Some companies cut benefits in 2020. This year should be different.
As workers strive to recover from the damaging impact of 2020, it’s important to recognize how deeply the past year has affected them.
By Cindy Dash|January 29, 2021 at 10:11 AM
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2020 was the year of “Benefit Reduction.” If you want 2021 to be the year of employee satisfaction and talent retention, you might want to re-think reducing benefits for your workers. Based on a recent national study conducted by Broadridge Financial Solutions, a whopping 72% of working Americans said that after salary, financial wellness benefits are the most important factor in deciding to accept a job. Further, two-thirds of working Americans would look for another job if their employer took away any of the financial wellness benefits that are important to them. This decision to look for other work is not a purely monetary decision, but one that is driven by perceived value by their respective companies.