The term “employee engagement” has been around in the business world for at least two decades. Employee engagement refers to the emotional commitment an employee has to their organization and its employees, vision, and goals. Engaged employees are the lifeblood of your business because they show up, work hard and ultimately drive your revenue.
Employee engagement has been a steady metric without sharp ups and downs since Gallup began tracking it in 2000 — except for 2020. In 2020, engagement levels fluctuated more than ever before. The Covid pandemic thrust employee engagement into the foreground as companies learned how to manage their employees remotely. Business owners worried, and continue to worry, about keeping their employees connected, productive and enthusiastic.
Benefits for Your Bottom Line
Engagement surveys show that 50% of employees would leave their job for better employer benefits. And we know that studies on employee retention find that the average cost of losing an employee is a staggering 33% of their annual salary.
Though unemployment rates are higher now than they have been in recent history, the market is expected to redound and become favorable to job seekers in 2021. In a job seeker’s market, retention is key. So how do you make your organization the place candidates and your employees want to be?
A Bounty of Benefits
Benefits have always been important, and now they are perhaps even more so during these times of change. In the past, the four major types of benefits included medical insurance, life insurance, retirement plans, and disability insurance. Now the list of benefits continues to grow with dozens of perks.
Today’s candidates and employees expect benefits at work, benefits for their health, financial security, and work-life balance. If you want to have a competitive edge, you need to make sure to choose the best employee benefits that fit your workforce. But with so many types of benefits now available, how do you know which ones to include? That’s why we’re here to help. We create customized benefits packages based on your budget, culture, and vision.
We All Need Some Help
At PT Business Solutions, we know most employers want to provide their employees with the best possible benefits; however, the selection, negotiation, and administration process are often overwhelming. That’s where we fit in. Our expertise in this area means you can trust us to handle your benefits needs, giving you time back to focus on your core business.