Monthly Jigsaw
2023 Recruitment Trends:
The total cost to hire a new employee is estimated to be between?three and four times ?the position’s salary.?
Many organizations that do not have a talent acquisition team rely on managers to recruit new hires, leading to ineffective hiring and decreased productivity.
Leaders are busy! With an estimated?4 hours ?a week spent resolving conflict and?23 hours ?in meetings, they do not have the time to serve in additional roles as talent acquisition professionals. In 2016, the average time to fill jobs was?26 days , and climbing, time managers cannot waste. Assigning managers recruiting duties distracts from their usual role, causing a decline in productivity.
From interview standards to resume screening, effective recruiting requires training that your leaders likely have not received. A shortage of knowledge and experience can lead to poor hiring decisions, increased turnover, and decreased productivity.
The Solution: Managed Talent Acquisition
? Avoid Recruiter Costs: Hiring a recruiter is often expensive, with ineffective results. Due to a lack of familiarity with your organization, they may not know what top talent looks like for you!
? Keep Up with TA Trends: From navigating the wealth of candidate data provided by the Internet to understanding the changing expectations of job seekers, talent acquisition teams keep up with changing trends in recruiting.
? Remote Work-Ready: Dedicated talent acquisition teams have the resources to adapt to the remote and hybrid landscape, ensuring remote interviews, screenings, and form submissions go smoothly.
? Improve Recruiting Experience: When managers are tasked with recruitment, hiring becomes less critical, leading to positions open longer, increased wait times on candidate feedback, or candidates losing interest in roles. A dedicated talent acquisition team ensures that candidates are the top priority.
? Top Talent Pool: A dedicated talent acquisition department has more resources to find top talent. They can leverage social media, job boards, and other tools to reach a larger pool of candidates, attracting top talent to drive results.
2023 Benefits Trends
SHRM recently published its?2023 Employee Benefits Survey results , identifying trends in employee benefit offerings.?
? Health benefits were identified as essential, with 89% of employees considering them “very or extremely important” and 98% of employers offering health care coverage.
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? 81% of employees consider retirement savings and leave benefits “very or extremely important.”
? Significant increases were noted in organizations offering paid parental and adoption leave.
? Organizations continue to recognize the importance of mental health, with 89% offering mental health benefits and nearly 20% offering paid mental health days.
? Remote work has become part of the norm, with 62% of companies offering hybrid work models.
? With 79% of employers providing upskilling, employers are investing in their employees’ futures.
The Solution: Finding the Right Benefit Provider
1.?????Enhance Employee Attraction: A robust benefits package demonstrates your organization’s commitment to employee health and well-being, making it a deciding factor in the job search for your potential employees.
2. Improve Employee Retention: Employees are more likely to stay with a company that provides a well-rounded benefits package, reducing the costs of turnover and hiring and training new employees.
3. Boost Employee Satisfaction: A comprehensive benefits package that addresses employees’ needs helps increase satisfaction, productivity, and engagement.
Choosing the right benefits provider can feel like a puzzle. Luckily, with our Managed Benefits Service, we can help put the pieces together!
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