The New York Times reports on two new studies that find employers are increasingly worried about how to hold on to their best people.
So what are employers doing to make sure that key employees don't head for the exits?
According to the article, one area that organizations are focusing on is culture - making sure that workers find meaning and value in their work. Another strategy employers are turning to is making sure that benefits - in particular healthcare and retirement benefits - are competitive.
But sometimes it's not what employers provide but rather how they communicate about what they already provide.
Employers need to recognize that great pay, benefits and other perks are necessary, but they're not always sufficient. The missing link is communications and education - making sure that employees know about and appreciate what the employer makes available.
While there are many ways to get the message out, total compensation statements are an important tool that employers can use to inform and educate employees about their total rewards.
The first quarter is an excellent time to distribute total compensation statements - and our firm would love to help your organization design, create and distribute these communications. Contact us for more information.