Right now, there is a lot of buzz around “quiet quitting”—the idea that employees are doing the very least possible to keep a job, and not going above and beyond the bare minimum. Add to that today’s difficulties in finding new hires, signs of economic recession, and ongoing business ramifications related to Covid-19, and employers are facing a unique (and often frustrating!) recipe of staffing challenges. 

But it doesn’t have to stay that way for your company—especially if you adopt thoughtful, affordable ways to attract and retain talent. One of the most effective ways for companies of any size, even small ones, to successfully hire, keep and engage employees is through building a strong benefits packages. 

Since open enrollment is upon us at this time of year, now is an excellent time to get creative, shop around, and stretch the benefits you offer your staff. Here are some tips for doing that affordably and realistically, no matter your budget or company size.

The Right Benefits Package Helps Overcome Staffing Challenges

There are a number of factors that feed into why companies across the board are finding it hard to stay fully staffed. Some of them, like what happens on Wall Street, may be beyond your business’s control. But many other factors are controllable—and when you plan for them wisely, your company stands a better chance of attracting and retaining great people.

As a human resources company, our team at Who’s Your HR? is listening carefully to what workers are saying. And a few themes are clearly emerging these days that you can address through the right benefits. These tips will help you craft a package that works for your company:

Tip #1: Shop Around—and Let Us Help You Do That!

With the rise in inflation, added costs of doing business and other concerns, many companies are seeing price increases in their health insurance premiums and other benefits. For some, this results in sticker shock—and then panic. But don’t let that keep you from making key decisions.

To apply this to your company:

Now is actually a perfect time to shop around to consider all your options, especially if the premiums and other costs are double-digit percentage increases. Want to save time? Our team is savvy when it comes to doing the research needed to help you get deals that save you money—so contact us to have us help you.

Tip #2: Create Flexibility through PTO and Hybrid Work

Being asked to stay home during the early pandemic quickly became something that many people came to appreciate. Many of them enjoy working from home—it saves them on costs such as gas and food, and eliminates commuting time. They may also appreciate flex schedules because having better control over their work hours can make their life more manageable.

To apply this to your company:

• Think about ways to allow for flexible schedules for staff. While you’ll need to do this carefully so that the benefit is equitable, flex hours and alternative shifts can make it easier for staff to balance work and life.
  
• Consider ways to expand the benefit of PTO (personal time off). Maybe it’s worthwhile to allow PTO hours to accumulate more quickly throughout the year. 
  
• Why not offer flex holidays? Give staff a day or two of holiday time beyond the usual days off on your company calendar. This benefit gives staff of different backgrounds a sense of being seen and appreciated, and also allows them to celebrate days that are meaningful to them.

Tip #3: Supplement Your Benefits as Much as Possible

When people hear the word “benefits,” they usually think of two things—vacation time (or PTO), and health insurance. Remember, though, that employees often prefer a robust benefits package that offers more than these two big things. The more perks you can provide, the better you’ll do when competing for top talent.

To apply this to your company:

• Expand the insurance coverage you offer. Most supplemental policies—such as short-term and long-term disability, life insurance, critical and long-term care insurance, accident insurance and various other supplemental insurances—invite employees to opt in at a cost point they choose, making it more affordable to offer them.

• Ask your insurance provider about Employee Assistance Programs. These programs give short-term, free services to employees who need help with financial advice, mental health needs, and more.

Tip #4: Know that Benefits Can Get Creative—No Matter Your Company Size or Budget 

If you think your company might be too small to offer good benefits, think again! We’re excited to say we’ve seen a recent trend in our practice of small organizations—with as little as 3 employees!—adding benefits to their total rewards packages in order to be competitive. 

To apply this to your company:

• To make this approach cost-effective, we get quite creative! We connect these employers with vendors, obtain quotes to help them compare costs and features, and design benefits packages that meet the organization’s budgetary constraints while appealing to employees. 

• Plus, there is a lot of flexibility that small organizations (those with under 50 employees) have with the amount they can contribute to health insurance plans. We can help you navigate that area with expertise to find the right fit for your company.

Make Your Benefits More Competitive and Affordable with Guidance from Who’s Your HR?

To keep your company’s staffing fully engaged, leverage the pluses of a strong, practical benefits package. And remember—you don’t need to go it alone in this area. 

At Who’s Your HR?, our team has expertise in structuring appealing, cost-effective benefits packages for companies of all sizes. Even if your company has less than 50 employees, there are many options that allow you to help your staff enjoy benefits and perks that keep them energized to perform at their best at work.

Whether you have a few employees, a hundred, or a thousand, we can help you build a benefits package that fits your team, your goals, and your bottom-line budget. We’ll tap into our network of vendors and save you time by doing the legwork to find benefit options for your organization to consider.

Contact us at 539-215-8868 to schedule a consultation about restructuring your benefits package, help with open enrollment, or any other HR needs. We’re here to help!