Archive for the ‘Total Compensation Report Software’ Category
by Joe Blattner | February 10, 2023
Finding reliable employees today is hard enough. There are many people, men and women alike, who are being forced to pass on their jobs because good daycare is too expensive, or it’s too difficult to find reliable childcare help. Many employed parents do not really have an option that ensures the safety of their children. A number of progressive companies that offered remote work for employees with children are willing to accept the challenge again and offer onsite daycare. They are doing what they need to do to get good employees back into the office.
Employees with children face the dilemma of earning a paycheck only to turn most of it over to their daycare provider. The amount of money many parents clear after this single transaction often won’t pay a utility bill, let alone provide substantial support for their family. They have two basic options. They can find a job that allows them to work remotely, or they can quit their job and go on financial assistance.
One of the biggest worries for many parents is that they are unavailable to their children while they are at work. Onsite daycare eliminates that worry, giving parents opportunities to connect briefly with their children and to be there for them in case of an emergency. Parents can check on their children at any time during the day giving them both peace of mind and security.
Offering daycare/childcare for parents who have small children can be a financial and emotional lifesaver that will allow your employee to give you their very best all day, every day. And consider how much this helps build loyalty!
You need not put the entire burden on the company. It is reasonable to require some co-payment from the employees using your daycare. But it will still be much more convenient, and cost far less than a household would have to pay themselves.
Be sure to learn your state’s regulations concerning childcare. Before you open the door to onsite childcare/daycare, learn as much as you can about your state’s regulations for the childcare industry. There are rules, but nothing too onerous that companies can’t manage.
Instead of turning away some of the best workers, give them what they need to be successful. Providing quality childcare to parents who need it the most gives you an opportunity to explore what talent is actually available. They get to earn (and keep) the majority of their paycheck, and you have access to a workforce who is grateful to be able to provide for their family.
Whatever benefits you choose to provide, total compensation reports, like those from COMPackage, allow you to show your employees their true total package. This can be a great support in both recruiting and retention, just as company-supported childcare can be.
by Joe Blattner | January 3, 2023
As organizations across different industries embrace remote and hybrid work schedules, many find it challenging to coordinate distributed teams. Workplace flexibility is often regarded as a competitive advantage in today’s labor market.
If you recently introduced flexible working in your company, you may have considered hiring a Head of Remote employees. This is what many organizations are currently doing, and there are many benefits to it. We have covered a few things you should know before hiring a Head of Remote.
The Shift to Remote: Benefits and Challenges
Whether operating in a hybrid or fully remote setting, there are many benefits that flexible working offers to both employees and employers. Employees save time and money on long commutes and can choose when, how, and where they want to work. Moreover, employers benefit from a diverse workforce capable of driving innovation, productivity, and business growth. And hiring remote workers opens up a a much larger, nearly unlimited, geographic recruiting area to draw from.
However, with remote working comes the risk of poor work-life balance, disengagement, and increased burnout. Similarly, some employees working remotely report having less spontaneous communication with colleagues, loneliness, and lack of learning and mentorship opportunities as critical concerns in the remote work world.
But despite these reports, several studies point to a maturing remote and hybrid work culture, with many employees threatening to quit if their employers require them to work full-time in the office. Some surveys found that 50% of employees would take a pay cut to have the option to continue working remotely. Also, check out our prior article about alternatives for paying remote workers.
Why Hire a Head of Remote
In light of the current developments, most organizations know that returning to the pre-pandemic work world isn’t an option. So, they are now finding ways to strengthen remote and hybrid work strategies to ensure the main challenges identified by employees are resolved or eliminated. One way of doing so is by hiring a Head of Remote who will have a seat at the table.
Ideally, a Head of Remote is responsible for designing and optimizing the company’s remote strategy. They are the ones to address workplace culture issues, burnout, poor collaboration, technology challenges, and employee disengagement. An ideal candidate for the job is someone good in project management, communication, strategy execution, and problem-solving.
