Introducing Bespoke Benefits to Recruit and Retain Top-Tier Talent
Quick look: In today’s highly curated world, one-size-fits-all benefits planning no longer works. There are simply too many available options to rely solely on the status quo when it comes to HR management solutions. Therefore, brokers are tasked to explore beyond the norm and provide clients with distinctive offerings to advance them ahead of the competition.
First, there was the Great Resignation, followed by the Great Reshuffle. Now, the trends of “quiet quitting” and “quick quitting” make it clear employees continue to drive the labor market. Quality job candidates are being choosier with employment options, and employees aren’t afraid to resign from their current positions in search of greener pastures. All of these constant shifts put additional pressure on small- and medium-sized business (SMB) leaders to recruit and retain talent.
Of course, not every business has the budget or the resources to keep up with the demand, which leaves plenty of opportunities to get creative. It starts with strengthening benefit basics, and then, implementing a custom solution like ExtensisHR’s PEO Premier® to make job offers extra alluring. Brokers can harness professional employer organization (PEO) resources to guide SMBs toward their growth goals. With HR management solutions in place to empower employers and inspire positive change, companies can advance ahead of the competition.
Start with strengthening benefit basics
Upgrading to premier offerings doesn’t mean discounting the value of competitive pay and healthcare benefits. Even as trends come and go, job candidates will always seek these “basics” and quickly skip past applying for open positions if they’re not available. Reevaluating on an annual basis will help to ensure compensation packages align with what employees expect in the current landscape.
Salary and benefits
Salary negotiations have come a long way in the past several years, with employees having more power over their decisions than ever before. 85% of professionals – ages 25 to 35 – who negotiated compensation and/or benefits received at least a part of what they asked for. Since candidates are less accepting of first offers, companies should be prepared for counters and be transparent with their terms of employment.
Training and educational programs
The opportunity for professional development and advancement is another key area employees want from a company. Options can vary from internal training, certifications, and tuition reimbursement, among others. Offering these types of programs and events demonstrates an investment in employees’ abilities and careers, often resulting in greater retention. 68% of workers say they would stay with their employer throughout their career if the employer made an effort to upskill them.
However, these benefits are only the starting point of what’s necessary to recruit the best. As insurance and healthcare costs continue to skyrocket, many employers are on the search for more cost-effective and robust alternatives. A PEO is a valuable way to benefit existing clients who struggle with HR management and technology challenges. Furthermore, adding in an exclusive benefit like PEO Premier® is a great alternative for those who’d like to outsource their entire HR workload while receiving concierge-level service.
Elevate the client experience through exclusive offerings
A comprehensive PEO portfolio includes HR administration and guidance, payroll and tax implementation, recruiting and talent management, employee benefits services, and risk and compliance expertise. Unlike ExtensisHR, many other PEOs employ DIY service models without the comfort of person-to-person attention.
The significance of PEO Premier® is companies receive a customized approach to HR with an exclusively dedicated PEO Premier® Account Manager, HR Manager, and Payroll Associate. This premium option removes the time- and resource-draining activities which often limit opportunities to focus on company growth. It’s ideal for organizations such as:
- Technology and financial firms
- Capitalized startups with a growth mindset
- Lean executive teams lacking in-house administrative services
With platinum-level HR services and experiences like healthcare advocacy, concierge medicine, a dedicated employee support line, and one-on-one benefits meetings for new hires, PEO Premier® can help SMBs meet the demands of the modern workforce.
Concierge medicine
People want fast, convenient, and affordable healthcare with diverse coverage and providers tailored to their specific needs. Concierge medicine delivers a membership-based, primary care practice with seamless access to comprehensive care at offices near where employees work and live. Meanwhile, it delivers on-demand virtual care 24/7 to better treat people where they are.
Healthcare advocacy
Through PEO Premier® brokers’ SMB clients also receive personal services addressing all areas of the healthcare landscape. This includes handling billing issues, doctor and facility searches, coordinating with providers, selecting health insurance plans, enabling consumerism and price transparency, virtual care, travel assistance, and more. With the health system in a constant state of flux, it’s valuable to have a dedicated, expert team who can provide insider knowledge and guide SMBs toward the most favorable decisions.
Premium recruiting
PEO resources through ExtensisHR already include full-cycle recruiting services at no additional cost. This service however, is elevated, through PEO Premier® with access to a high-performing talent pool. This enables SMBs to develop C-Level employees in areas which align with company competencies and values. Elevated recruiting services also include premium consulting to develop commission structures, bonus plans, and employment offer letters, all in compliance with federal and state laws.
Provide a concierge experience with PEO Premier®
Employees have been empowered to speak up for what they want, and when the desired benefits aren’t available, they’ve proven their willingness to walk away and find a better employment fit. Brokers with PEO resources can support their clients’ plans for expansion through plans which meet their workforce needs.
However, not all PEOs are the same. ExtensisHR differentiates itself by delivering a fully managed approach to HR and allowing brokers to diversify their portfolios by adding a white-glove service offering. PEO Premier® serves as another strategic advantage to expand, protect, and grow SMB client relationships and further demonstrate your value as a trusted advisor.
Navigating the world of benefits can be challenging, but finding the right HR management solutions is made simple through ExtensisHR. We help brokers and SMB leaders deftly adapt to an ever-evolving industry by offering guidance and a tailored approach with a personal touch. Contact our HR experts today.
