As of September 2019, there are 7 million open jobs in the U.S., and the average time to fill a position is 43 days. What’s more, about 42 million people left their jobs in 2018, leaving their employers to pay $1 trillion in voluntary turnover costs.
While there’s no secret formula for attracting and retaining employees, the writing’s on the wall: employers need to offer a modern benefits package that delivers on employees’ expectations. In-demand job candidates are often choosing between multiple offers — and they’re looking for more than a paycheck. They want benefits that impact their quality of life, making a modern approach to workforce wellbeing a clear competitive differentiator.
That’s why more employers are taking their wellness programs to the next level, offering easy-to-access, digital wellbeing resources that help employees manage the key lifestyle areas of physical fitness, nutrition, sleep, stress, mental health, and even financial wellbeing.
Let's take a closer look:
- 9% of employers offer resources to promote employee health or wellbeing — yet only 20% understand the need for a comprehensive whole-health and wellbeing strategy to attract and retain talent in a tight labor market. (WorkHuman)
- 61% of employees are more likely to accept a job with a new employer if health and wellbeing benefits are offered. (MetLife)
- 73% of professionals say a company's health and wellness offerings influence their decision to work there. (Robert Half)
- 59% of employees are likely to remain loyal to their current employer if health and wellbeing benefits are provided. (MetLife)
- Better workplace benefits is one of the 3 top reasons why millennials change jobs. (LaSalle Network)
- 55% of workers have left jobs in the past because they found better benefits or perks elsewhere. (Randstad US)
- 72% of companies offer wellness programs to stay competitive when attracting and retaining employees vs. 14% of those companies with no identified culture of health. (Optum)
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When employers help their employees feel their best, everybody wins. Discover the 10 Things Your Employees Want in Their Workforce Wellbeing Program.