The Head of Remote employees should also be the link between the management and hybrid workers, ensuring a smooth flow of information between fully remote and hybrid or in-office staff.
Make it Work for You
Offering remote and hybrid work schedules is one way of winning the talent war and ensuring you hold on to the best people for the long haul. Organizations looking to maximize the benefits of flexible work schedules while minimizing the disadvantages must invest in effective remote strategies. Hiring a Head of Remote is a great way to delegate remote functions to someone who can influence company decisions and has the capacity to allocate the necessary resources.
This article is brought to you by COMPackage, the leader in DIY total compensation reports. Help your recruiting and retention efforts by clearly showing your employees and recruits the total package you offer.
by Joe Blattner | September 13, 2022
Covid-19 caused a total shift in the corporate world and created trends bound to last into the future. Below are six effects of Covid-19 that you can expect to have a lingering impact on companies. As a business, understanding the implications of major events like the recent pandemic allows you to plan and adjust to the prevailing circumstance to ensure survival, growth, and relevance. Sticking to old ways may not work.
1. Hybrid Workplace
As part of the containment measures, most companies required employees to work from home to minimize the spread of the virus. The move made most companies (and employees) realize the benefits of remote work and acknowledge that employees can still be productive away from the office. It also came with cost savings for companies and flexibility in working hours and workplaces.
Since not all employees can work from home, companies created a hybrid workforce by adding flexibility to their working hours and allowing employees to work remotely in shifts. After implementing such measures during the pandemic, getting back to working entirely from the office will be a challenge.
2. Increased Digitization
With remote working, companies had to digitize their operations. They shifted from in-person to virtual meetings, which required companies to invest in digital conferencing tools like Microsoft Teams and Zoom. Also, the uptake of packages like Microsoft 365 increased as it comes with benefits like sync and the ability to access files remotely for home workers.
As more businesses move online the focus on cybersecurity also grows, with more companies investing in cloud services and tools like VPNs. Digital investment during the pandemic also means companies will continue adopting new digital solutions after realizing their effectiveness and security. This may also impact employment rates as companies can work effectively even with labor constraints.
3. Changing Consumer Behavior
Covid-19 caused changes in consumer behavior, resulting in a shift in demand for specific products and services. Consumers shopped more intentionally and consciously, with brand loyalty dropping. They also went online for goods and focused on buying locally.
Conscious shopping means less waste and choosing more sustainable options. With this in mind, brands that make sustainability a crucial offering are bound to enjoy the benefits in the future. Also, companies will have to invest in connecting with local consumers and tailor their offerings to meet local needs to stay relevant and prosper.
4. Increased E-Commerce
As people stayed home and social-distanced, consumers opted to shop online to avoid going to the store. E-commerce provided access to different products for consumers in the comfort of their homes. It has also ensured that companies continue operations despite Covid restrictions.
The convenience that e-commerce affords buyers means consumers will continue shopping online. Also, the sales incentives and lower business costs make it a possible alternative for brands seeking to benefit from an online presence. Companies that would otherwise shut down their physical stores in such a crisis can consider e-commerce to stay in operation in the future.
Given the threats the pandemic posed to businesses, companies that survived the tumultuous era are likely to become more resilient. After adapting and overcoming the crisis through measures like better products and services and improved processes, many companies can handle future disruptors without crumbling. Also, the pandemic forced most businesses to put their best foot forward and change how they conduct their operations through digitalization and automation, improving productivity and efficiency.
The advent of an increased workforce means that companies are no longer limited to the pool of employees living near their offices. This opens up staff sourcing opportunities really wide for employers. This includes specialized workers that might be hard to find in your city. It also opens up the possibility of paying less for workers who reside in cities where the cost of living is much lower than your city (e.g., someone from a remote town in North Dakota being hired for a job in Manhattan can probably be paid a lot less than those living in or around Manhattan.
The Covid-19 pandemic had significant implications on business operations, and the above effects are likely to be around for much longer.
