Challenge … Adding expensive employer paid benefits or programs to retain employees and boost retention increases costs and complexity, and what happens when the market changes and a decision is made to take them away?
Solution … Every employer has the ability to boost retention with the benefits and programs they already provide. When employees understand what they have their appreciation for where they work increases and retention improves.
Example … Employees leave for many reasons. Sometimes they join a competitor after learning about a small hourly wage increase. Their income may appear to be lower, but their total compensation, hourly wage and benefits, is higher. As an HR Director stated, “The value of an employee’s benefits is referred to as their hidden paycheck because most employees have no idea what their employer paid benefits are worth on top of there hourly rate.”
Action … After each employee received a personal statement, the HR Director said, “It’s important that everyone understands that the value of their benefits increases their total paycheck.” She affirmed by saying, “With PCI we not only know that everyone sees and receives their own personal Total Compensation Statement they also view a customized multimedia explanation of their benefits that we helped craft with the PCI production team.”
This example of customized employee retention is a primary ingredient when offering a voluntary benefit. It will make a big difference and it’s completely cost-free. Let’s talk about the ease and proven value of meeting with over 500,000 employees.
Contact Personal Communications, Inc for more information by calling 770-379-0286