(Photo: loreanto/Adobe Stock)

Recruiting, engaging and retaining talent, especially since the pandemic and the “great resignation,” continues to be a top concern for business leaders. Mineral’s 2023 State of HR Report revealed that 87% of small and medium-sized business (SMB) leaders view retaining and engaging employees as the most critical HR initiative for company success, while 57% say attracting new talent is the most crucial. Hiring and retention issues have particularly been a reality for industries like hospitality, manufacturing, and retail that rely on part-time and variable-hour employees. Restaurants continue to operate with reduced hours and dining, and display signs asking for patience due to a shortage of workers. The recruiting shortfall creates a domino effect, hitting consumers with fewer options and saddling businesses with lost revenue, forming a vicious cycle.

One obvious solution to the talent shortage is higher wages, which is not an option for every business. What do current and potential employees want besides wages? Year-over-year benefits rank among the top five factors for job seekers. Could providing benefits to part-time employees reduce the talent gap, and how can SMBs do that?

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?


NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

BenefitsPRO Broker Expo 2024Event

The premier educational and networking event for employee benefits brokers and agents.

Get More Information
 

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.