This article is brought to you by COMPackage, the leader in DIY total compensation reports. Help your recruiting and retention efforts by clearly showing your employees and recruits the total package you offer.
by Joe Blattner | August 9, 2022
In November of 2021, the rate at which people quit their jobs reached a 20-year high in what’s being called The Great Resignation. What’s causing people to leave their jobs en masse all of a sudden? There are a number of reasons.
The Given Reasons
According to the Pew Research Center, the most popular reason given by workers leaving their jobs last year was that the pay was too low. This has been a major part of public discourse for a while now. Prices are going up. Rent is going up. Meanwhile, wages are stagnating. For many employees, their paychecks are no longer enough to live on.
The second most popular reason was that there was no opportunity at the job for advancement. A particular job may seem a dream to an employee when it’s first offered to them. However, it can lose its appeal after a few years of doing the same thing day after day. They’ve gained knowledge and experience at this job, and they want to put it to good use: be given more responsibility, a better job title, more pay, etc. But for whatever reason, the company won’t let them move forward.
Some bosses even take this a step further. When someone leaves the company, rather than hiring someone new, they’ll simply give that person’s responsibilities to another employee: more work and more responsibility, but without the corresponding promotion or salary increase.
This ties in directly with the third most popular reason for quitting a job: a lack of respect at work. Some employers abuse their authority. They try to force employees to work overtime or come in on their day off – and they threaten discipline, or even termination, if they don’t. They make impossible demands and act like it’s the employee’s duty to bow to their every whim. Job environments like this can become intolerable quickly, paving the way for resignation.
The Underlying Reasons
While low pay and poor working conditions are certainly valid reasons to leave a job, these problems have also been around for years. Why now, all of a sudden, have employees finally had enough? There are a number of possible reasons, but one of the biggest factors likely involves the pandemic.
For one thing, many older baby boomers with investment accounts that were at peak levels chose to retire. Moreover, nearly 1.8 million women left the labor force amid the pandemic. Presumably after having a taste of not working, they simply chose not to return.
These two classes of workers created vacancies for many millennials to move into – many with a significant pay increase as employers struggled to find replacements. Besides driving the Great Resignation, these circumstances may be high among the leading causes for inflation. When COVID hit the U.S., many companies switched to work-from-home models. People who had spent years coming into the office day after day were suddenly given the tools to do their jobs from anywhere.
Employees with children found themselves better equipped to balance work and family life. Employees with long commutes now didn’t have to waste all that time on the road anymore.
A plethora of benefits to the new work-from-home model became apparent. What’s more, productivity levels didn’t suffer as employers feared they would. In most cases, they remained the same or even improved!
Then, when COVID restrictions were relaxed, many of these companies started requiring their employees once again to come into the office every day. Having seen that things can be better than having to go back to the way things were before, has been eye-opening for many workers.
Smart companies are coming up with solutions, and future articles will cover some of these solutions. One tool than can help with retention is total compensation reports, like those from COMPackage.com. These help to educate workers as to the total value of their compensation when costly benefits are understood.
by Joe Blattner | May 24, 2022
Bringing new remote employees aboard should be a smooth and inviting endeavor. The way you welcome new members to your team plays a major role in whether the team will be cohesive or disjointed. Here are ideas for onboarding a remote workforce.
1. Offer extensive training to new members
Training new employees is crucial to maintaining a consistent staff, yet so many companies give this short shrift. For example, they’ll give people one or two weeks of training, when four to six would be much more grounding and effective. Often, the reason people quit after being hired is they don’t understand the work because it wasn’t presented to them clearly enough. Successful training includes instructors asking for feedback to make sure each individual understands their role and responsibilities. Moreover, this is a great excuse to have new hires meet various people in your company – the more the merrier. Because establishing enduring connections is often the number one reason employees tend to stay at a company.
2. Set up online meetings with small groups
Online video meetings are helpful to visually bringing a remote team together. Encourage some online meetings that are purely relationship-oriented. For example, pose questions that have people share their personal side (e.g., What’s something most people wouldn’t know about you? What’s the most interesting place you ever traveled to? What’s your worst traveling horror story? Etc.).
