August 31, 2016
Soft Benefits: Another Reason to Offer Flex Schedules
by Mary Newgard
Check out CNN.com’s article on the health effects of long commutes: A Long Commute Could Hurt Your Health, Add To Your Waistline.I’ve fielded more questions about competitive benefits in the last eight months than over the past three years combined.
Insurance agencies understand that to compete in a tight labor market you must use investments, resources and employee development programs to stand out.
Traditionally, an agency’s definition of “investment” meant offering a salary to an unvalidated producer or training someone to transition into insurance from another industry.
What Are Soft Benefits?
Loosely speaking, soft benefits are the expectations employees have of their employer beyond the standard wage. They are opportunities for companies to set themselves apart in a distinctive way based on the values of the organization and the employees. Employers have the freedom to change soft benefits more often than traditional perks because change excites employees. Soft benefits can ebb and flow with trends. They can be viewed as a pilot program. Employees just want to feel the company is progressive and any changes still move an agenda forward.
Smart CEO has a great article and infographic on the topic: Not As Hard As You Think: Making Soft Benefits Work For Your Company (see below).
The old adage from Baby Boomers, “Change. Bad.” simply doesn’t apply in today’s workforce. With employees 34 years old or younger considered millennials, change is good and the more camaraderie and togetherness employers can provide to them the better. Soft benefits boost retention, morale, culture and, according to CNN, good health.