Judgment day may soon arrive for employers. There will be consequences,
or payoffs, stemming from company behavior and actions during the economic recession because many experts believe a sustained job recovery is imminent. The approach organizations employed during the downturn will decidedly come back to either hurt or help them as the health of the employment market continues to improve.
According to a recent study by the Society for Human Resource Management (SHRM)1, the majority of HR professionals and managers surveyed agreed that turnover will rise significantly once the job market improves. Further, they also feel that the job market will improve withinthe next year.
The aftershocks of the recession are just now beginning and will continue for quite a while. From navigating a historically slow recovery and rising health care costs to the reality of a large number of workers simply biding their time before jumping ship at the first signs of economic stability – it’s clear, business leaders need to be in prevention mode.
The 2012 Aflac WorkForces Report, conducted in partnership with national polling firm Research Now, finds that one of the most overlooked, and often underestimated, ways to help prevent or minimize these challenges is through a strategically designed, effectively implemented benefits program. This stopgap
measure alone can dramatically decrease worker attrition, lower health care costs, and create a healthier, more productive workforce. Yet, alarmingly, more companies this year are shedding, not bolstering, benefits options.
To help companies rethink their beliefs and approaches to benefits utilization and delivery, this year’s groundbreaking study uncovers quantifiable connections between a variety of benefits aspects and their bearing on business performance.
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