3. Encourage dinner/drink get-togethers
If you have multiple people who work remotely but live near each other (or live near to the company office), encourage them to get together outside of working ours for the pure purpose of socializing. For example, you might offer to cover dinner or drinks (to a reasonable maximum) whenever three or more people gather outside of work.
4. Create a visual, fun, online onboarding handbook
Most employee handbooks are so dry and boring, it’s a wonder anyone ever reads them. Why not turn this around by having a creative team (internal or external) find a way to make it graphical and entertaining. You can include fun videos of various team members introducing themselves and discussing the handbook items that are in their purview – but in short bursts. Include links for new hires to provide feedback or ask questions. And structure the whole thing to avoid information overload.
5. Engage new hires in an online games
Some employers use games such as scavenger hunts on their premises as a fun and refreshing onboarding technique. The same thing can be done virtually with the company’s website. Make a contest out of having new members search the site for answers to trivia questions about the company. Give prizes to those who can answer the most questions correctly. It will help accelerate the learning curve about the organization.
6. Offer Total Compensation Reports
Distributing total compensation reports allows employers to share what they are providing for employees beyond their base pay. Employers tend to take for granted that employees will understand the high value of their non-salary compensation, but many employees don’t realize the extent of it. This can help with retention – especially as many employees these days are turning to freelancing. But it’s not until they leave a job and are confronted by things like the high cost of health insurance, the extra cost of FICA, and the fact that they no longer are getting paid on holidays and during vacations, that some begin to appreciate just how good they had it working at your company.
by Joe Blattner | April 28, 2022
The last couple of years have seen a paradigm shift in most workplaces. As a result of the Coronavirus pandemic, most employees had to work remotely. Fortunately, the restrictions caused by COVID-19 have been gradually easing.
Now, employees are slowly coming back to the office. But, just how easy is it for your employees to transition from remote working to be in the office? More importantly, what can employers do to ensure a smooth transition? Read on to learn how to smoothly get your employees back to the office.
How easy is the transition from remote to office working?
Some employers and top managers do not see a problem with the transition from working from home to moving back to the office. However, if you look at it from the employee’s point of view, you’ll realize why you need a transition plan. Essentially, your staff has been working from the comfort of their homes for a while now.
Working from home presents a new experience, and it will take time before the staff can get used to working from the office. There’s no definitive timeline or guideline on how long it will take. Since every workplace is unique, it may take your staff anywhere from a few days to weeks or even months.
What can employers do to ensure a smooth transition?
Admittedly, employers have a key role to play in creating a conducive work environment. Here are a few practical tips on what you can do.
1. Get feedback from your staff
As an employer, you may feel the entire burden of creating a smooth transition falls on you. However, it is important to remember you are dealing with the lives of other people. Taking some time to engage with your employees will make the transition process easier.
Basically, you want to ask your staff what works best for them and how you can improve the working space to match the experience they had. Take up these ideas and work on implementing them. For example, most people got used to dressing down. You can, for example, come up with a more lenient and accommodating dress code.
2. Consider changing the working hours
One of the most significant changes when working remotely is the freedom of working hours. Some employees got used to working at different hours of the day. Now that the staff is transitioning back to the office, perhaps you should reconsider changing when the staff can work.
Since most economies operate throughout the day and night, implementing better working hours could also open up new opportunities for your services and products. In addition, changing the working hours could positively affect productivity. Since everyone works when they are most productive, you may experience increased output.
3. Rearrange the working environment
Traditionally, offices were built without significant consideration for the staff. However, since your employees have gotten used to working in a conducive environment, getting back to the generic office setting may increase the transition period.
You can get ideas from your staff on what they would like to see in the new workspace environment. Some of the options to consider include a practical and functional break room with some nice amenities.
4. Give your staff ample time to adjust
As mentioned above, there’s no one definite time limit that your employees need to officially get back to the comfort of the office. This applies to both general workplaces and individual employees. Employers and managers should be understanding and let employees take their time and transition at their speeds.
