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Which Benefits Have the Best Effect on Employee Retention and Recruiting?

Small business benefit options have never been more varied. Get the most mileage from your offerings with the benefits employees love best.

The U.S. job market continues to grow. According to a recent report from the Bureau of Labor Statistics, businesses in the country added 209,000 jobs in July, marking the 82nd straight month of job growth. At the same time, the unemployment rate shrunk, ticking down to 4.3 percent—its lowest mark since 2001.

These new metrics have led many economists to speculate that the economy is nearing “full employment,” meaning everyone who wants a job in the United States has one. This mark is a significant one, particularly for small businesses. With no spare workers, they need to boost their offerings to hire and keep their employees.

Benefits are one of the surest ways to improve employee satisfaction. Nearly 60 percent of employees say benefits are “very important” to how they feel about their job and their company, and employees who are satisfied with benefits are almost four times as likely to be satisfied with their jobs.

But with a proliferation of benefits now available, how do small businesses—with their typically limited budgets—make decisions that are most likely to help them with Employee Retention and recruiting?

In this post, we’ll go over six common forms of employee benefits and how well they answer a small businesses’ needs.



This post first appeared on Small Business Employee Benefits And HR, please read the originial post: here

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Which Benefits Have the Best Effect on Employee Retention and Recruiting?

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