As much of the U.S. gets back to a “new normal” with the COVID-19 pandemic waning, many businesses that require either low-wage, hourly, or exclusively in-person workforces are still finding themselves short-staffed. These sectors of the American workforce are critical to the healing of the economy and for getting individual businesses back to operating at pre-pandemic levels.
Employee benefits plans are often the number one expense for a company. For an investment that large, do you know if your employee benefits plan is working for you? Is it minimizing sick days and extended absences? Is it providing coverage for specific employee populations? Is it providing coverage for often stigmatized conditions?
Annual pay raises: something employees look forward to and sometimes count on. But has the annual pay raise gone the way of the anniversary lunch and the 10-year watch? In a post-recession economy, with a young workforce that is more focused on benefits and flexibility, organizations are taking a new approach to investing in their employees. Employees are looking for less money and more alternative compensation. Benefits now make up 31.6% of employees’ total compensation, which according to government data is a figure on the rise.
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