Ultimately, it is important to recognize that getting back to the office comes with its own set of challenges. Taking time to understand what your employees need and what you can do to help will go a long way in creating a smooth transition. These steps will help you get the best from your employees and a creative work environment.
Improving the office experience is one way to help workers be comfortable in the office. Those considering changing to become freelancers would be well served by understanding their current situation better with total compensation reports. They might be surprised to learn that if they go off on their own, they will be giving up a lot of money in benefits they’ll need to provide themselves.
by Joe Blattner | March 10, 2022
Gender bias and inequality in the workplace is something we’d like to think of as a thing of the past. In reality, that isn’t the case. This remains a significant issue today.
Every company should certainly make an effort to eliminate gender bias and inequality. Not only is this the right thing to do, but making a deliberate effort towards the same can help you attract and retain top talent.
Towards this end, there are several approaches a company can take. One such approach is by increasing female leadership in the following one or more of the ways.
1. Implementing a Gender-Neutral Recruitment Process
Review your entire recruitment process to eliminate any loopholes that would otherwise encourage gender bias. This starts with the language used in the job description when putting out job ads.
Indeed, some words commonly used in job descriptions have masculine connotations, which may put off women from applying for the advertised positions. “Competitive” is one such word; another is “rock-star” On the other hand, words such as “co-operation” and “collaboration” tend to attract women more.
The bottom line remains that you should be sure to inquisitively review your job postings and remove any gender-charged phrases, both masculine and feminine.
The next step is to ensure you standardize interviews and implement blind evaluation processes. Blind evaluation processes, such as neuroscientific tests, help to remove any bias from the recruitment process.
2. Support Women into Senior Roles
Big names across different industries have set gender targets. These companies break down targets by function and business lines. This means that the company sets out a certain number of seats on the senior management board for women and finds the most qualified women to fill these roles.
Of course, like men, all these women in senior positions should have clearly defined roles, and their performance gauged against set targets and required milestones. They should be held accountable for meeting these targets just like anyone else.
3. Actively Encourage Women to Progress
Ensure your female employees are applying for advertised promotions and asking for pay raises. Some companies have made a point of ensuring that line managers check if the high-potential women in their team have applied for these positions. If not, the line managers have a responsibility to find out why that is the case.
Actively encouraging it will get more women to apply for positions of progress. Line managers should make a point of doing follow-ups to ensure that more women apply, provided they are a good fit for the advertised positions.
4. Establishing Mentorship Programs
It isn’t enough to just encourage women at your workplace to apply for higher-paying and more senior roles. It’s best to provide the much-needed guidance and mentorship. And the higher up in the organization you are, the more widespread will be your effect.
Indeed, a solid mentorship program will help to diversify the work hierarchy. These programs give women in your organization the organizational knowledge, skills, and networks to be able to climb the corporate ladder.
Through these programs, you will be pairing the women in your organization with other women, or even men, who can impart to them the knowledge required to get to that promotion or power the transition to the next step.
As highlighted, you can bridge gender inequality at the workplace by encouraging and increasing female leadership. In addition to encouraging more women to fill senior positions or positions of leadership in the organization, you will do well to review salaries and standardize pay. This will help bridge any gender pay gaps. With total compensation reports, you can show potential employees and recruits the total package you offer, which will, in turn, help your talent recruiting and retention offers.
by Joe Blattner | February 2, 2022
Although 2022 has just begun, the employment scene in NYC is already hot. In December 2021, the city council passed a law requiring employers to indicate a minimum and maximum salary on job postings and advertisements. Employers in NYC should develop a plan for both internal and external job postings ahead of the May 15, 2022, effective date.
Employers will need to indicate the salary ranges on new jobs, transfer opportunities, and internal promotions. Similar laws are already in place in a handful of jurisdictions.
