Benefits at top of employees' payroll priorities
Employers continue to attract and retain employees with benefits despite economic turbulence, according to a survey by MetLife.
The majority of companies believe that benefits packages remain a great way to motivate employees. Ninety-one percent said providing them can help retain employees, 86 percent said they can boost productivity and 80 percent believe it can help with employee recruitment.
It seems that employees agree. Approximately half those surveyed said they count on the programs to help with financial protection needs, while the portion expands to two-thirds of younger employees just getting started in the workplace.
"The workplace has changed rather dramatically over the last decade … However, employers’ top benefits objectives have remained consistent, and the study highlights ways employers can evolve their strategies to cost-effectively attract and retain a talented and productive workforce," said Anthony J. Nugent, executive vice president, MetLife.
Most employers are holding onto benefits plans to achieve their objectives, such as employee recruitment, while only 10 percent indicated plans to reduce programs. Companies can invest more in these incentives without spending more time and extra money by taking advantage of human resource outsourcing. The service providers can handle payroll paperwork, employee recruiting and offer small companies access to better benefits.
The majority of companies believe that benefits packages remain a great way to motivate employees. Ninety-one percent said providing them can help retain employees, 86 percent said they can boost productivity and 80 percent believe it can help with employee recruitment.
It seems that employees agree. Approximately half those surveyed said they count on the programs to help with financial protection needs, while the portion expands to two-thirds of younger employees just getting started in the workplace.
"The workplace has changed rather dramatically over the last decade … However, employers’ top benefits objectives have remained consistent, and the study highlights ways employers can evolve their strategies to cost-effectively attract and retain a talented and productive workforce," said Anthony J. Nugent, executive vice president, MetLife.
Most employers are holding onto benefits plans to achieve their objectives, such as employee recruitment, while only 10 percent indicated plans to reduce programs. Companies can invest more in these incentives without spending more time and extra money by taking advantage of human resource outsourcing. The service providers can handle payroll paperwork, employee recruiting and offer small companies access to better benefits.
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