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Benefits take center stage as recruiting, retention tool

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in Compensation and Benefits,Hiring,Human Resources

In today’s competitive war for talent, employers are turning to and bolstering their benefits packages to give them an edge over competitors, a new Society for Human Resource Management survey report found.

According to the report, 95% of HR professionals rated health care as one of the three most important benefits to employees.

Other top-rated employee benefits included retirement savings and planning (71%) and leave (50%).

Nearly one in five HR professionals (19%) said their organizations had altered their benefits program to aid in the retention of employees at all levels of the company over the past 12 months.  

HR professionals at high-tech companies were more likely to indicate their organizations altered their benefits program to aid in retention than those in other industries (25% vs. 17%).

About one-third (30%) indicated that controlling health care costs was their organization’s main strategic employee benefits focus.

Find SHRM’s complete 2016 Strategic Benefits Series of survey reports at tinyurl.com/SHRM-2016-benefits. The five-part series covers wellness initiatives, flexible work arrangements, health benefits, benefits as a recruiting and retention tool and benefit communications.

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