The employment landscape has been changing faster than ever. With the Great Resignation still continuing and the Quiet Quitting gaining popularity, employers have become more challenging than ever to find and retain talent.
But recruitment and retention of employees aren’t limited to offering competitive pay. Surveys have shown that employee benefits play a vital role in candidates’ decisions to accept a job offer and employees’ decisions to stay or switch.
If you want to utilize the positive impact of offering in-demand employee benefits, working with an employee benefits consultant might help. Here are some more reasons to hire an employee benefits consultant:
They Help You Save Money
Most employers only calculate the amount they spend on retaining their employees. This makes them ignore the amount their employees help them earn and that they would miss out on in the absence of employees. Of course, the latter amounts are much greater. One study reported that companies lose up to three times more in employees’ absence than they spend on their retention.
With an employee benefits consultant on board, you can make the most of your spending on employees’ salaries and benefits. They can help you offer the most essential and preferred employee benefits to increase your profits while keeping employees happy.
They Assist in Your Business’s Growth and Evolution
Employee benefits consultants help you strategize your business’s recruitment and retention policies to make them more effective. This helps your business stay prepared for the evolving employment landscape and keep up to date with the employees’ changing needs and demands.
It will also allow you to establish greater trust with your employees. Employees appreciate when employers are aware of and understand what they need. For example, after the covid-19 pandemic, mental health benefits have gained high popularity among workers. Offering this and other in-demand employee benefits will convey to your employees that you are ready to fulfill their needs. Establishing trust with your employees can significantly contribute to your business’s growth.
They Increase Recruitment and Ensure Retention
Employees leaving their jobs isn’t stressful to employers alone. Unemployment can be difficult to navigate in the current economic times. Employees also have to go through job search, probation and adjustment periods, and the ordeal of proving themselves all over again.
Hence, employees are always willing to stick to a job to avoid the hurdles of quitting. You can make retention the obvious choice for your employees by offering them exactly what they need with the help of an employee benefits consultant. Practical employee benefits can also increase your business’s recruitment success. With old talent sticking around and new talent joining your business, you can successfully increase your recruitment and retention rates.
Employee benefits consultants can help you achieve all three of these benefits in a cost-efficient way through their strong professional networks of vendors, carriers, and employee benefit organizations. Lastly, they also help you save considerable time you would otherwise have to invest. So outsource this essential job of keeping employees happy and focusing on your business’s growth without fearing Great Resignation or Quiet Quitting.
