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Compensation Matters More Than You Might Think!

Tailoring the right compensation to your employees is much easier than you thought.

You might expect choosing voluntary benefits to be a tough task. However, that is a mere myth. Tailoring the right compensation to your employees is much easier than you thought. In today’s busier-than-ever society, assembling a hardworking team can be next to impossible. After all, your business rivals are probably drawing from the same talent pool that you are. 

Make Your Next Benefits Package Better 

Is contract negotiation time coming up? If so, it’s a good signifier that something needs to change. Expanding your benefits package is a quick way to show that proper compensation matters to you. After all, you want your compensation strategy to keep your valuable employees from jumping ship. This notion is also a fabulous way to make your name in a crowded industry. In other words, let your reputation precede you! 

Pour Funding into Additional Education 

Continuing education is a huge difference-maker. Certifications and accreditations can help your employees advance their careers. Such credentials give them more opportunities to succeed and pick up some new skills along the way. Although you might be hard-pressed to help your employees pay down exorbitant student loans, professional development should be an HR mandate. Tuition reimbursement is a step in the right direction, but don’t be afraid to take it even further. Stipends set aside for such aspirations lower another achievement barrier that could be causing your employees unnecessary anxiety about their career path or job stability. 

Awards, Bonuses, and Recognition Pay Off 

Hard work should never go unnoticed. That’s a simple recipe for disaster. Besides, in lean times, you don’t want your frustrated team members to seek employment elsewhere. Burnout is a very real problem, especially for rank-and-file workers feeling the additional pressure brought about by the pandemic. We’re trying to say that awards, bonuses, and recognition go a long way towards showing employee appreciation. Incentives for high productivity and excellent customer service shouldn’t be considered unattainable, though. That will more than likely defeat the purpose.  

Give Employees a Stake to Hold 

An employee-ownership initiative sounds like a strange suggestion. Even so, it does hold water. This form of unconventional compensation has manifested in wildly different ways – from a small pizzeria in Baltimore to a famous football franchise (the Green Bay Packers) where the fans are an influential force on the team’s operations. 

A Compelling Customer Testimonial

Now then, let’s turn our attention to another customer testimonial. The team here at MWE Partnership is well-known for its outstanding work ethic and spectacular outcomes. So, here is more of what Leo Rudegeair from ChristLife had to say: “We scheduled a presentation and were delighted to see that all staff who attended had questions and potential interest in at least one plan. From there, I appreciate the attention that Joel and Drew took to our organization and the individual needs of the employees. They did a great job working with each person to address their needs, concerns, and budgets.” Yet another job well done! 

Get Your Voluntary, Supplemental, and Health Insurance Policies with the MWE Partnership!

Are you a business looking to provide your employees with essential voluntary benefits? If so, look no further than The MWE Partnership. When you choose The MWE Partnership, you get experienced service and comprehensive voluntary benefit options that will meet all your employees’ needs. With over 17 years of experience, The MWE Partnership is your go-to provider for all your supplemental benefit needs. If you are interested in finding out how The MWE Partnership can help your business, contact us today! We encourage you to like our Facebook page and follow us on Twitter and LinkedIn for the latest voluntary benefit news!

 

This entry was posted on Wednesday, August 4th, 2021 at 10:19 am. Both comments and pings are currently closed.

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