Organizations are shifting their benefits priorities as a competitive marketplace and low unemployment make it more challenging to attract and retain top talent.
A new study by TransUnion, an American consumer credit reporting agency, found that the price of benefits is dropping in importance for employers. In the previous three years, price per employee was the top benefit consideration for employers, however this year it dropped by 22%, landing in third place.
Dennis Connor, Vice President of Voluntary Benefits at Tompkins Insurance Agencies, said that the findings are a wake-up call and "an indicator of the immense pressure employers feel to win talent through relevancy. Benefits are only compelling when they are compatible with an employee's personal goals."
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