Success of Employee Benefit Programs [infographic]
In order to recruit and retain the best team, you need to offer a compensation package that's competitive in your area and industry, and that meets the needs of your employees.
When it comes to benefits packages, many small businesses struggle to figure out what their employees expect, and how they can remain competitive against larger firms.
Apparently, small businesses are not alone in this struggle. A recent What's Working survey by global consulting firm Mercer shows that across the board, employees are less satisfied with their benefits than they were 5 years ago. 43% of US employees don't consider their benefits competitive, and about the same amount say they don't meet their needs.
Given how important benefits packages are to overall employee satisfaction, the study shows that employers need to do more to keep their teams happy. How has your benefits offering changed in the past five years?
Check out this infographic for more survey results:
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