Get the Competitive Advantage

These days, many job seekers are looking at more than their base salary when evaluating
companies. Often, they want to know about work-life balance, corporate social responsibility
or job perks. As the workforce changes and organizations increase their hiring to replace
outgoing workers, they’ll need to take a hard look at their competitive advantages in the
marketplace.
Organizational goals often include improving employee retention, raising employee
engagement, increasing participation in benefits and wellness programs or finding better
recruits. More and more, businesses use employee benefits strategies to achieve these goals.
This creates a competitive advantage, as potential employees are more likely to work for
organizations that show they care about members of their workforce.
Employee benefits make up nearly 32 percent of an employee’s total compensation package,
according to Bureau of Labor Statistics data.1 In the private sector, legally required benefits
comprise only 7.7 percent of that total, giving organizations wide leeway on which optional
benefits to offer.
How do organizations create benefits strategies that help achieve their business goals?
The Human Capital Media Research and Advisory Group — the research arm of Workforce
magazine — developed the Using Benefits for Competitive Advantage survey in coordination
with Ameritas. We asked more than 400 employers how they use benefits to create a
competitive advantage.

Click here to read the whole white paper:

Get the Competitive Advantage – 4 Ways to Hire and Retain the Best Employees