Benefits And Benefits Of Employees

2796 Words Oct 12th, 2014 12 Pages
Employers, on a daily basis, are in a battle to recruit and retain a talented workforce. While initially, compensation is important in driving interest. It can be the benefits of a company that determines the loyalty, engagement or retention of an employee. In 1995, the ratio of people who quit their job each month increased to more than 13 percent compared to the prior average of 10 percent (Branham, 2001, p. 1). Based on this ratio, an “average public company [would lose] half its employees every four years” (Branham, 2001, p. 1). This number does not include the “fifty-five percent of U.S. employees” who think of “quitting or plan to quit within a year” of working (Branham, 2001, p. 1). Further impacting a company is the growing mix of a diverse workforce. The diversity lends to better pool of performers, a wider range of customers and the strong potential of a company becoming the “employer of choice” (Branham, 2001, p. 264). Traditionally there are nine dimensions of diversity that a company may pool from: gender, race, age, religion, ethnicity, hierarchy/class, sexual orientation, family situation and disability (Branham, 2001, p. 265). The dynamics and mixture of employees will affect the business strategy of a company. More than just compensation, employers understand they must arm themselves with good benefits. Part of this benefit strategy can be obtained through the use of work/life balance. As recruitment and retention become a huge part of the business…
Open Document