04 Jun Employers Improve Bottom Line Through People Power
New white paper explores how employee communications and education save money through talent retention, better productivity and a healthier workforce.
For many employers, this scenario is all too familiar: A company starts a wellness program or purchases a stellar benefit in the hopes that they will boost morale, retain top talent and even shrink health insurance costs. Yet the company still ends up with an unhappy and unhealthy workforce that is unproductive and difficult to motivate.
A common reason: Regardless of what rich perk or plan an employer offers, it likely will fizzle if employees either don’t know about it or don’t care. That’s why employee engagement and communication is just as vital as the benefit itself, according to a number of Members of United Benefit Advisors, the nation’s leading alliance of independent employee benefits advisors.
In light of the wave of recent layoffs and benefit cuts, strong employee engagement can boost morale now and protect a company’s retention once the economy recovers, according to Bob Recchia, president of California Corporate Benefits in San Diego. “This is an opportunity for employers to begin repairing the relationships and loyalty of employees,” Recchia said. “The employer who recognizes the cost savings and improved productivity that results from higher retention of employees, especially key positions, can potentially avoid the wave of employee exits that are projected as soon as the job market improves.”