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♦ Happy employees tend to stay for the long haul.
♦ Employee benefits are a critical piece of the employee compensation puzzle
♦ Many employees consider time off, healthcare, and retirement benefits to be three of the most popular and important to their mental, physical, and financial health.
♦ If your company isn’t offering the items at the top of employees’ wish lists, then efforts to motivate and retain could fall flat.
The bottom line is that, employees will likely not leave a company for a small increase in pay if they feel their company appreciates and invests in them.
Though base compensation is one way to make that investment, a company-provided benefits program is another way to seal the deal.
Read more: The ROI of Employee Benefits Programs
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Intangible Benefits
♠ Improved job satisfaction.
♠ Positive impact on business metrics and profitability.
♠ Attract and retain employees.
♠ Reduce the number of sick days taken.
♠ Improve employee morale.
Source: 2015 by Optum and National Business Group on Health
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♠ Eliminates redundant and repetitive tasks in benefits administration.
♠ Significant paperwork reduction.
♠ Reduced benefits costs due to self-service efficiency.
♠ Reduced time – and ease of search – for doctors and providers.
♠ Reallocation of HR energies to handle organizational priorities.
