As businesses use technology to compete for the limited talent pool, attracting and retaining top talents has continued to be a challenge. As such, businesses must uphold their pledge to provide the best experience during the recruiting process and deliver on the promise of competitive and amazing benefits after hiring.
Concerning employee benefits, here are some statistics you should know:
- 94% of Millennials, 92% of Gen X say modern benefits make employers more attractive.
- 75% of employees revealed they are almost certain to stay because of the benefits program.
- 92% of full-time workers believe that organizations that offer non-traditional benefits are more likely to hire top-tier talent.
- 79% of business owners believe offering benefits to workers is a vital component of attracting talent.
- 69% of workers are not content with the employee benefits they are currently offered.
- Lastly, workers who are very satisfied with their benefits are about 4 times more likely to be very content with their jobs
These statistics suggest that to compete in today’s employment market, you must offer benefits your employees are satisfied with. Otherwise, it will be challenging to keep them around.
That said, let’s look at ways to attract and retain top talent with a focus on how technology can help.
The Hidden Association Between Employee Retention and New Technology
Technology has a big impact on work culture success, happiness, productivity, and, importantly, on retention. Therefore, your ability to use it to engage your employees every day is critical to your retention strategy. Thankfully, there is a lot you can achieve using modern HR technologies.
Access to Key Information
Access to information regarding benefits, office perks, salaries, and educational resources means a lot to your employees and makes the difference between them staying longer and quitting.
Printing thick, exhaustive benefits guides for employees is not only tedious but also expensive in the long run. Fortunately, tech solutions like Benefits Zone make it easier to share more up-to-date information with employees regardless of where they are and in just a few steps.
HR teams have a lot to accomplish every day and may not have time to respond to all employees’ questions. That is likely to rub employees the wrong way. Consider when employees keep sending questions regarding their benefits, and no one is available to respond. Fortunately, modern HR technologies help by reducing question demand for your HR team.
Offer Continuous Learning
Learning should be continuous and shouldn’t stop with the onboarding process. To future-proof their jobs, workers must continuously hone their knowledge and skills. Offering continuous learning is one of the best ways to attract and retain top talent. This also allows workers to swiftly adapt to changes in their roles, progress in their careers, and remain motivated in their roles.
Embrace a Remote Workforce
COVID-19 has taught the world that working remotely is possible. Before the pandemic, most businesses hadn’t fully embraced remote working.
The beauty of telecommuting is making it possible to recruit from anywhere in the world. This gives you access to the top talent, as opposed to those limited to specific geographical locations. Besides, remote working also increases work-life balance, which helps attract and retain top talent.
A Better and Smarter Way to Engage Your Employees With Technology
The link between technology and employee retention is growing increasingly strong, and there is a need for HR teams to use the best technologies to continue to offer competitive employee benefits and new growth opportunities.
Benefits Zone integrates with existing systems to provide a better way to engage with your employees. It is designed to reduce demand on your HR teams and benefits administrators. Want to see how businesses are benefiting from using Benefits Zone? Schedule a demo to set up a one-on-one consultation.