There is a correlation between employee benefits and morale. Workers want to feel appreciated and prized. This is done by allowing autonomy, providing proper and constructive feedback, and recognizing their input. Employees also experience a sustained boost in morale when they know that their employers are looking out for their well-being with comprehensive employee benefits.
It’s important to be cognizant of the fact that there is no one size fits all employee benefit packages. For the most comprehensive and inclusive package, it’s important to use age and other factors as benchmarks. The modern employer needs to think about versatility and customization to leverage their workforce. When it comes to generational needs, there are unique determinants that you need to be aware of.
- Workers fresh out of college can be particularly aloof and eager to leave their positions for a better one.
- Workers between 30 and 45 years old tend to be the least satisfied when it comes to employee benefits. The eagerness to secure a job in their younger years may have allowed them to overlook the value of employee benefits. This group has the potential to be cynical and may feel less satisfied.
- Young Baby Boomers can be frustrated when it comes to retirement plans and benefits. Older generations can sometimes feel financially unprepared for retirement.
These are all important factors to consider when creating employee benefits for different groups in your workforce.
There’s A Cost To Low Morale
Gallup Organization noted that 18% of workers that are disengaged – actively contributing to a $550 billion cash-flow black hole that is made up of low productivity, absences, and issues stemming from low morale.
High morale has a direct connection to fecundity, as well as the mental health of workers. Contact us to learn about our HR solutions that will streamline paperwork, reduce complicated paper trails, and provide informational aids for new and current hires.