Old Mutual Workplace Benefits Primary<\/strong><\/a> Research, powered by LIMRA, found that 82% of employees are inclined to stay with their current employer because of their benefits package. Employee loyalty increases as job satisfaction, benefit satisfaction and the number of benefits offered increase.<\/p>\n\n\n\nWhen asked to rank their top five factors when considering a potential employer, only 27% of employees named income as their highest priority. <\/p>\n\n\n\n
\u201cThis means that whilst salary is a key hygiene factor, 73% of employees also ranked something other than salary as the most important factor when considering a new employer,\u201d explains Lindiwe Sebesho, Managing Director of Remchannel.<\/p>\n\n\n\n
Having said that, 56% of employees had salary\/income in their top five considerations. \u201cMoney will always talk,\u201d says Sebesho. <\/p>\n\n\n\n
\u201cBut perhaps just not as loudly as one might expect it to, especially if it\u2019s not part of a holistic employee value proposition.\u201d <\/p>\n\n\n\n
Other top-ranked attraction factors included retirement plan, medical benefits, work-life balance and opportunity for career advancement.<\/p>\n\n\n\n
In a tough economic environment, employees often face urgent and immediate financial pressures. <\/p>\n\n\n\n
To help organisations navigate those realities, Old Mutual Corporate Consultants (OMCC) and Remchannel have launched Talent Vantage\u2122, which combines Remchannel\u2019s cutting-edge remuneration insights with OMCC\u2019s extensive experience in employee benefits.<\/p>\n\n\n\n
Talent Vantage\u2122 helps organisations to address their employees\u2019 short-term financial needs by setting competitive pay packages based on remuneration benchmarks that are crafted to relevant industry and national standards. <\/p>\n\n\n\n
This helps companies to remain efficient while attracting top talent.<\/p>\n\n\n\n
\u201cRemuneration and employee benefits are not separate things,\u201d says Sebesho. <\/p>\n\n\n\n
\u201cWe certainly don\u2019t see them that way \u2013 and neither do employees! They\u2019re part of one continuum that employers can structure carefully to attract and keep the best employees.\u201d<\/p>\n\n\n\n
\u201cEmployee benefits have been too siloed and paternalistic for too long,\u201d Utete concludes. <\/p>\n\n\n\n
\u201cThe world has moved to where Talent Vantage\u2122 is, where employee benefits and remuneration packages are structured with the big picture and the needs of all parties in mind.\u201d<\/p>\n\n\n\n
Find out more about Talent Vantage, a collaboration between Remchannel and Old Mutual Corporate Consultants<\/a>, <\/strong>(*a division of Fairbairn Consult, a licensed FSP).<\/strong><\/p>\n\n\n\nRemchannel (Pty) Limited and Fairbairn Consult FSP9328 are members of the Old Mutual Group<\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"Working South Africans are under significant financial stress – but flexible employee benefits can help to support their financial wellness.<\/p>\n","protected":false},"author":57,"featured_media":800100,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10459],"tags":[1110,16130],"class_list":["post-800097","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-news","tag-old-mutual","tag-old-mutual-corporate"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/800097","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/57"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=800097"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/800097\/revisions"}],"predecessor-version":[{"id":800167,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/800097\/revisions\/800167"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/800100"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=800097"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=800097"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=800097"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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