In what’s been deemed as “The Great Resignation” millions of workers are quitting their jobs, with a staggering 4.3 million Americans leaving their jobs in August 2021. This has left HR teams everywhere in a predicament to wrangle an attrition problem and continue to attract the best and brightest talent everywhere, only in a way that has never been done before.
While COVID-19 presented challenges that left millions of people unemployed and/or seeking change, the business world is almost back to business as usual, hiring to either fill in gaps left in the wake of the pandemic, or to continue on their planned trajectories. As a result, talent teams are back to the drawing board figuring out how to keep employees happy, supported and motivated.
Ten years ago, the average worker dreamed of the perks that companies such as Google or Facebook offered. The endless raves on the free food, the pets in office, subsidized laundry and even the occasional in-house barber visits were somewhat of a golden goose and left other start-ups or “cooler” companies aspiring to one day offer to their employees.
In fact, in 2012, benefit strategies in general seemed to follow the very straightforward, highly-sought after formula - offer the best perks and employees will follow. For companies listed as one of the 100 best companies to work in 2012, some of those perks and benefit strategies, included:
Throw in the unusual said perks and overall, the Top 100 best companies to work for, was certainly aspirational. Over the last 10 years though, we’ve seen an evolution of employee benefits, but the real shift didn’t come until 2020.
In 2020, seemingly overnight, the world as it was, flipped upside down. Employers were forced to allow business to go remote, and many employees were thrust into the role of remote employee that must juggle personal and professional life all in one bubble. Other employees were required to work in-person, on the front lines, in extremely stressful scenarios. Suddenly, benefit strategies became more than free breakfast tacos or on-site yoga.
Benefit strategies needed to transform. How do employers demonstrate that they will help - not hinder - an employee’s current work and life environment? A forward-thinking employee benefit strategy will answer that question. Life is blending with work. With an understanding that the pandemic shifted everyone’s view on what’s truly important and what matters most in the workplace, HR teams are unveiling more innovative benefit strategies, trying to appeal to the masses in an effort to thwart attrition and shine a spotlight on attraction and retention. Some of these benefit offerings include:
Outside of the benefits that everyone is clamoring for, employers should place greater emphasis on the overall employee, like mental health and overall wellness. A strong focus on the holistically strong employee means empowering employees to help navigate challenging or unexpected times, to withstand unchartered waters - thus enabling a resilient workforce. Without a holistically healthy employee, companies are left scrambling for help and substitutes, and it can impact their bottom line, yet there’s a stigma around these two issues in particular.
By opening up the conversation around these two topics, offering support and resources that help elevate employees into the best versions of themselves, companies are well positioned to have a thorough and successful benefit strategy, but more importantly a healthy employee.
As the world of HR and talent acquisition and retention continues to grapple with the ongoing effects of an unprecedented pandemic, one thing is certain: creativity and innovation in the vein of benefit strategies has never been more important.
Are you curious about how you can support employees with addiction and mental health issues during these challenging times? Quit genius can help you develop a forward looking benefit strategy, get in touch with us.
Join our newsletter to receive updates on smarter health