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Attract and Retain Your Employees During the Great Resignation

March 23, 2022

**This is part of our new series Better Business, supporting business leaders and driving success.

How to Attract and Retain Your Best Employees During the Great Resignation

The experience of the past two years has clearly reshaped our priorities, identities, and viewpoints, drawing a line between what’s important—health, family, time, purpose—and what’s not. As a result, employees have developed a new “worth it” calculation—what people want from work and what they’re willing to give in return. The power dynamic is shifting, and perks like happy hours and a corner office are no longer what people value most.

In Microsoft’s latest study of work trends, 53% of workers—particularly parents (55%) and women (56%)—say they’re more likely to prioritize their health and wellbeing over work than before.

Affordable Health Plans and Strong Retirement Plans

Many of the employees who have recently quit their jobs had little to no access to meaningful employee benefits. As health becomes a top priority, providing a comprehensive health insurance plan at the most affordable rates becomes a critical benefit.

Retirement uncertainty remains a top concern for employees. Only 62% of workers feel secure about their ability to save enough to retire, according to the Employee Benefits Research Institute.

Providing employees with retirement plan options, such as a 401(k), can be an effective way to add value and financial security to a position. Some employers have chosen to go further with their offerings, increasing their retirement plan matching. Such efforts help prove an employer’s investment in employees and their futures, which, in turn, fosters greater workplace loyalty.

So, how does your company’s retirement plan and health benefits stack up compared to your competitors?

And what does this mean for you as a business owner? Choosing the right employee benefits can be a tricky decision. Employers must weigh employee desires against benefits budgets and operational objectives. We can help you make these determinations, come up with creative options that fit your needs and do so within your budget.