Every year for the past five years, about one-third of organizations have increased their benefits offerings. As a result, the average organization now offers more than 20 distinct benefits. Unfortunately, 67% of employees don’t believe their organizations understand which rewards are relevant to their needs.
Among employees who believe that understanding exists, intent to stay with their employer is 4% greater and employee performance is 12% higher — an increase associated with a 3.2% profit improvement.
So, better performance, higher retention and higher profits. How can HR leaders increase the relevance of benefits to capture those gains?
To answer that