Not Meeting Employee Expectations

One of the most prominent workforce trends over the last few years has been the shifting expectations of today’s employee. As the recruiting market has become more competitive, power has shifted to job seekers and employees. This means that both individuals seeking new jobs and those currently employed have higher expectations of employers—and failing to meet those expectations could have major consequences for businesses. Not only can an SMB risk losing out on top talent during the recruiting process, but they also risk having employees voluntarily leave for things like increased salaries, better benefits, improved workplace perks, and much more. Obviously, missing out on top candidates and losing high performers are a recipe for business disaster.
Partnering with a PEO can enable smaller employers to offer the benefits, perks, tools, and resources that today’s employees expect.

Some things employers can offer to meet employee expectations include:

Improving things to meet or exceed employee expectations increases retention while making a company more attractive to potential hires.
Improved healthcare and financial benefits
Employee assistance programs (EAPs)
Access to voluntary and complimentary benefits
Next generation
HR technology
Learning and development resources
Personalized HR services (more on that shortly)

One-Size-Fits-All HR

Large employers are able to tailor and customize their HR offerings to fit the needs, wants, and culture of their organization. Meanwhile, many smaller employers are
stuck with a one-size-fits-all approach to HR due to constraints and costs.
But in a world that has grown accustomed to a personalized experience in just about every aspect of life, a generic HR experience doesn’t work anymore.
Small and medium-sized businesses need to have and offer a personalized HR solution, and business owners know this.

Our Customer Value Survey found that:

PEOs open clients to a wide-range of HR services that are personalized based on a company’s industry, market, and employees.
When benefits, learning and development, technology, and more are personalized, it makes employees happier and more engaged, which leads to increased productivity and eventual business growth!
80% of small businesses today want personalized HR, and working with a PEO is an easy way to offer this.

Poor Employee Engagement

These two areas of HR are important for building a strong workplace culture and
a happy, productive workforce. While larger companies often invest significant amounts of resources to improve these initiatives, smaller employers often aren’t as fortunate. Exploring PEO solutions can provide smaller employers with the tools that can help improve employee engagement.
Access to higher-quality benefits, formal learning and development resources, modern, easy-to-use HR technology, and access to HR experts all help smaller employers address engagement concerns and build a great company culture. Additionally, PEOs can provide additional resources (such as guides and best-practice materials) that can help their clients with workplace culture and engagement initiatives.
Another area of HR that is critical for all companies is:
1 Employee engagement
2 And the overall employee experience
These two areas of HR are important for building a strong workplace culture and a happy, productive workforce.

Increased Competition

This symptom goes beyond just HR, as it is also a major business concern. Whether it’s increased competition for the same products or services, or for talent, small employers today can struggle to compete with larger businesses (and even other SMBs!).
HR is a critically important business function, and it helps drive businesses forward. By having a modern, personalized HR solution, smaller employers set themselves up to better compete against other businesses in their market.
Also, offering competitive benefits and perks allows smaller employers to worry less about losing their workforce to direct competitors, and instead can try
to lure a competitor’s top employees to their company.

Cosmo Insurance Agency is an independent insurance agency serving surrounding communities in New Jersey. Cosmo keeps its promise to assure an efficient and creative approach to the services we offer. Each of our clients experience a personalized and long-term relationship with us. Our New Jersey based team of health brokers guides our clients in helping them choose the most cost-effective options. By incorporating the latest in technology-based tools and laws on healthcare, employee benefits, life insurance and finance, we keep our clients up-to-date with the plans that encompass all of their needs, whether it is individual or group insurance.

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Posted 7:00 AM

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