IN THE NEWS: Competing for Talent: What Municipalities Can Learn from Benefits Benchmarking

Recruiting and retaining employees landed at the top of the list when human resource and business professionals were asked in Apex Benefits’ 2109 Indiana Employee Benefits Benchmarking Survey, “What are your most pressing challenges?” Every day, leaders are challenged to consider how to better attract and keep quality employees.

A municipality’s key hurdle continues to be the ability to provide attractive benefits for employees while being strapped with limited and, sometimes, decreasing budgets.

What if there were a no-cost way to gain insight into the competitiveness of your benefits program compared to that of your public sector peers and private sector competitors?

The 2021 Indiana Employee Benefits Benchmarking Survey can provide that insight and is currently open for submissions until March 19.

Compare Your Benefits to Other Indiana Employers

Once you complete the survey, Apex will provide you with a custom benchmarking report which will compare your benefit plans and programs with the other survey respondents. Our public sector benefits strategists analyze and compare your benefits packages to other employers and provide you with opportunities for improvement.

For example, the pandemic has brought family leave, flexible time off and mental health services to the forefront. The 2019 Benchmarking Report found that just 62% of Indiana employers offered an Employee Assistance Program to support employee mental health. How has your organization responded to evolving employee needs in light of the pandemic and how does that compare to other public sector entities?

Benefits That Go Beyond Health Insurance

While true the bulk of employee benefits planning involves looking at how much a monthly premium will be or what the annual deductible is on medical insurance, a strategic benefits package is so much more than that. Benchmarking your benefits annually can provide your organization with a deep analysis and ultimately lead to increased employee engagement and productivity.

While you or your current benefits advisor can reference regional and national data from organizations such as Kaiser and MetLife, access to Indiana-specific data is vital in being able to compete locally. To participate, visit benchmarking.apexbg.com.