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Offer Access to Buzz-worthy Benefits
Voluntary employee benefits are a wonderful thing. Most cost employers next to nothing, but offer real value to employees by leveraging the company’s buying power to give them access to services they want. Not surprisingly, since the pandemic, many employers have expanded their voluntary benefits portfolios.
Think beyond traditional benefits, like disability and long-term care insurance. Focus on less-conventional benefits that will get employees talking. Like pet insurance. Financial planning assistance. Identity theft protection. Even elder care.
These are benefits that show you care about your employees’ whole lives—not just their work lives—and will set you apart.
Give ‘em a Leg up
Employees are much more likely to stay with a company that offers upward mobility—and of course, employers benefit from that in-house expertise. For this reason, be generous in offering training and cross-training options, then give workers a chance to use those newly-acquired skills.
Make sure your managers regularly discuss career goals with their reports and help them chart a path forward. Enact a firm policy to always, always promote from within if at all possible.
Operate in multiple locations? Then offer your high-performers relocation opportunities and embrace new experiences. (We’ll smooth the relocation logistics—and that won’t cost much, either). By bringing a world of opportunities to your employees, they won’t need to look elsewhere to pursue their dreams
At the end of the day, a smart retention strategy doesn’t take a big budget—because leaving an employer is rarely just about money. It’s about appreciation. Opportunity. Job satisfaction. It’s about showing a little love.