In an unstable economy, many employers need to identify the necessary elements for keeping business running smoothly and retaining top employees. What does it take to attract good employees? More importantly, how do you retain them while keeping your costs low?
What challenges do you face as a business owner?
In a recent survey done of over 500 small business owners, the top concern was the cost of providing healthcare to their employees. [source]As a business owner of a small to mid-sized company, you are most likely facing financial pressure on some level. The costs associated with employee benefits are typically the second highest behind payroll. How can you lower those costs while keeping employees happy?
The combination of premium costs and expensive healthcare claims may cost more than you can afford to pay. However, providing these benefits is essential in remaining competitive in today’s market. The overall happiness and wellness of your employees impacts your bottom line. Healthier employees are more productive and have reduced absenteeism.
As an executive, how can you increase productivity?
Company executives face their own set of challenges and problems. You are tasked with making sure that employees are productive and focused while they are at work. Absenteeism and presenteeism are problems no matter the department, whether issues happen for personal or professional reasons. Another hurdle is employee compensation. As the cost burden of benefits is shifted to employees, you have to counteract with higher salaries or other benefits to keep morale high. How can you create a productive and healthy workforce while still remaining conscious of your P&L responsibilities to your business owner?
As an HR professional, how can you do more with less?
Nationwide, Human Resource professionals are being forced to do more with less. Additional work and employee problems are being handled by fewer people as budgets shrink. Time is being spent on administrative work, handling health claims, and managing different healthcare providers. A human resource professional’s job should be focusing on enhancing the workplace. You should be creating a more productive environment by working with employee issues and requests. You should also be making yourself more productive through integrated HR technology systems for all aspects of administration. Do you find that you are spending time entering the same data in multiple systems or utilizing a very manual process? Our process allows for coordination between your providers and systems, helping you to spend more time on the areas of the company where you will have the largest impact.
If any of the issues above apply to you, or if you are simply looking for a way to provide better benefits to your employees, we urge you to complete the following information and submit. It will help us assess your individual company needs. We can provide recommendations and solutions to improve employee perception of benefits while lowering your costs.
