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ith the U.S. economy at full-employment, retention of talent is the new multiplier. Retaining and attracting top talent, while controlling health and wealth total costs are HR’s top two challenges. What is being done to meet these very real needs?
HOW INNOVATIVE API INTEGRATED BENEFIT DELIVERY PLATFORMS HELP
EMPLOYERS ATTRACT & RETAIN TOP TALENT By MIKE EHRLE – California Broker Regular Contributor According to Gallup, 51 percent of U.S. employees are looking to leave their current job. Why? Surprisingly there’s a correlation where 79 percent of employees who rate their benefit education experience as ‘fair’ or ‘poor’ also rate their employer as ‘fair’ or ‘poor’ (SHRM). Employees blame employers for their lack of benefit education, which is understandable since few 28 | CALIFORNIA BROKER
Americans can define the following: copay, coinsurance, deductibles and out-of-pocket costs. This is a grossly unacceptable statistic; the onus is on employers to improve. Most employers, even though they’ve had to make edits to their benefit plans, still offer great benefit programs. So, where’s the disconnect? Too many employers don’t - CalBrokerMag.com -
know how to educate or communicate their benefit programs to employees. These very same employers face major retention issues. Sending a summary description of benefits to your participants doesn’t cut it because people either don’t read these materials or they don’t understand them. Similarly, employers who only communicate the value of benefits to FEBRUARY 2018
February 2018 California Broker