The True Cost of Having a Poor Benefits Strategy 

Retention and turnover continue to be big pain points for HR and subsequently benefits leaders.

A recent survey showed that keeping talent is the most critical issue for over half of HR professionals.

With pandemic burnout, economic uncertainty, and mental health needs outpacing available services, employees have an appetite for respect, fair compensation, and benefits that go above and beyond.  

The corporate price of employee financial stress is on the rise.  

In dollar amounts, lower productivity and absenteeism related to financial stress cost an estimated $1,900 per employee and an estimated yearly loss of 1 million dollars for a mid-sized employer.

So, how can I curb costs and engage employees while the great resignation is continuing in full force?

A recent survey found that with inflation infiltrating many aspects of everyday life, 70% of employees want help to optimize benefit dollars.  

Helping workers make informed decisions with retirement savings, health care coverage, and additional benefits during fall open enrollment can empower workers to feel more in control of their finances during a potentially rough economic sea.  

Ready for more top strategies benefits leaders are using to improve healthcare access and retain their workforce all while cutting costs? Check out our latest eBook Five Ways to Reinvest in Your Workforce to Keep Costs Down and Turnover Under Control.

Want to see how your benefits data can help you curb costs and plan for the future? Contact us today to learn how Artemis can help.