Many employers – knowing the challenge of hiring and retaining good employees, but keeping their budget in mind – may have established a minimal employee benefits package with one or two offerings. Perhaps it’s some type of health insurance, which, according to a 2016 Paychex survey, was ranked as the top benefit for retaining employee talent. But if you are considering expanding or have recently added onto your current offerings, it’s important to evaluate each benefit’s effectiveness, including understanding employee feedback, costs, and usage.
What benefits are the right fit for your organization?
Before making any decisions about what to offer, look at your benefits considerations overall and account for factors such as initial employee interest, costs, and steps for implementation. Paychex HR consultant Heenle Turner suggests starting with employee surveys to determine if the current workforce would embrace and use the benefits you’re considering. Once the most desired benefits are identified, they can be evaluated on a relative cost basis.