Work/Life and Benefit Programs Boost Recruitment and Retention
In contrast, other health-related programs were not as effective. Specifically, health screenings, smoking cessation assistance programs, and weight and stress management programs have had only a minor effect on attracting and recruiting talent for the survey respondents.
Furthermore, while 95 percent of organizations offer health care and dependent care flexible spending accounts, these programs are perceived to have very little impact on attraction and retention. Of the 62 percent of organizations that offer telecommuting, nearly half said the program has a high impact on employee retention. Ninety percent of respondents said that having a paid vacation plan had a moderate to high impact. Paid time off for the arrival of a new child is perceived as having a modest impact. About 30 percent of respondents reported that paid maternity leave had a high impact on attraction and retention. Paid paternity leave is believed to impact attraction and retention for just under 20 percent. Overall, WorldatWork found that employers recognize that 'total rewards programs beyond compensation are needed to attract, motivate, and retain today's workforce.' In addition, as the report reads, 'cutting-edge programs can be the differentiator that gives an organization the advantage in the war for talent.'
To learn more about WorldatWork and review the report, visit www.worldatwork.org.