January 27, 2020

HRA Administration Company, Clarity Benefit Solutions, Explains Why Offering Good Benefits is the Best Way to Grow A Business

  • By TecHR News Desk
  • August 21, 2019
  • 1 Comment
HRA Administration Company, Clarity Benefit Solutions, Explains Why Offering Good Benefits is the Best Way to Grow A Business

HRA administration company, Clarity Benefit Solutions, explains why offering good benefits is the best way to grow a business.

The key to growing a business is attracting and retaining top talent. While small business owners may think that salary is the only consideration when potential candidates are weighing the pros and cons of a job offer, honing in on exceptional benefits plays a vital role in a potential employee’s decision whether to accept or decline a job offer.

Employers need to offer the proper mix of mandatory and voluntary benefits to present not only to potential employees, but also to keep current employees from looking for another job. Competitive health plans, flexible working hours, commuter benefits, remote working options, or unlimited PTO are just some of the options smaller businesses can add to their repertoire to attract and retain the best talent. These factors are especially important with millennials (anyone born between 1981 and 1996). Recent studies report that approximately half of millennials take benefits into serious consideration when deciding where they want to work.

HR Technology News: Alight Strengthens Product and Innovation Capabilities with Addition of Brannon Lacey

Once a smaller business has hired top talent, it is crucial to keep them. Companies that find it difficult to retain employees have to contend with extra costs of recruitment, training, loss of productivity while onboarding new employees, and more indirect expenses such as impact on current team morale. Loyal, satisfied employees will grow the business—and prevent these additional expenses.

HR Technology News: Nudge Rewards Raises $9.3 Million, Led by Chicago-based Jump Capital to Scale Growth and Drive Innovation in Employee Experience Management

It’s no secret that employees who are happy with their jobs are more productive. Keeping them healthy is a vital part of their happiness, thus another reason to offer good benefits. This rings especially true for small or start-up businesses. Employees who believe that management is not invested in their health and happiness will be less productive, take more time off, and will be less successful. Employers should show they care with additional perks such as paid gym memberships, financial counseling services, company team building events, charity causes, summer hours, or occasional massages during lunch.

HR Technology News: The Future of Automation in a Digitally Diverse Workplace

Previous «
Next »
TecHR News Desk

The TecHR News Desk represents a team of tech journalists who coordinate trending stories and breaking news on behalf of the TecHR Series newsroom.

1 Comment

  1. Pingback: Kronos Achieves Yet Another Best-ever Top Place to Work Global Ranking

Leave a Reply

Your email address will not be published. Required fields are marked *