and you get some interesting answers. Lexington Law, a Utah-based credit repair firm, recently did that to find out what people valued in a job. Salary didn’t top the list, surprisingly.
There’s not a day that goes by where you can’t log into Twitter or LinkedIn and see a new article about the hot trend in employee benefits or commuting.
What matters most is what trends stick around. Earlier this year, the Society for Human Resource Management published its 2018 Employee Benefits survey with HR professionals. It benchmarks the prevalence of 300-plus benefits over a five-year period.
About 285,000 human resources professionals were asked what benefits they had offered, and what they planned to offer over the next year. The results were compared to previous surveys to see benefits are increasing, and which are on the decline.
Here is a look at the survey’s results:
Do you think you know what your employees want in a benefits package?
Companies go to great lengths to attract the best talent for their teams. But it can all go downhill at an alarming rate once a new employee shows up for work.
Check out these statistics:
Open enrollment for insurance and other benefits does not have to be stressful for HR folks or employees. However, study after study shows it can be a losing effort.
How many “work perks” do you offer your employees?
Work perks are often considered the fringe benefits that can go beyond employee health insurance and other traditional benefits. They are rapidly becoming popular with employees because they have a meaningful impact on their lives.
In 2018 survey of 600 small and midsize businesses, 68 percent said the work perks a company offers is just as important as traditional benefits.
Millennials and Generation Z workers are likely to favor work perks as well, and many employers have had to rethink employee benefits to attract and keep the best talent in the workforce.
The survey was conducted by HR software company Zenefits. In it, more than 70 percent of the people said they “strongly agree” or “somewhat agreed” that fringe benefits would be an important factor for them when they looked for future employment.
The fringe benefits, like commuter benefits, can be very beneficial to an employer. They may not cost as much as traditional benefits like health insurance. Companies that are savvy can use them to attract top talent without having to spend a significant amount of resources to administer them. If offered, they can make a smaller company’s benefits package competitive when compared to a larger company.
So what work perks do employees want? Here are 3 work perks gaining momentum with employees.
There are hundreds (maybe thousands) of books written on negotiation. You can read them all, and when it comes time to do it, it’s still not easy.
If you are moving into a new job, though, it’s the right time to summon the courage and ask for more than what’s in your initial offer.
A recent survey of 3,000 employees at small and medium businesses revealed “unconventional benefits” can go a long way in helping them be satisfied in the jobs.
Since it’s becoming harder and harder to keep employees in jobs, it’s forcing employers to look beyond traditional benefits like health and dental insurance, and start focusing on the unconventional.