In 2021, according to the U.S. Bureau of Labor Statistics, over 47 million Americans voluntarily quit their jobs — an unprecedented mass exit from the workforce spurred on by COVID-19, that is now widely known as The Great Resignation. Today, with just just below 1.8 positions available for every job-seeking American and 11.3 million job openings to fill, association members may be seeking ways to keep up.
Whether your association is made up of employers, individuals, or some combination of the two, The Great Resignation has forever changed the post-COVID job market. Here are three ways that associations can assist their members in responding to these changing times.
Changing Workplace Culture
As many employers compete harder than ever for employees, helping employers rethink their work culture can be a useful endeavor in securing a long-term workforce. By providing members with an objective source of current trends in work culture, such as increasing flexible hours, utilizing contract workers and sharing success stories, associations can be the nucleus for important discussions and solutions.
Broadening Benefits Offerings
Alongside job flexibility, current employees, new applicants, and contract workers put company benefits at the top of their “pro” list. Employers willing to offer benefits like health insurance and remote working policies will be best suited to compete in the labor market. Associations that offer professionally vetted products and services, such as telemedicine benefits, medical subscriptions, or discount plans that can reduce the costly out-of-pocket expenses workers may face provide a real, tangible benefit to members and their employees.
Finding Cost-Effective Insurance Plans
Size matters. Insurance is based on the law of large numbers — meaning the more people there are, the lower the risk, and the lower the risk, the lower the price. While this is a well-known fact with major medical insurance and holds true for all insurances, small employers are the backbone of the US economy, making selecting and purchasing benefits limited, expensive and painful. This means associations and insurance carriers are looking for the same thing: numbers. Partnering with benefits consulting firms, associations can bring their members the cost-effective options they need.
Whether members are individuals who are part of The Great Resignation or employers competing in these trying times, these simple response strategies can help forward-thinking associations offer valuable benefits to those in need. Visit abenefitsconsulting.com/contact/ to learn more about helping association members thrive today.