Reports suggest that employees who put off job searches during the pandemic are likely to resume them in earnest this fall, leading to a “turnover tsunami.” Employers should recognize that they have a significant opportunity to retain employees if they begin open enrollment efforts early in 2021. Revamping benefits offerings can help demonstrate to employees they are valued and convince top performers seeking new jobs to remain.
However, benefits are only powerful retention tools if employees see value in the offerings. Many employees expect some perks and arrangements made necessary during the pandemic, such as telecommuting, to remain. Therefore, employers must tailor their offerings to include such benefits.
Employers will also need to spread the word about their open enrollment and available offerings. Countless surveys show that employees want more help understanding their options. These results mean an open enrollment communication plan needs to start early, provide ample educational resources and have multiple channels. Reach out today for help enhancing benefits offerings and getting the word out to employees.