The NYC legislation is among similar wage transparency bills enacted across the US. For instance, Colorado recently passed a law requiring employers to include total compensation reports (salary, bonuses, and benefits) in job postings.
What Are the Requirements of the Wage Transparency Law?
Beginning April 2022, NYC employers will be required to include a salary range in all job vacancies. For those who aren’t sure of the exact maximum or minimum salary for a particular role, the legislation provides that the range can extend from the minimum to maximum salary an employer believes they would pay for the job, transfer, or promotion.
According to supporters of the NYC wage transparency bill, this law will address pay inequality issues. Often, job candidates don’t receive salary information or employee benefits reports until the hiring process ends.
Employers who’ll skirt the law risk getting slapped with fines or lawsuits. As per the existing provisions, the New York City Commission on Human Rights can impose a maximum penalty of $125,000 for discriminatory acts or practices.
If the mayor signs the bill into law, it will:
- Require all employers to provide salary ranges for job positions within New York City.
- Make it an illegal and discriminatory practice to not include salary ranges in job postings for positions within the city.
- Authorize the NYC Commission on Human Rights to implement it.
Once it gets passed, the law will apply to all companies with more than four employees, including contractors. However, it won’t apply to job postings by placement agencies for temporary positions.
Is Wage Transparency Good for Business?
Proponents of the legislation argue that it’s long overdue. It will eliminate the inequality that exists in the hiring process. The new law should help identify and hopefully reduce or eliminate the systemic pay inequalities that primarily affect women and racial minorities. Providing total benefits statements in job listings can also help employers retain their most talented staff amid the Great Resignation.
Generally, salary transparency is a sensitive topic; but, keeping employees informed can bring goodwill to an organization. On the flip side, skirting the salary transparency conversation brings more public scrutiny. A case in point is Google, which couldn’t keep hiding its gender pay gap. Publicizing employee benefits reports also protects companies by minimizing the risk of unequal treatment claims. Likewise, it boosts employees’ motivation, productivity, and collaboration.
COMPackage: The Go-To Benefit Statement Software
When the wage transparency bill becomes law, New York City-based companies will need employee benefits software to generate reports indicating what employees earn. COMPackage is one such tool, since it allows both small and large organizations to generate compensation statements conveniently, securely, and affordably.
Investing in the software enables employers to provide employees with detailed compensation statements. Similarly, employees can see their benefit statements and determine how much they’re valued at the workplace.
With more than 60 company-paid perks and benefits to include in a total compensation benefits report, COMPackage ensures transparency between businesses and employees. A small company can use the compensation software to create benefits reports for as little as $8 per employee. Likewise, unlimited reporting is provided to professional service agencies and larger companies for as little as $1,559 annually.
by Joe Blattner | January 11, 2022
Flexible work arrangements have become a competitive edge among modern companies. As the workforce gets younger, the popularity of remote work will only increase. In addition to attracting and retaining talent, a flexible working model opens your company to a more diverse workforce. Also, you can include remote working in your total compensation statements, thanks to benefits like those listed here.
1. Cost Savings
The costs of commuting to an office add up quickly and eat into any employee’s savings – from gas and car maintenance to professional clothes, laundry expenses, lunch, coffee, etc.
If the company is located in an expensive city, the daily travel and food costs can frustrate your employees. Employees save a lot of money by eating home-cooked meals and wearing casual attire when working from home.
2. Save Time
Employees spend a lot of time getting ready for work in the morning and maneuvering through traffic. Dealing with traffic jams also exhausts people and leaves them dreading the daily commute.
A flexible work model allows workers to get sufficient rest and wake up refreshed and ready for work. Also, they spend less time traveling and can put more energy into work
3. Better Work-Life Balance
Flexible working offers a better work-life balance for employees. The traditional nine-to-five work model is especially ineffective among parents with young children and people taking care of elderly relatives. By working from home, such employees can balance their home and work responsibilities.
Remote working also allows employees to enjoy their hobbies and enjoy more time with family, friends, and pets. If a worker needs a break amid tasks, they can walk around the neighborhood.
