What keeps business leaders awake at night? Talent. Costs. Productivity. Out of 4000+ organizational leaders surveyed this year (Gallagher's 2018 Benefits Strategy & Benchmarking Survey), the top organizational priorities in order are:
* Attracting & retaining talent,
* Managing costs; specifically, healthcare costs which climbed 10% or more at renewal,
* Promoting productivity by having engagement strategies in place.
With market changes and workforce demographic shifts, it is apparent these are the top priorities for any business striving to compete. This year, the unemployment rate hit a low of only 4.1%. While this is great news overall, it also immensely tightens the labor market. For example, Fortune predicts that by the end of 2020, there will be a shortage of 40 million skilled workers but a surplus of 95 million low-skilled workers. The competition to recruit qualified, experienced talent is going to intensify while, at the same time, methods of retaining your existing employees will have to adapt as well. Ultimately, there will be a shift in nature and evolving expectations at work.
Employers at the top of their HR game, will have to get better, and keep getting better. Your better is never finished. When working with employers, our approach is to build a strategy that attracts, retains and engages the right people to meet your goals. How do we do that?
Tailored solutions that align with your business objectives. Our first step is to work with your executive team to establish a shared understanding of your strategic priorities, because smart business decisions are aligned with your overall organizational vision. You can count on us to provide honest answers and solutions based on your specific goals. A customized risk management and HR program that supports your overall direction requires continuous management to balance sustainability and affordability. With five different demographics in the workplace, there is no longer a one-size fits all approach. A diverse workforce requires a diverse strategy.
An integrated framework that evaluates cost containment and program effectiveness. Companies that recognize environmental changes know that better performance results in better outcomes. It creates a culture where employees can thrive and perform at a high level; optimizing the annual talent investment and mitigating organizational risks to maximize profitability.
A holistic look at employee wellbeing, beginning with the end in mind...