What are benefits policies that companies can consider to attract, retain and engage employees?
Firstly, and to reiterate, benefits can be used to attract, retain AND engage, and it can be very useful to look at these separately when looking at the entire plan design. Employers are now recognizing that by nature, there cannot be a one-size-fits-all benefits policy. Hence, over the last two years, companies have begun to be creative with the way they structure their benefits plans. The high tech and call center industries are the clear leaders in benefits innovation due to the demands of their working conditions. To illustrate, because employees in India’s many call centers have an increased risk of heart attack and other major illnesses due to the high stress environment faced at work, companies in those industries offer employee assistance programs, encompassing relaxation exercises like yoga and meditation, counseling and even stress management talks. Such measures not only work as retentive tools, they help manage healthcare costs and support the company’s healthcare strategy.