4. Comfortable Working Environment
Employees have little say in the setup of company offices. In comparison, a remote worker is free to customize their home office to be as comfy as possible. Employees can use ergonomic furniture, plants, scents, artwork, and lighting fixtures to their home office area and add a luxurious sofa to take breaks in.
5. Eliminate Office Distractions
Employees often struggle to focus amidst various workplace distractions. With chatty coworkers, office celebrations like birthdays, nearby group meetings, printers, and other equipment, the workplace can easily get chaotic. When employees work from home, they control their environment and can eliminate distractions more effectively.
6. Improved Health and Fitness
Working from home has lots of mental health benefits. When employees spend more time caring for family, they are happier and more satisfied. What’s more, remote workers eat more nutritious meals and even get into pursuits like baking bread. As workers accomplish more home and work responsibilities when working their home, they are less anxious.
Since remote employees spend less time commuting, they can dedicate more time to working out and improving their wellness. Also, it is easier to squeeze in walks and daily runs when working from home.
7. Improved Productivity
Lengthy in-person meetings at the office and daily commutes reduce employee productivity. In contrast, working from home means fewer disruptions from colleagues and less traveling. Remote workers have more flexibility to set up their day and define schedules that best work for them. For instance, some people work the best in the morning while others thrive during the night. Also, regular breaks when working from home refreshes employees to tackle their workload.
8. Increased Freedom and Happiness
Remote employees appreciate the freedom to plan their daily life to meet both home and work responsibilities. There is also less stress in remote working, as employees work in a comfortable environment. As a result, workers are happier and more satisfied with their jobs.
Flexible work arrangements have many benefits for employees, including improved mental health, cost savings, and increased job satisfaction. Document these benefits in Total Compensation Reports, like those provided by COMPackage.com, to attract and retain top talent.
Consider rethinking compensation. For example, rather than compensate people primarily for sitting in their office for 40 hours each week, consider tying their compensation to results produced, assuming their position has measurable tasks and/or objectives. See our prior blog on this topic.
by Joe Blattner | November 5, 2021
You may be sitting on valuable retention information for your employees, and not even realize it.
It’s your Benefits Package. And maybe your employees don’t even know what value it provides, because you haven’t simply communicated it.
Or maybe it’s time to rethink your benefits programming.
Times have changed. How much one makes, and what hoops one must jump through to be at work, have come to a point of decision and change for currently 8 percent of all employees in the marketplace. So, now is a great time to rethink your benefits programming, and/or communicate what you already offer.
Issues to rethink include the following.
- Time off
- Personal time
- Family time
- Medical time off
- Holiday Time off
- Work from home
- Home business equipment allowances
- Smart phone allowances
- Short-term parking allowances to drop off or pick up work
- Minimum wage/bottom-rung wage increases
- Quality-of-life perks
- In-office social spaces
- Food at work
- Incentives that accomplish critical success factors
- Operational improvements/savings
- Increased management/staff engagement
- Other ideas
- Quarterly performance reviews
- Exit interviews
- HR hire
- Tighter manager performance reviews
If you are paying for it instead of your employees having to pay for it – tell them what you are spending on them.
If you are providing a service, even such as free parking in your parking lot, that they would have to pay money for at another job, quantify and communicate it.
Even if you don’t provide a lot of paid holiday or vacation time, anything you do provide is more than a current employee or prospective employee would get if he/she/they went freelance. Let them know.
The entire motivation for COMPackage – the world’s first self-serve total compensation reporting solution, is to show your employees all of the value that you provide above and beyond their compensation.
Given the low cost of COMPackage, why miss out on this motivational (recruiting- and retention-related) opportunity?
Are you already doing some sort of homemade solution (e.g., Excel and Word) to communicate total compensation reports to your employees? Our customers who used to do it that way have told us time and again that, given the level of effort to use and maintain such a homemade system, it’s easier to use COMPackage.
Check out COMPackage today. With our 30-day risk-free money-back guarantee, you have nothing to lose.