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Many companies are investing in ongoing DEI education, such as unconscious bias training and cultural competency workshops. Employee benefits that resonate with the modern workforce Traditional employee benefits like health insurance and retirement plans are no longer sufficient to attract and retain top talent.
Instead, try hiring competent and dependable people as first and use their achievements as templated for future hires. “Not only are small businesses competing for early talent with other small to medium-size businesses (SMBs), they have established brands to compete with as well. Always choose quality over quantity.
In a study conducted by the Allianz Longevity Project , nearly 70% of millennials (69%) said they would prefer to “explore, experiment, and travel” prior to retirement, which is higher than other generations. Free lunches and gym memberships are great, but nothing can compete with time for personal growth or time spent with family.
Two of our favorites are TINYpulse and 15Five , software that makes it incredibly easy to survey your organization and gauge employee sentiment about anything under the sun. Balancing these competing imperatives can be tough. Does your work give you a feeling of personal accomplishment? 14 – Set Employees Up for Success.
As competition in the sector increases for scarce resources, companies offer more competitive salaries and benefits to compete, which prompts some employees to jump ship when they find better opportunities. When employees retire, for example, that’s not within the company’s control.
Despite that focus, progress for many organizations have been stymied by competing priorities and a lack of resources. Collaborative research from Owl Labs and TINYpulse found that supporting a remote work program can have a meaningful impact on employee retention.
Voluntary turnover can be due to relocation, retirement, family illness, a more enticing job offer, an interpersonal conflict, or a micromanager who's constantly blocking an employee's progress. TINYpulse , Officevibe , and CultureAmp are great examples of simple but powerful ways to better understand your team. Foster camaraderie.
Standout Features Personalized Retirement Planning Automatic Portfolio Rebalancing Employee Financial Education Socially Responsible Investment Options Seamless Payroll Integration Pros The implementation is easy and provides an intuitive dashboard. Recommended For: SMBs looking for an easy to use and continuous 360-degree feedback solution.
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