Employee Benefits Trends Impacting The Hiring Process Today
Employee benefit programs have evolved beyond healthcare options and 401(k) plans. There are emerging trends in modern benefits packages which point to a focus on retaining current employees.
Attracting top talent has always been important, but ensuring that the new generation of employees stays with their employers is becoming a pressing requirement.
From financial security concerns to concerns about their future well-being, today’s employees deal with a number of work-related issues.
There are several wide-ranging options companies can adopt to retain their talent and achieve their corporate goals.
Here are the latest employee benefits trends that have come to the forefront. These trends may have a significant impact on the hiring and retention process today.
Long-Term Financial Stability
There’s been a significant emphasis on employee benefits related to long-term financial planning. It’s no secret that the modern employee is seeking finance-centric benefits.
This trend is slowly gaining momentum, requiring employers to re-evaluate their employee benefits packages and programs. Unfortunately, not many employers currently offer programs like these.
Not only do today’s employees want work/life balance, they also seek jobs which allow them to address their family concerns on time. A large majority of employees are willing to miss a few days of work in case a family event arises.
Some even turn down job offers and opportunities if their family responsibilities are their first priority. With that said, employees have more than one priority. According to a Pew Research Poll, 72% of employees fear loss of pay and nearly 54% are concerned about getting fired.
The needs of the modern workforce are continuously changing. This means that employers are more aware of the importance of relying on ‘touchpoints.’
These are outside vendors and expert consultants who highlight the key features of the offered benefit mix.
So, it’s more important than ever for employers to invest resources in creating seamless integration among these external parties.
Data Safety Is Crucial
Though greater integration has its benefits, there are some drawbacks to it as well. With the increase in touchpoints, employers are challenged with protecting their employees’ private and confidential data.
They need to keep a hawk’s eye on all the external parties they work with. It’s recommended to put a limitation on the amount of time spent collaborating to manage this growing concern.
OPS Staffing is a reliable restoration acquisition company with a highly talented team of recruiters. We specialize in talent recruitment and assist our clients in finding the best candidates for insurance, fire, and disaster restoration jobs.