It’s True, Strong Wellness Benefits Attract Strong Talent
Who would have ever thought we would experience a labor market described as “the Great Resignation”? I sure didn’t. However, I also never thought we would live through a pandemic. Now we have lived through both of these interconnected experiences.
When the COVID 19 pandemic started to take root in the U.S. in early 2020, signs were clearly pointing to negative impacts on the labor market. There were no disputing economists predicting furloughs, layoffs, and force reductions. It did come as a surprise, however, when over a year later, during continued periods of high unemployment, employed workers began rethinking their careers, working conditions, and work-life balance. This led to workers resigning in mass – and the Great Resignation.
Fast forward to today, and employers are still experiencing challenges in attracting and retaining good talent. Fortunately, there are ways to overcome these challenges through a compelling wellness benefit.
As far back as 2018, Forbes touted the advantages of a strong wellness program. Entitled “Win With Wellness – – Attract And Retain Talent”, the article highlights some very compelling statistics including:
• 87% of employees consider health and wellness packages when choosing an employer
• Over 54% of Gen Zers and Millennials consider company wellness programs important or extremely important when making a job decision
Despite data pointing to the advantage of a strong wellness program, employers were still not implementing them:
• Only 40% of employers prioritize their wellness initiatives within their overall benefits strategy
• Only 25% of organizations leverage their benefits programs to recruit employees.
Fast forward to today, and the data is just as compelling. According to the IBM Institute of Business Value, compensation and benefits remain in the top 5 priorities for high performing employees:
Employers successfully navigating the Great Resignation, understand this. They understand the importance of investing in their employees is more than just a title and payday.
The sooner you invest in your employees’ growth through employee wellness programs, the easier it is for you to build an engaged and valued team—improving productivity and your bottom line.
WithHealth’s Precision Care program is an option that not only can improve the health and welfare of your work force but can boost your talent attraction and retention by providing accessible, affordable and preventative care.