CBC Health News

Benefits Insights  

April 28, 2022

closeup of perscription drugs surrounding the face on a 100 dollar bill


The Best Benefits Offerings to Avoid the Great Resignation

Employees are walking away from their employers in record numbers. A Prudential survey conducted toward the end of 2021 found that 46% of workers were actively seeking or considering finding a new job, and labor statistics backed those findings. According to the U.S. Labor Department, approximately 4.5 million workers quit their jobs in November 2021, setting a new record.


This might appear like welcome news for employers looking to hire—greater unemployment means more potential job candidates. However, confoundingly, there were still around 1.5 available jobs for each unemployed person near the end of 2021, according to USA Today. And, for the last six months of the year, job openings posted by employers topped 10 million, according to the U.S. Labor Department.


This information helps illustrate the key problem employers face right now: Workers are willing to quit jobs—and turn down open positions—that don’t satisfy their needs. During this period of mass resignation (sometimes referred to as “the great resignation”), employers need to demonstrate their value to employees or risk losing them. In other words, employers must show that they can provide workers with more than just a paycheck. One of the best ways to do this is by expanding employee benefits offerings.


This article outlines some of the most attractive perks some employers are using to strengthen their attraction and retention efforts.


Affordable Benefits, Generally

Many workers who quit their jobs at the end of 2021 were front-line, low-wage or low-level employees, according to a Mercer survey. Few of these workers—often from the service sector—had access to meaningful employee benefits, if any at all. After enduring the worst of the COVID-19 pandemic, these employees concluded that their labor wasn’t worth their compensation.


Savvy employers have picked up on this and are now beginning to offer more attractive offerings to low-level employees. Beyond increased compensation, some employers are starting to offer affordable health plans and financial wellness resources. Since these workers have historically been unable to access such offerings, even modest benefits can make a huge difference when courting these employees.


Retirement Plans

Retirement uncertainty remains a top concern for employees. Only 62% of workers feel secure about their ability to save enough to retire, according to the Employee Benefits Research Institute.


Providing employees with retirement plan options, such as a 401(k), can be a great way to add value and financial security to a position. Some employers have been going further with their offerings and have started increasing their retirement plan matching. Such efforts help prove an employer’s investment in employees and their futures, which, in turn, fosters greater workplace loyalty.


Flexible Work

Workplace flexibility is another critical issue for employees. A Gallup survey found that 91% of workers who worked from home at least some of the time during the pandemic want to retain that perk indefinitely. Separately, according to a Randstad survey, nearly a quarter of employees (24%) said flexible working hours are the most important employee benefit. These figures indicate that if employers want to stay competitive, they will need to allow for some workplace flexibility—whether through flexible work hours, work-from-home arrangements, or hybrid work scheduling.


Moreover, by 2025, almost a quarter (22%) of the U.S. workforce is expected to be fully remote, according to an Upwork study. That’s why some employers are expanding their flexible work policies now to recruit talent. According to a Robert Half survey of senior managers, 41% said they were now allowing employees to choose where they work. Employers can expect to see similar policies crop up soon as workplaces compete for employees in this evolving market space.


Personalized Well-being Resources

Personal well-being has never been more important to employees than during the COVID-19 pandemic. This makes sense given that the pandemic exposed and worsened issues, including financial insecurity and mental health problems.


Some employers are expanding their voluntary benefits to help workers deal with these types of issues. After all, helping employees navigate personal problems at home can lead to better focus and productivity in the workplace. That’s why employers are tacking on benefits such as mental health counseling, financial planning assistance and student loan repayment plans.


consultation between business man and prescription drug provider



Choosing the right employee benefits for a workplace can be a tricky decision. Employers must weigh employee desires against benefits budgets and operational objectives. Yet, despite potential challenges, providing meaningful benefits is certainly worth the effort. In this unprecedented labor market, an employer’s benefits offerings can be the difference between a satisfied workforce and a great resignation.


Reach out to Custom Benefit Consultants, Inc. to discuss benefits options that are right for your unique workforce.


Note: This Benefits Insights is not intended to be exhaustive, nor should any discussion or opinions be construed as professional advice. © 2022 Zywave, Inc. All rights reserved.


Blog Tags:

Benefits, Best benefits, Employee, resignation, retirement, flexible work, well-being




Recent Blog Posts:

art of celebrating employees in front of the word team

Employee Recognition

Read More »
Statistic trends chart with magnifying glass

2022 Voluntary Benefit Trends

Read More »
Girl using a laptop to view her benefits

Maximizing Open Enrollment

Read More »
artistic rendering of Machine Readable Files

Machine Readable Files

Read More »
woman cooking a healthy meal

Live Well, Work Well

Read More »
Couple hiking on vacation

Open Enrollment Prep

Read More »

5 Summer Wellness Tips

Read More »

Remote Work Newsletter

Read More »

Evaluating PPO Networks

Read More »

SHRM 2022 - Annual Conference & Expo

Read More »
Business Executive at a fork in the road deciding between Pass-through or Traditional PBM

Pass-Through vs Traditional PBMs

Read More »
Business Executives putting puzzle pieces together

6 Things to Look for in Your PBM

Read More »
CBC Health Insurance marketplace for Costco Members Tradeshow Booth

How to Lower Your Rx Costs

Read More »
CBC Health Insurance marketplace for Costco Members Tradeshow Booth

Come See Us At HBLC 2022

Read More »
Photo of woman kicking away a stack of doughnuts, cookies and confections

How to Kick those Sugar Cravings

Read More »
coworkers discussing goals

Let's Snooze

Read More »
 coworkers discussing goals

Dream Maker Meetings

Read More »
Chalkboard with text saying: Dream big, set goals, take action

Blow your own mind - Setting Goals for Success

Read More »
XenoEstrogens molecule diagram

XenoEstrogens - What Are they?

Read More »
Group of CBC employees helping families in need

Feeding Families in Need

Read More »
generic pills in containers

Potential Generic Drug Savings

Read More »
Woman using TeleHealth Services on laptop

Telehealth and COVID-19

Read More »
Covid testing result

CBC & Quest Diagnostics Partner to Provide COVID-19 Testing

Read More »




Copyright © 2019 CBC. All Rights Reserved. | Terms of Service | Privacy Policy | Data Requests