Employee Benefits – The Key to Employee Loyalty?

Employee Benefits - The Key To Employee Loyalty?

Many companies spend more than 25% of their compensation budget on benefits such as medical, dental, insurance and retirement plans, according to the U.S. Department of Labor. Yet they may be skipping the simple steps that ensure they get the full value from that investment. That’s because employers underestimate just how important benefits are to creating and maintaining employee loyalty. Only 25% of people who aren’t satisfied with their benefits have a strong sense of loyalty to their job, according to a recent MetLife study. However 70% of employees who like their benefits have a strong sense of loyalty. According to Prudential, 81% of workers rate a company’s benefits package as highly important to their decision to change employers or remain with their current company. It might be easy to dismiss these statistics – employees should be lucky to even have a job, right? That is the wrong attitude. In …