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Washington State SHRM Benefits Survey: How does your benefits package stack up?

    As HR professionals we are well aware of the important role employee benefits play in attracting and retaining employees.

    According to a recent study conducted by SHRM, to remain competitive in today’s talent market place, 1/3 of organizations increased their overall benefits offerings in the last 12 months. This same study revealed that 40% of employees considered the possibility of seeking employment elsewhere in the next 12 months.  The leading reason for employees looking for external positions was higher compensation/pay (56%), followed by better overall benefits (29%). In terms of motivation to stay with an organization, compensation/pay (44%) topped the list, followed by flexibility to balance work and life issues (34%) and the overall benefits package (32%).

    In Washington State, the labor market continues to tighten, with an overall unemployment rate of 4.3% and increasing wage compression issues, companies are struggling to fill key positions. So, how does your benefits package stack up? Wouldn’t you like to know what types of benefits are being offered by other employers; how to provide more personalized choice in your benefit packages; ways to reduce cost and shift risk with alternative contribution strategies; and much more?

    Washington State SHRM is conducting a statewide Employee Benefits Survey. This survey will provide detailed information regarding the various benefit programs offered by employers throughout the state. The survey opens for participation on Tuesday, September 12, 2017. Results will be published in mid-November. Survey participants who are SHRM members and affiliated with a local SHRM chapter will receive the results for free!

    Get complete details and claim your COMPLIMENTARY Comprehensive Employee Benefits Report by participating in the online survey no later than Friday, September 29th by visiting WaStateCouncil.SHRM.org/BenefitsSurvey .