Employment rates have dramatically shifted since the pandemic began, putting employers in a unique position to hire and retain employees. As we commence a new year, the job market is very favorable to job seekers. Retention is key and employers are asking themselves – how do I make my organization stand out amongst the rest? As we begin a new year, below are various benefits to consider including as part of your 2022 hiring and retention plan.
- Health Reimbursements
In the last several years, health reimbursement arrangements (HRA) have gained popularity. This health benefit has the same tax advantages of group health insurance plans and provides employers with control over health benefits cost. Employees can use a monthly allowance offered by employers toward eligible medical expenses.
- Remote Work
Remote work is a benefit that has increasingly gained popularity as we return to a sense of normalcy. Research has shown that employers are considering maintaining this as an option since it has proven to be effective. Additionally, employees are expecting remote work to be included as part of their job role.
- Education Benefits
In today’s job market, it is still imperative to pursue higher education in order to qualify for executive-level positions. Education benefits, such as paid job training and tuition reimbursement, are currently one of the most desired employee benefits.
- Retirement Benefits
Employers that do not offer a 401(k) match are less likely to have employees want to stay until retirement. Improving retirement benefits has proven to have a positive impact on employee satisfaction and retention.