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Benefits to attract talent
How can your company’s benefits strategy be used as way to attract talent?
Important information: This information is for scheme sponsors’, trustees’, their advisers’, and consultants’ use only and should not be relied upon by individual investors.
In tight talent markets, many employers look to pay as the main solution to attract new talent. But higher pay, while important, isn’t the only factor that encourages employees to seek a new job.
Our research indicates that workers are changing jobs to improve many aspects of their overall well-being: from finances to health to elements in both their personal and professional lives1.
Jason Jagatic, Head of Workplace and Global Thought Leadership, Fidelity Investments
Top types of support workers want from their employers
Employees are also looking for a wide range of support from their employees across flexibility, well-being, and finances.
Mental health & well-being
Source: The Fidelity Global Sentiment Survey, 2022
A focus on well-being could boost employee engagement
In our 2023 Global Employer Survey, we also see a continued relationship between employee satisfaction rates and levels of employer responsibility for wellness. Yet companies feel less responsible for steps taken in support of employees year over year.
Percentage of employers who report having employees who are very and/or extremely satisfied.
Defining Financial Wellness
Watch our video to see the positive impact of broadening your definition of financial wellness on talent attraction.
Watch time: 1 minute
Steps for employers to consider
Invest in employee well-being.
In addition to reviewing your definition of financial wellness, consider a financial well-being solution such as Fidelity Financial Wellness as an easy to implement, education first, support for your employees.
Review stock plan offerings.
Consider a company stock plan to improve employee engagement, drive employee ownership, and enhance compensation.
Consider total rewards.
After reviewing your offerings to confirm if your programs are aligned to your company culture and values and your employees’ needs, consider a Total Rewards approach to articulate and differentiate your offering.
Hear from our experts
Elizabeth Ryan and Dan Smith discuss harnessing the power of benefits to attract and retain talent.
Watch time: 7:30 minutes
1 Source: Internal Fidelity Investments survey of 2,334 plan participants based in the U.S., fielded 5–11 November 2021.
Fidelity refers to one or both of Fidelity International and Fidelity Investments. Fidelity International and Fidelity Investments are separate companies that operate in different jurisdictions through their subsidiaries and affiliates. All trademarks are the property of their respective owners.
The survey sample consisted of 1,002 senior leaders at U.S. and non-U.S. based MNCs where the company has a presence in two or more international markets (average = 10), employs at least 1,000 workers, is for-profit or non-profit (government bodies were excluded), in some cases there may be responses from more than one senior leader from a particular company.
The survey was conducted by Dynata, a third-party market research company using their global research panel in conjunction with their partner vendors. The survey was fielded in March 2023.