Attraction and Retention

Attraction and retention of talent is central to the success of organizations.  Studies have pegged the cost of turnover at around 25% to 200% of an employee’s salary, depending on the position.  Clearly turnover is expensive.

However, hiring the wrong people is just as expensive.  Benefit plans not aligned with corporate goals and objectives may attract the wrong person for your organization.  Most employers would agree that they do not want an employee to join the organization just for the Pension and Benefit programs.

Your Pension and Benefit program should supplement, not drive, your recruiting and retention strategies.

Building in flexibility, ensuring tax effectiveness, and utilizing cost effective strategies will make your benefit plan an important asset, and not a cost centre.