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5 Scary Things Employers Face Today

People hiding

Celebrating the fright and delight of the beloved autumn holiday -- Halloween -- ranks high on the list for many people.                                     

According to the National Retail Federation, 7 in 10 people plan to celebrate this year, and they’ll spend an average of nearly $90 per costume. Celebrants plan to purchase everything from decorations to candy to costumes (even for beloved pets).
Halloween is not just for children. At the office, we see decorations and candy on our desks; wear decorative sweaters and jewelry; and even dress in costume on the big day.  As employers, there are some things scarier than some of the costumes. 
Let’s look at 5 Scary Things Employers Face Today:
1.    The healthcare system seems ready combust. 
Healthcare costs, ineffective care, unpredictability, legislative complexities and more are wreaking havoc on the system. A panel discussion at the recent Benefits Forum & Expo addressed this topic and recommended that employers take the reins on healthcare delivery.

2.    Salaries aren’t enough to retain top talent. 
In today’s tight labor market, it takes more than a good salary. Benefits are equally as important. According to a Ranstad USA study this year, 61% of job seekers are willing to accept a lower salary if a company had a great benefits package. 

3.    Performance reviews aren’t working.
They are stressful for employees and ineffective at motivating the workforce. Several companies are doing away with the traditional annual performance reviews and replacing them with continuous feedback. Employees feel supported through open communication, and performance issues can be addressed and corrected on the spot.

4.    Employees aren’t taking PTO.
The scary part of that is the average American worker, who gets 23.2 days of PTO per year, only uses about half of those days. Whatever the reasons, it means employees aren’t resting and recharging so they come back to work more focused, creative and productive.

5.    Every employee wants benefits “their” way.
Each generation and each segment within a generation have different wants and needs when it comes to benefits. A broad benefits portfolio that appeals to each generation positions a business as a company that listens, cares and is worth working for. Adding voluntary benefits is one method of providing a broader portfolio and employees don’t mind paying for the specialized benefits they want. 

Don’t let these 5 issues within the workplace scare you too badly. Make sure that you arm yourself with the knowledge and tools you need so that you aren’t caught off guard for a truly frightful 2019.  

Happy Halloween from our organization to yours!