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The value of HR technology is often overlooked, as many business leaders focus on driving their initiatives while trying to keep their employees engaged and locked in on creating great customer experiences. Yet, modern HR tech solutions are integral to an organization’s success.
Think about all the time spent on payroll, tax filings, PTO management, reviewing resumes, or setting up open benefit enrollment programs. Also, think about the time spent communicating information to your employees or providing organization and role clarity. Consider the accessibility and function of your current HR tools for employees and think about…
“Medical coverage is a valuable workplace benefit, with the average cost of an employer-sponsored family health insurance plan reaching $22,463 in 2022, according to the nonprofit Kaiser Family Foundation. Although many employers limit their coverage to full-time employees, some extend plans to part-time workers as well.”
Sudden shifts in employees’ benefits needs and preferences since the onset of the pandemic have pushed many employers to reconsider their offerings to ensure they are providing options that will appeal to all kinds of employees.
One big reason for the changing preferences? More employees are working remotely. Employers now have to accommodate onsite and offsite workers alike with various offerings.
Last year, a new workplace buzzword became all the rage: quiet quitting. In short, quiet quitting means doing the sheer minimum the job requires, usually with the goal of achieving true work-life balance. It’s sort of the reverse of hustle culture, and evidently Americans aren’t too fond of it.
“In a time when inflation is rising and candidate expectations are changing, a simple salary hike will not be sufficient to attract and retain talent. Organizations need creative solutions to differentiate themselves from competitors. Walter Sabrin, senior vice president of recruiting services, VensureHR, discusses five strategies to fight inflation and improve hiring and retention.”
There’s an obvious problem creating unrest with workers today, and it’s creating a new battle for talent: inflation is increasing at a yearly rate of around 8%, while wages are increasing by roughly 5%.
With their hearts in the right place, nearly two-thirds of U.S. employers are increasing compensation budgets due to inflation. Others are putting the money towards recruitment and retention efforts, or simply sending bonuses to top employees. These attempts have proven relatively ineffective.”
