Staff retention and employee benefits are hot topics for employers at the moment as numerous recent studies1 show that to retain staff it is not enough to just pay them enough, they also need to stay engaged.
Happy, healthy and engaged employees are more productive and take less days off work due to illness2. Okay. So how do you achieve that? While it is important that your staff know that they are being paid the market rate for what they do, a good benefits package will often make the crucial difference between keeping your valued employees on board and losing talented individuals to competitors.
Frequently cited as the most popular employee benefits are company pension and healthcare plans3. While companies with large HR departments often have these valuable benefits woven into their employment packages, for smaller businesses, setting these up can seem daunting. This is something that Elect by Mercer Marsh Benefits recognised and therefore decided to introduce a brand new solution called Elect Engage to help small businesses look after their people.
Elect Engage is an online platform designed to eliminate the old method of sourcing employee benefits which used to mean spending hours on the phone or in meetings with insurance brokers. The platform provides a straightforward and easy-to-manage method of purchasing and managing benefits for employees, cutting out the time spent dealing with the middle man.
Elect by Mercer Marsh Benefits provides an easy way to allow employers to tailor cost-effective staff benefit programmes, specifically aimed at meeting their employees’ needs. In addition, Elect by MMB will offer the ability to quickly and easily manage their employee benefits online, simplify the whole process and cut down time spent on routine HR activities. This way, time, a valuable asset for owners of small to medium-sized businesses, can be saved.
Employers can manage all employee data in one place and store all the related benefits documentation securely. The platform will enable you to keep your finger on the pulse of your organisation. For instance, employers will be able to see at a glance if someone needs more time off than usual if they track their sick days in the platform, and therefore be able to provide support before it escalates.
As part of Mercer Marsh Benefits, Elect Engage has access to a wide range of benefit solutions from some of the top providers to meet employee needs. Their employee benefits experts understand how important it is for small to medium-sized businesses to be able to provide simple and flexible employee benefits solutions to their people.
By working with Elect Engage, the employee benefits you choose will not just be cost-effective for you, but they will also offer tangible benefits that your employees will appreciate. One aspect that employees particularly enjoy is the ability to access their benefits online, 24/7, which has the dual purpose of providing a constant affirmation of their value and of your support as an employer.
Mercer Marsh Benefits™ is the brand name of a service provided by Mercer Limited, a global consulting leader in helping clients around the world to advance the health, wealth and careers of their people.
References:
1https://warwick.ac.uk/newsandevents/pressreleases/new_study_shows/
2https://warwick.ac.uk/newsandevents/pressreleases/new_study_shows/
3www.glassdoor.co.uk
Other sources:
https://www.fastcompany.com/.../happy-employees-are-12-more-productive-at-work
https://www.tinypulse.com/blog/the-link-between-happy-employees-productivity
http://www.smf.co.uk/wp-content/uploads/2015/10/Social-Market-Foundation-Publication-Briefing-CAGE-4-Are-happy-workers-more-productive-281015.pdf