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Apr '22 The Best Benefits to Avoid the Great Resignation

Business Insurance

The Best Benefits to Avoid the Great Resignation

According to recent government statistics, employees are walking away from their jobs in record numbers. During this period of mass resignation (sometimes referred to as “the great resignation”), employers need to demonstrate their value to employees or risk losing them.

Here are some of the most attractive benefits employers are using to strengthen their attraction and retention efforts:

Affordable Benefits, Generally
After enduring the worst of the COVID-19 pandemic, many front-line, low-wage or low-level employees concluded that their labor wasn’t worth their compensation. Savvy employers have picked up on this and are beginning to offer more attractive benefits to employees. Even modest benefits can make a huge difference when courting employees.

Retirement Plans
Only 62% of workers feel secure about their ability to save enough to retire, according to the Employee Benefits Research Institute. Providing employees with retirement plan options, such as a 401(k), can be a great way to add value and financial security to a position.

Flexible Work
Surveys find that the majority of workers who worked from home at least some of the time during the pandemic want to retain that perk indefinitely. All evidence indicates that if employers want to stay competitive, they will need to allow for some flexibility.

Personalized Well-being Resources
Personal well-being has never been more important to employees than during the COVID-19 pandemic. That’s why some employers are tacking on benefits such as mental health counseling, financial planning assistance and student loan repayment plans.

Additional articles from the April 2022 edition of the Univest Employee Benefits Newsletter:
  1. EEOC Issues FAQs on COVID-19 and Caregiver Discrimination
  2. Court Partially Invalidates No Surprises Act Dispute Resolution Process
  3. How to Conduct a Job Interview

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