The chosen article for the presentation was “Execs Say Benefits More About Retention Than Attraction” by Tristan Lejeune. This article summarized that benefit plans that companies offer are more than just about attracting great talent. In fact, there are a higher cost saving in the long run by retaining great employees. This is significantly related to offering great benefits to people, much like an investment into them and their future. Having great employees who are happy and healthy tend to do better work and deliver greater customer satisfaction. The article gave examples of how companies that are offering competitive packages are making long term investments into employees.
This article is relevant to everyone’s future business success because choosing a company to work for will highly depend on the benefits that are offered, including diverse healthcare options. Typically, companies that offer better benefits to their employees are more likely to value their presence and will work hard to retain their loyalty. HR administrators should work hard to set up packages and plans that will foster this kind of commitment towards retaining good employees. When companies are considering cutting things out of their budget, it is important to remember that keeping employees happy is a big part of running the company smoothly.
This is related to the class material that we are studying because of the nature of benefits packages. Mainly, benefits are not just a small part of the compensation of an employee. Benefits play an important role in helping foster the company’s long term vision and commitment to growth. HR has a critical role in determining which benefits are going to meet which goal (i.e. retaining employees or merely just attracting good ones). The theme of investing in employees comes back again to relate to how HR administrators should view the packages.
Lejeune, Tristan. "Execs say benefits more about retention than attraction - Articles - Employee Benefit News." Employee Benefit News - Helping benefit plan sponsors put information into action, 10 Oct. 2012, http://ebn.benefitnews.com/news/execs-say-benefits-more-retention-than-attraction-2728243-1.html.