Can Employee Benefits Help Retain Staff
Recent reports have suggested that companies that rely solely on employee loyalty to retain staff could be in for a bit of a shock. It’s believed that worker loyalty is slowly declining year after year.
It is important that employers take some action now. Going on a recruitment drive can be expensive with things like placing job ads, driving up costs.
Employee benefits are now becoming a major factor in retaining staff. A very good employee healthcare scheme could be the clincher when and if one of your workers weighs up their options.
A study by MetLife found that workers who are highly satisfied with their benefits are more likely to be satisfied with their jobs and also reported feeling more loyal towards their employees. Salaries and wages are obviously the main factor of employee loyalty but many employers are overlooking just how much offering extra benefits can impact an employee’s willingness to stay put.
For example are you covered for time lost by an employee, as well as the cost hiring temporary staff to replace that person?
