According to MetLife, these are employers\u2019 top benefits objectives:<\/p>\n\n\n\n
- \n
- Retaining employees<\/li>\n\n\n\n
- Increasing employee productivity<\/li>\n\n\n\n
- Increasing employee satisfaction<\/li>\n\n\n\n
- Controlling health and welfare benefits costs<\/li>\n\n\n\n
- Attracting employees<\/li>\n\n\n\n
- Helping employees make better financial decisions<\/li>\n<\/ol>\n\n\n\n
At Talogy, our I\/O Psychologists and consultants have years of expertise in these areas, helping business leaders and HR professionals recruit, engage, and retain employees. I\u2019ve compiled our best resources to help you stay on top of each of these top benefits objectives, creating positive outcomes for both your employees and your business – which, in turn, will help you retain employees. <\/p>\n\n\n\n
Below are the top benefits objectives that MetLife found employers are prioritising, along with our suggested HR solutions to help you reach these objectives:<\/em><\/p>\n\n\n\n
1. Retain Employees<\/h2>\n\n\n\n
- \n
- Recognise employees.<\/strong> Make recognition personal and specific to the accomplishment. Money is not always what causes employees to stay or go. Monetary bonuses are always nice, but simply recognising a job well done is meaningful and drives employee loyalty. To retain talent, you must make employees feel appreciated, respected and worthwhile and that their contributions are important.<\/li>\n\n\n\n
- Implement an effective recruitment process<\/strong> to build the foundation for other employee retention tactics, such as recognition and development. This will position you to choose candidates who are a good fit for both the job and the organisation by determining what competencies and skills are required for success. Then, use valid recruitment tools to identify individuals who have these characteristics.<\/li>\n\n\n\n
- Evaluate motivational fit using employee assessments.<\/strong> Get this right and you\u2019re more likely to hire employees who will stay and who will contribute to your organisation’s success.<\/li>\n<\/ul>\n\n\n\n
2. Increase employee productivity<\/h2>\n\n\n\n
- \n
- Empower your employees.<\/strong> When people feel empowered, they are more likely to work harder and pay attention to details. An empowered workforce is generally better for productivity and the overall workplace climate.<\/li>\n\n\n\n
- Be progressive, diverse, and inclusive.<\/strong> Gender-diverse companies are 15% more likely to outperform their peers and ethnically-diverse companies are 35% more likely to do the same, according to research by McKinsey.<\/li>\n\n\n\n
- Gamify.<\/strong> \u201cGamification\u201d is a driver of measurable productivity improvements and positive business outcomes. A recent case study we completed found that employees who achieved a greater number of medals and badges were twice as likely to be rated as \u201cTop Performers\u201d by their supervisors.<\/li>\n<\/ul>\n\n\n\n
3. Increase employee satisfaction<\/h2>\n\n\n\n
- \n
- Offer opportunities for development.<\/strong> This tells your employees that there is room for progression. Give challenging and stimulating work. Tap into their passion and allow them to focus their time and energy on projects they can enjoy. Communicate what career development plans you may have for them.<\/li>\n\n\n\n
- Make your employees feel they are an asset to your company.<\/strong> Allow them to feel secure in their job. Greet them by name, letting them know that you know who they are and what their contributions are to the company. Get their input. Encourage goal-setting and let them make their own choices as often as possible.<\/li>\n<\/ul>\n\n\n\n
4. Control health and welfare benefits costs<\/h2>\n\n\n\n
- \n
- Offer health and wellness programs.<\/strong> It pays for companies to demonstrate that they value employee efforts and well-being by offering wellness programs. Organisational support for these programs is critical. This shows that the company genuinely cares about their employees.<\/li>\n<\/ul>\n\n\n\n
5. Attract employees<\/h2>\n\n\n\n
- \n
- Be an Employer of Choice.<\/strong> To determine your \u201cEOC\u201d status, do a market analysis to consider what advantages the Employer(s) of Choice in your area are offering, compared to what you offer. What benefits do they offer? Are there opportunities for progression? What cultural benefits do other organisations offer that your company doesn\u2019t?<\/li>\n\n\n\n
