On Wednesday, October 30th, 2019, China General Chamber of Commerce – USA (CGCC) hosted a Lunch & Learn event in New York titled “How Your Company’s Employee Benefits Can Help to Attract & Retain Talent”. Richard Kosinski and Gui Wu from Brio Benefit Consulting shared their insights and suggestions on how companies can better utilize and plan their employee benefits and discussed the various communication strategies companies can use to present these benefits to employees.
Talent attraction and retainment have always been a pillar stone of company development. According to CGCC’s 2019 Annual Business Survey Report on Chinese Enterprises in the United States, 48% of the interviewed companies will increase recruitment in the next two years and 14% of them plan to increase the number of employees by more than 30%.
As Mr. Wu, Strategy Advisor at Brio Benefit Consulting, mentioned in the presentation that effective communication of employee benefits plays an important role in talent attraction and retainment. “81% of employees who can easily access their benefits said they feel loyal to their employers”, he said, referencing a recent study on global employee benefits.
Mr. Wu went on to explain that different employee demographics respond more effectively to specific information receiving habits. Therefore, companies should utilize different modes of communication to increase their employee’s awareness of their benefits. For example, depending on the generation of the employee (baby boomers, Gen X, Millenials, and Gen Z), various communication channels such as videos, booklets, email, apps, face-to-face meetings and interactive websites may be more effective in commuting benefits than others.
Later, Mr. Kosinski, Partner at Brio introduced some popular lifestyle benefits that companies can consider providing to their employees to diversify their benefits package. Some lifestyle benefits discussed included, pet insurance, fitness credits, meditation services, fertility and adoption services, and virtual health consultation. In the end, Mr. Kosinski summarized that effective and ongoing communication of good benefits is one of the keys to attracting and retaining employees.
CGCC greatly appreciates Brio Benefit Consulting for supporting the CGCC Lunch & Learn Program and sharing their expertise with CGCC members.
Click here to learn more about Brio
Founded in 2005, the China General Chamber of Commerce – USA (“CGCC”) has been recognized as the largest and most influential non-profit organization representing Chinese enterprises in the U.S. Its membership consists of more than 1,500 Chinese and U.S. companies, 54 of which are ranked on the 2019 Fortune Global 500. CGCC’s mission is to create value, generate economic growth, and enhance cooperation between the U.S. and Chinese business communities. CGCC conducts extensive research and provides a broad range of programs, services, and resources to its members and key stakeholders in an effort to foster the mutual understanding, trust, and engagement between China and the U.S. As of 2018, CGCC’s Chinese member companies have cumulatively invested over $120 billion, employ more than 200,000 people, and support over one million jobs throughout the United States.
CGCC is a national organization and includes CGCC-New York (CGCCUSA-HQ), CGCC-Chicago, CGCC-Houston, CGCC-Los Angeles, CGCC-San Francisco, and CGCC-Washington D.C.