The challenge of recruiting, retaining, managing and engaging a diverse workforce while remaining cost-effective has changed now that the era of one-size-fits-all benefits is over. Employers are now tasked with offering a wide range of benefits to appeal to employees at varying stages of their lives and who have different motivations at work.
Flexible benefits offer a solution to these challenges. A wide range of options can be presented, appealing to distinct age groups, whilst various payment models suit both employers seeking minimal financial contributions, and those able to invest a larger amount on their benefit offering.
Flexible benefits give employees more control – they are able to choose and modify the combination of benefits that they are receiving when their personal circumstances change. In turn, this leads to greater engagement at work, and increasing motivation and retention.
Employers can invest as little or as much as they want in flexible benefits, depending on their budget. Including bene ts in their employment offering can help raise their profile as an employer of choice to potential recruits. So it comes as little surprise that the popularity of flexible benefits is growing with both employers and employees.
What this white paper covers:
- The current make-up of the multigenerational workforce and their differing needs
- What challenges employers face when offering flexible benefits to recruit, retain, motivate and engage employees
- How reward professionals can use flexible benefits to meet these challenges and achieve strategic HR goals whilst remaining cost effective
- Practical suggestions for communication plans to ensure maximum take-up by employees
Click here to read the white paper: Addressing-the-Challenges-of-a-4G-Workforce