Over the past 12 months, most companies have increased their benefits to remain competitive, with health and wellness seeing the largest increases according to the Society for Human Resource Management. Here are seven ways that your company can increase competitiveness by taking advantage of Employee Benefit Reports.
- Stay on-trend. To compete in the marketplace for the best employees, providing on-trend benefits is one way to ensure that potential employees will take a close look at your company. With prepared reports, potential employees never have to guess at what you have to offer.
- Increase the perception of the value of your benefits. When you write out your benefits for employees in an Employee Benefit Report, while it does not increase the dollar value, many employees will have the perception that their benefits are worth more – and this added benefit can be achieved with negligible expense.
- Improve your employee morale. One thing is clear: happy employees know their worth, and nothing says it better than a clear presentation of all the benefits each employee receives.
- Use your Employee Benefit Report to attract and retain employees. For many employees, benefits will contribute up to 43% of an employee’s base pay. When you want to attract or keep the best talent, showing them what they can expect will help them to see their importance and to see their quality of life while working at your company.
- Reduce the use of sick days and other absenteeism. It might seem counterintuitive but presenting your employees their benefits relating to the sick day policy and others regarding paid/unpaid time off has been found to reduce, among other things, employee sick days.
- Consistent engagement. Once you have done all the work to bring in the best of the best, keeping that talent and improving production requires a strong team. You can leverage your Employee Benefit Report by using it to engage employees through questionnaires, team building, hosting Q&A meetings (during and after office hours), and other events that show those changes in rollouts of new Employee Benefit Reports.
If you’re ready to take the next step, you may find it’s easier, and less expensive than you imagined. Check out Employee Benefit Reports from COMPackage. There’s even a 30-day full-refund guarantee if you’re not fully satisfied.