Employee benefits are an integral part of the total compensation package offered to employees and are an important part of human resource management. Attracting top notch talent which will give you an edge over the competition requires innovation beyond the typical benefit suite offered in your industry. The increased cost of medical coverage and spiraling deductibles required to maintain affordable premiums in small group plans have been squeezing the pockets of employees for years, forcing some of the most talented to migrate to larger corporations or government work. While traditional employee benefits are an important part of a compensation package, there are other ways to increase job satisfaction and employee retention.
Empowering employees to interact in schedule setting or creating flextime when appropriate can greatly increase satisfaction and retention. Productivity increases when employees are satisfied with their jobs and are able to maintain a balance between home and the workplace. By compressing the workweek and making a minor change to employees’ schedules, you could allow an employee the ability to spend more time with family decompressing from the stresses of employment.
Another option to add flexibility and increase satisfaction within the workplace is job sharing. Job sharing enables multiple employees to share in the duties of one position or job function. Generally, the allotted compensation for the position is split between the employees based on the percentage of time worked. Job resources and employment related costs, such as workspace, computer and office supplies, are also shared. Through job sharing, employees enjoy the benefits of their present position such as, status, rate of pay and skills enhancement – while enjoying a reduced schedule.
Schedule setting and job sharing are two strategic ways to offer benefits to your employees and be effective with your human resource management. Axiom HRS can help you with these, and other, benefits for employees.