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19 Jul 2023 | |
Written by Marlon Richardson | |
Allied News |
A well-designed employee benefit strategy can help build a significant advantage for any company seeking to grow through the acquisition and retention of key talent. The inability to hire and retain a strong workforce will affect an organization's performance and inhibit its ability to achieve corporate goals and objectives. The ability to understand employee needs and craft a customized strategy is one of the more critical components of successful human resource management.
The following five steps will aid in the development of a successful benefit design strategy.
Once the strategy has been developed, plans chosen and employees enrolled, company leaders should analyze and review the program on a regular basis and be prepared to modify the strategy and its components as needed. Employee feedback can be a valuable resource for this process. A sound benefit strategy should not be carved in stone but should be fluid, adapting to evolving needs, company development and any changes to the business environment and socio-economic conditions.
AIA Philadelphia offers its members access to My Benefit Advisor as a solution for employee benefits, including voluntary offerings. For more information about My Benefit Advisor, visit our website at aiap.mybenefitadvisor.com or contact Marlon Richardson at (215) 790-3640.
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