- Analyse your recruitment process and selection system.<\/strong> Target your recruitment efforts and understand how to highlight the most attractive and competitive features of the job.<\/li>\n\n\n\n
- Do a company culture gut-check<\/strong> with The Culture Checklist: Do You Work in a Good Organisational Culture?<\/li>\n<\/ul>\n\n\n\n
6. Help employees make better financial decisions.<\/h2>\n\n\n\n
MetLife found that employees are concerned about their financial well-being, and 82% of employers believe that maintaining employee health and well-being is a responsibility of employers. It would be great if we could offer raises to all employees \u2013 but obviously, this isn\u2019t a realistic solution. When you can\u2019t adjust pay, implementing a good mix of benefits solutions can help improve employees\u2019 financial situation and well-being. <\/p>\n\n\n\n
A few examples include: <\/p>\n\n\n\n
- \n
- Tuition fee reimbursement<\/strong> for continuing education classes.<\/li>\n\n\n\n
- Incentives for healthy living.<\/strong> (Think: employee step challenge or partial gym reimbursement.)<\/li>\n\n\n\n
- Pension contribution matching<\/strong> and quarterly Q&A sessions.<\/li>\n<\/ul>\n\n\n\n
\nAccording to MetLife, 51% of employees agree that achieving financial well-being through benefits impacts their productivity at work. What better reason to revamp your benefits package?<\/p>\n\n\n\n
![\"\"](\"http:\/\/talogy.com\/wp-content\/uploads\/2022\/01\/cta-research-report-cover-leading-in-the-future-world-of-work.jpg\")
<\/figure>\nLeading in the future world of work<\/h2>\n\n\n\n
As the world of work continues to change, the role and attributes of leaders continues to be debated and reviewed.<\/h3>\n\n\n\n
What are the most important changes and opportunities brought on by Covid-19, resulting in the biggest global leadership challenge in decades? <\/p>\n\n\n\n
Download our research report now and explore our insights into four critical leadership themes: \u00a0 <\/p>\n\n\n\n
- \n
- The impact of leadership on organisational performance<\/li>\n\n\n\n
- The impact of leadership on the employee experience<\/li>\n\n\n\n
- Lessons learned from leadership in the pandemic<\/li>\n\n\n\n
- Future of leadership – critical challenges and responses<\/li>\n<\/ul>\n\n\n\n
- Incentives for healthy living.<\/strong> (Think: employee step challenge or partial gym reimbursement.)<\/li>\n\n\n\n
- Analyse your recruitment process and selection system.<\/strong> Target your recruitment efforts and understand how to highlight the most attractive and competitive features of the job.<\/li>\n\n\n\n
- Be an Employer of Choice.<\/strong> To determine your \u201cEOC\u201d status, do a market analysis to consider what advantages the Employer(s) of Choice in your area are offering, compared to what you offer. What benefits do they offer? Are there opportunities for progression? What cultural benefits do other organisations offer that your company doesn\u2019t?<\/li>\n\n\n\n
- Make your employees feel they are an asset to your company.<\/strong> Allow them to feel secure in their job. Greet them by name, letting them know that you know who they are and what their contributions are to the company. Get their input. Encourage goal-setting and let them make their own choices as often as possible.<\/li>\n<\/ul>\n\n\n\n
- Be progressive, diverse, and inclusive.<\/strong> Gender-diverse companies are 15% more likely to outperform their peers and ethnically-diverse companies are 35% more likely to do the same, according to research by McKinsey.<\/li>\n\n\n\n
- Implement an effective recruitment process<\/strong> to build the foundation for other employee retention tactics, such as recognition and development. This will position you to choose candidates who are a good fit for both the job and the organisation by determining what competencies and skills are required for success. Then, use valid recruitment tools to identify individuals who have these characteristics.<\/li>\n\n\n\n
- Recognise employees.<\/strong> Make recognition personal and specific to the accomplishment. Money is not always what causes employees to stay or go. Monetary bonuses are always nice, but simply recognising a job well done is meaningful and drives employee loyalty. To retain talent, you must make employees feel appreciated, respected and worthwhile and that their contributions are important.<\/li>\n\n\n\n