Organizations who don’t shift their benefits strategy to account for these new priorities will risk losing talent to companies that are more accommodating of the need for work-life balance, or failing to attract that talent in the first place, she says.
What works for you
“You really have to look at the unique needs of your workforce, and also at your brand. What do you really stand for, and what do you value? What do you want to reward? If you develop benefits packages that support that mission and culture and those values, that’s your baseline. Then, you can hire with that cultural fit in mind; the people you hire will share your values, and you won’t have as much of a worry about retention,” she says.
Whether that means helping employees start or grow their families, providing specialized health testing, offering extensive paid leave or care for aging parents is up to your individual organization and your workforce’s needs, Kerekes says, but that’s a good place to start.
“Anecdotally, I can say that taking this approach has really helped with our ability to recruit elite talent, and our retention rates have gone up, too. We also have a thriving referral program from our existing employees, because we have always broadcast that we have a great mission, offer meaningful work, and the opportunity to be part of a culture where people know they are cared about, and we back that up,” Minkin says.
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