As the year charges through Q2, business objectives and strategic initiatives are part of the conversation inside the executive suite. But it’s in HR where these high-level goals translate into day-to-day results, and effective total compensation marketing can be the driving force.
“Employer-provided education and communication is imperative for employees to better understand and make use of their rewards. Additionally, employers are educating beyond benefits literacy to include topics such as personal finance, health and wellness.” — Michael Wilson, CEO, IFEBP and ISCEBS
24/7 statement accessibility, real-time ROI delivery and lower employee turnover can be part of your case for a total rewards marketing solution. Read our whitepaper to find out how to get started.
We’ve all seen the employment forecast – the winds of youth are coming. Despite the influx of the next generation of workers, senior employee retention could be the higher priority for employers. 25% of workers will be 55 or older by 2018. Failing to retain them could leave companies critically understaffed and forced to tax valuable hiring resources.
Older employees play a valuable role in your company.
Does this mean companies need to start reserving an exclusive employee retention budget for their older workers? Hardly. There are plenty of other steps employers can take to improve senior employee retention.
Transparency of progress toward retirement, health and wellness gains, as well as providing opportunities to be a mentor, will keep them engaged at the office.
Provide Flexible Schedules
Many workers desire greater flexibility as they edge toward retirement age. Offering seasonal hours and phased retirement schedules boosts older worker retention by allowing them to stay busy and productive while enjoying a lighter schedule.
Offer a Variety of Benefits
It’s life – employees shift their attention to different values as they age. A career advancement path might not be as valuable to a 60 year-old as it is to a 30 year-old. It’s important for employers to have a variety of monetary and non-monetary benefits to offer their older employees. What’s more, those benefits need to be presented in a clear, engaging fashion.
Reward Your Older Workers
As companies prepare for the generational shift at the workplace, keeping the wisdom of age amidst the confidence of youth might be the key to consistent, long-term success. Read more about the tools available for retaining and engaging talent in the current and next generations of the workforce.
Women make up nearly half of the workforce, and over 70% are dedicated to another full-time job: being a mother. As competitive and fast-paced as the modern work environment can be, working moms are facing a greater challenge than ever – trying to balance the demands of their personal and professional lives. Is your company taking steps to be a steadying influence?