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Today's business world is fraught with all manner of legal challenges approaching from a variety of fronts and sources. It's invariably the HR department that deals with the bulk of employer-employee interactions and implements company policies that need to be in full compliance with existing legislation.
To successfully grow your business in both size and quality productivity, you have to win against your competition not only in drawing top talent but also in keeping it.
But what are the most important factors that affect whether your best employees stay or go? And what can you do in each area to maximally boost your employee retention rates?
There are many good reasons for small businesses to invest in timely, quality human resources consulting services, including attracting and retaining key talent that can make a business grow. But one that is sometimes overlooked is that of maintaining impeccable HR compliance so as to avoid costly lawsuits or other legal challenges.
"Doing payroll" doesn't have to be something you dread at the end of every 2 to 4 weeks, taking up far too much of your valuable time and loading your down with a lot of extra stress.
There are many aspects of running a business that can be handled more efficiently by outsourcing, such as employee benefits and HR admin, for example. And payroll administration is often best handled this way as well.
Ask almost any employee or anyone looking for a new job what their number-one most preferred employee benefit would be, and health insurance is easily going to be the top answer. And given the high costs of healthcare and the constant risk that going uncovered poses, it isn't hard to see why.
When considering what kinds of employee benefits to offer, you may not have immediately thought of financial wellness programs. Yet, these are among the most popular, high-engagement programs that employees benefit from in the business world.
A new year is an ideal time make new hires, implement new training programs, and make changes to your business' benefits package that will both attract and retain top talent for this year and for many years to come.
Constructing and effectively marketing (internally and externally) a great employee benefits package is key to success in today's business environment. Offering the right benefits can be as attractive a draw to top talent as can competitive salaries and a positive company culture. And great benefits are also a key way to retain the best talent after you've captured it.
In today's business world, employees are looking for more than just a salary and reasonable job security with full-time work hours. They are also keeping a keen eye on the benefits packages that are offered by employers.
Recent studies show that "financial wellness" programs are on the rise in the business world, with some 84% of companies offering such programs and most employees being very concerned about their financial well being.