Group Benefits

What is your value proposition?

I just read another great article from Benefits Canada on how the economy is creating a greater challenges when it comes to attracting and retaining good employees. Here are some quick highlights from the article:

  • Because we are in an environment of cost-cutting, 61% of Canadian companies reported problems attracting critical-skill employees.
  • 57% of Canadian companies, reported similar difficulty attracting top-performing, talented employees.
  • Only 12% of Canadian companies felt it was difficult retaining their employees.

It looks like employees are staying put. It was only a few years back when the economic boom allowed employees to jump from one position to another for signing bonuses and other financial incentives.

Your value proposition

“This study is a good reminder that employers need to look at their employee value proposition in order to focus on key factors such as work/life balance and career development that are attractive to both current and prospective employees,” says Maureen Neglia, a senior talent management consultant at Towers Watson in Toronto. “This is even more of a priority when trying to attract top talent for leadership roles.”

A good benefits program is one that is implemented from a core value proposition. Time and time again, I’ve seen and read about the success of great employers who create a culture and a positive work environment for their employees. The benefit plan is merely an extension of their corporate values.

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