As we reach the halfway point in the year, you may be seeing signs of your team starting to flag. 

Whether it is caused by internal or external factors is irrelevant. The real question is how do you lift your workers out of the mid-year blues? 

There are a few methods available that can break the monotony and inject fresh impetus into your company’s efforts…

With Great Resignation and talent shortage on the market that happened less than a year ago, it’s especially important to make sure your company doesn’t have extra expenses on new talent acquisition, etc. 

SHRM, The Society for Human Resource Management reported that on average it costs a company 6 to 9 months of an employee’s salary to replace him or her. For an employee making $80,000 per year, that comes out to $30,000-$45,000 in recruiting and training costs. 

There are a couple of other numbers that you should consider. 

According to Zippia – The Career Expert agency that performs research – U.S. workers have an average tenure of about 4.1 years with a single employer.

The Problem

65% of American workers are actively searching for a new full-time job RIGHT NOW!

So is there a chance that some of your employees are in this 65%? Numbers suggest that there’s a huge probability of that. 

And by the way, simply offering “OK” working conditions within the industry is not enough – you have to consider the fact that middle-aged workers are the most likely group of people to make a major career change. Middle Agers are the ones showing up every day on time, and giving you a full day’s work.

A recent poll by FASTCOMPANY found that approximately half – or 52% of American employees are considering making a career change this year, 44% are already planning to make the switch. 

The average age that most employees make a major career change is 39 years old. Experts point to less financial risks and personal stresses as the main reasons 39-year-old workers seek such significant career shifts. 

In addition to the average age of job hoppers, it’s also important to note that most people looking to switch careers are NOT IN IT FOR THE MONEY. In fact, 58% surveyed by “INDEED” (a huge US job site) said that they would be willing to take a pay cut to make a major career change. 

Individuals working in the private sector tend to change careers more frequently than individuals working in the public sector. Public sector employees had a median tenure of 6.5 years, while private-sector employees had a median tenure of just 3.7 years. 

Flexibility, Financial Incentives, and Employee Benefits Are The Top Reasons People Change Jobs.

Negotiating a more lucrative salary, having more flexibility – including the ability to work remotely or on a hybrid schedule – and getting better benefits are, according to CNBC, the top reasons people change jobs and make major career shifts. 

So in order to stay on top of the game you need to make sure that you’re doing your best to get and stay competitive in all three matters. 

And here’s what you should know about employee benefits trends of 2023: 

1. Increasing Healthcare Costs

The Peterson Health System Tracker reports that total health expenditures represent one-fifth of the U.S. economy. Knowing that one of the emerging trends in employee benefits is an increase in medical spending, employers – INCLUDING YOU – should take steps now to be prepared.

I will remind you that instead of trying to figure out everything all by yourself – you only need to go to and choose the date / time that works best for your schedule. We’ll have a sit-down, we’ll talk, and develop a strategy to find solutions.

2. Employee Voluntary Benefits

Voluntary benefits are services or goods that are paid either fully or partially by the employee, but at a group discounted rate made available by the employer. Examples typically include ancillary benefits that fall outside of traditional benefit packages such as ID theft protection, financial counseling, healthy lifestyle programs, and supplemental insurance packages such as life, cancer, and even pet coverage.

Employers are continually seeking ways to attract and retain talent. Offering voluntary benefits is one of the growing trends in employee benefits because it gives employers the freedom to find ways to provide added value to their employees while minding the business’s bottom line. Employees can choose the benefits that are best suited to their needs and lifestyle, and you aren’t paying for benefits that your employees don’t use or appreciate.

3. More Focus On Employee Mental Health

Paychex surveyed more than 1000 workers to find out how the pandemic has affected their mental health at work, and around 51% of respondents said their mental health had worsened during the pandemic. Around one-third reported struggling to achieve their typical level of productivity due to their current state of mental health. ONE THIRD! And it is being mentioned that recruitment, retention, and productivity success will likely favor those employers that provide mental health benefits.

4. Expanding Paid Leave Policies

Expanding paid leave policies can also help give workers financial peace of mind in the event they need to care for themselves or their family members who are experiencing a medical emergency.

5. Embracing New Technology

Employee benefits technology trends point to businesses relying more on technology and going digital with their HR and benefits. Doing so can give leadership easy access to data and analytics for better decision-making. Self-service systems or tools – like the BETTER SOURCE BENEFITS APP, FOR EXAMPLE – allow employees to perform functions such as reviewing their benefits, adding dependents, etc.

If we consider the given numbers, and the fact that it costs on average $45K to replace a single employee – adapting your company to the current environment and the “new norm” seems like an extremely profitable deal, that doesn’t require significant investment.

But it does require a click from you.

Click here to arrange a one-on-one meeting with John Clay >>