The CFO Playbook: How to Improve Turnover with Employee Benefits
The CFO Playbook: How to Improve Turnover with Employee Benefits

The CFO Playbook: How to Improve Turnover with Employee Benefits

To increase employee retention, you need to consider more than universal healthcare benefits in your turnover calculation. Discover how investing in the right employee benefits can decrease turnover 138%.

We analyzed our proprietary data from more than 30,000 medium and small businesses nationwide and found that as organizations add benefits, there is a significant decrease in turnover. In our latest guide, we review cost-containment strategies, including low-or no-cost options, CFOs should consider when designing a benefits program.

Reduce employee turnover with benefits!

More to Discover

How to Craft Employee Benefits Plans for a Multi-Generational Workforce

How to Craft Employee Benefits Plans for a Multi-Generational Workforce

We all hear it time and time again: With four generations composing today’s workforce (and Gen Z fast nipping at their heels), companies have a lot to consider when it comes to hiring and retention. A major key to retention, as we all realize, is a solid employee benefits plan. So, it’s important that you provide a program that appeals to your entire employee base. But when you’ve got to manage the expectations of so many different generations with differing needs, a one-size-fits-all benefits program simply isn’t going to cut it. What is the multi-generational workforce? When we talk about the generations making up most employee bases, we’re referring to these date ranges. No source can precisely agree on birth years, but generally...

How To Drive Employee Engagement with Total Compensation Statements

How To Drive Employee Engagement with Total Compensation Statements

More than half of top-performing companies provide total compensation statements to employees (compared to 38% of typical companies). Why? Because, sharing information on the total compensation works! Communicating the value of the entirety of their compensation is a key to improving employee engagement and retention. Most employees take only salary into consideration when thinking about compensation, but there’s far more in the pot. A total compensation statement (TCS) is pretty self-explanatory: It’s a document that outlines in detail an employee’s direct and indirect compensation – including all cash income plus the value of all benefits received. The total compensation statement is often referred to as a hidden paycheck or a total...

Find Time to Lead: Partner with a Benefits Broker

Find Time to Lead: Partner with a Benefits Broker

You already know that salaries are your company’s biggest expense. Number two is benefits. That’s why you should consider partnering with a benefits broker. But not just any broker. So, what should you look for? What separates the wheat from the chaff when most folks are selling the same services? Are you a benefits expert? Probably not. First things first, you have to be honest and ask yourself a tough question: Think through the amount of time you spend trying to understand your company’s benefit plans. Comparing cost is just one aspect you should be considering. You need to know which plans are best for your employees. Generally, a one-size-fits-all option isn’t a great idea. You need to provide your employees with variety so they...

6 Tips for Selecting the Right Employee Benefits Broker

6 Tips for Selecting the Right Employee Benefits Broker

As we discussed in our previous article, Find Time to Lead: Partner with a Benefits Broker, benefits are one of your largest business expenses, second only to salary. So it makes sense to choose a broker who is as invested in your company as you are. Rather than just pulling a name out of a hat, it’s as important to vet and interview potential brokers as it is the employees you hire. We’ve gathered a list of questions to ask to help you ensure you get the best broker for your business. Here are the key questions to ask: What certifications and licenses do you have? You want to ensure that your broker is currently licensed to do business in the states where you have offices. A valid license indicates that your broker was trained,...