Employee benefits are key to attracting and keeping talent.
Why is having good benefits so important?
Today looking beyond the traditional benefits and providing whole-person support attracts top talent and enriches the lives of current talent. Understanding what they need to bring their best selves to their work is key to their and your success.
The benefits we provide to our teams have become one of the most important factors team members consider when thinking about leaving or joining an organization.
What are whole-person benefits?
When we talk about benefits, we aren’t just talking about the basics: health insurance, 401ks, and paid time off (PTO). In the last decade, team members sought benefit plans that address the whole person. The pandemic has further impacted individuals and work, and whole -person benefits are now must-haves in order to compete for and retain talent.
What does team member satisfaction in the U.S. look like?
Overall team member satisfaction with benefits in the U.S. is approximately 64% and has been at that level for over 20 years, according to MetLife’s “The rise of the whole team member: 20 years of change in employer-employee dynamics.” That is disturbing, as it means that 36% of team members—over one-third of the organization—who are offered benefits are not satisfied with them. The conclusion: organizations are spending money on benefits that team members don’t see as contributing to their overall wellness…
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