Search
 
News

How Employers Are Leveraging Benefits to Recruit and Retain Workers

In today’s tight labor market, the focus on employee health and well-being is a critical success factor for businesses’ recruitment and retention efforts.

By Sally Prather & Danielle Capilla | October 31, 2022 at 10:22 AM
Stock photo of office setting. (Photo: fizkes/Adobe Stock)

As the competition for top talent intensifies, employers across industries are being forced to reimagine the workplace to meet the needs and demands of today’s workforce. The physical and emotional impact of the Covid-19 pandemic, including the Great Resignation, has shifted the workplace dynamic, creating an employment market in which employees remain willing and able to leave their jobs for better opportunities. Strategic employers are responding, leveraging benefits to recruit and retain workers and bolster the organization’s employer brand.

HR professionals worked relentlessly throughout the pandemic, focusing on protecting the health and safety of employees and keeping their organizations up and running. Unfortunately, employers have received little reprieve in the pandemic’s aftermath and are now confronted with a war for talent and the need to differentiate themselves from their competitors. And the challenges don’t end there.

Cost containment remains top of mind as companies continue to face rising costs for medical plans and other benefits. According to Alera Group’s 2022 Healthcare and Employee Benefits Benchmarking Report, the cost of benefits tops the list of concerns for HR professionals related to human capital management (35%), followed by employee retention (32%) and recruitment (27%). The survey identifies key HR tactics that strategic employers are adopting to ensure sustainability and growth and to secure their position as an employer of choice:

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

Recommended Stories

Work-from-Home Rates Drop

Work-from-Home Rates Drop

Zachary Fleming, Redd Brown & Ignacio Gonzalez |

The proportion of Americans working remotely is the lowest since the start of the pandemic.

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2023 ALM Global, LLC. All Rights Reserved.