ALBUQUERQUE, N.M. — Local businesses are facing a new challenge – labor shortage.
More than 100,000 New Mexicans lost their jobs during the pandemic. But a glaring sign of a food franchise in Albuquerque reads, “We are short-staffed. Please be patient with the staff that did show up. No one wants to work anymore.”
Are the stimulus checks and pandemic assistance keeping workers at home? How can you encourage your staff to come to work?
What Motivates Employees To Work
If we base motivation on Maslow’s theory, the bottom or first level is to satisfy the basic needs. Physiological needs include food, shelter, clothing, warmth, and rest. These needs are the main reasons why a person gets up to work every day.
A worker’s salary can provide these basic needs, and so does the second level of Maslow’s hierarchy. Access to health and medical care is a universal right that falls under safety and security.
One factor affecting motivation and retention of employees to work is a company’s benefits package. Companies create incentives or benefits programs based on the physiologic and safety, and security needs.
Moreover, these incentives or benefits boost employee satisfaction, productivity, and morale. In a nutshell, company benefits make your employees happy.
A study enumerated some of these benefits provided by USA companies:
- Better health, insurance, and medical services
- Flexible work hours
- Work from home options
- Free gym membership
- Free daycare services
Why Albuquerque Businesses Are Offering Bonuses
Based on a study, one large USA company attracted prospective talented workers by offering wellness perks – yoga class, massage chairs, and personal chef in the office! It sounds like over-the-top perks for your business.
So, let’s zoom in on businesses and what they are doing to attract workers here in Albuquerque and New Mexico districts.
- Signing bonus: A downtown bar in Santa Fe hands out $500 as a signing bonus. If you think this is too much, a company offers a hiring bonus of $750 as security staff in Albuquerque.
- Higher salaries: A restaurant owner pays a worker $5 more per hour on top of the signing bonus.
- Other benefits program: A microbrewery with multiple locations in NM offers medical, dental, and vision services on top of increased wages.
Monetary benefits, though, don’t attract many people to apply for the jobs. A UNM associate professor said that people tend to choose jobs that offer higher pay. It adds stress to business owners who adjust their human resources (HR) budget to hire workers.
Health benefits draw people to a company, too. An HR solutions provider surveyed about 5,000 small business employees.
According to 60% of the employee-respondents, the most vital benefit they considered in accepting their present job was healthcare. It ranked number one, followed by paid holidays, vacation and sick leaves, and retirement plans.
To make your business competitive, you can consider going beyond monetary benefits. You may offer something that can positively impact your potential workers. Besides giving them signing bonuses and higher salaries, think about their health. You may provide other feasible benefits: health insurance, medical services, or healthcare through a Direct Primary Care provider.
How “Health Benefits” Impact Your Business
The hard-hit industries of the labor shortage are leisure or hospitality in Albuquerque. Construction, agriculture, and health businesses are also affected.
There is a lack of workers in restaurants everywhere in New Mexico: a chile farm in Socorro County, a construction site in SE, and home care in NE, Albuquerque. You may be one of the many businesses that need workers like them.
As the most valued benefit, health impacts your business in many ways, other than attracting potential workers. Some of these reasons have something to do about retaining the employees that still work for you.
1. It puts a plug on employee resignation
Your business must have lost workers during the pandemic. You may be trying to fill in vacant positions. At the same time, you’re striving to retain the good ones.
You have to know what your current workers need and want. Healthcare is essential, especially when COVID-19 is still a looming threat. They may have diseases that require more medical attention than others.
A survey reveals a critical factor in a worker’s decision to stay in a company. About 56% of the 1,000 U.S. adult respondents with employer-sponsored health benefits said it’s all about healthcare coverage. So, providing healthcare coverage for your workers minimizes the risk of losing them.
2. Good health is good for business
Healthy workers contribute more to your business. Taking care of them by providing healthcare benefits keeps your workers in good shape. Their productivity increases, and you will find employees use fewer sick leaves. It boosts their morale and prevents them from leaving your business.
3. It saves money
Offering health benefits to retain a worker is more cost-effective than hiring a new one. Letting go of a worker makes you shell out money on separation, productivity, and recruitment. Replacing a resigned worker equates to about 30% of the worker’s annual salary.
Moreover, offering healthcare benefits reduces insurance and administrative costs. Let’s take in, for instance, Direct Primary Care. You won’t have to deal with third parties. Instead of billing insurance companies, you pay directly to a Direct Primary Care provider with a fixed rate with no copays. Consequently, you won’t have to hire more staff or pay additional work hours for processing reimbursements and claims.
How Direct Primary Care Saves the Day
Healthcare coverage is always a key benefit a company can offer, regardless if there is a pandemic or not. A 2018 study reveals that 55% of workers stay in a small business enterprise whose employers show care for their well-being.
Three ways to motivate your employees to come to work:
1. Accessibility to high-quality healthcare
Most companies offer health insurance. However, higher out-of-pocket or fees for service affect how workers use healthcare services. They skip consulting a medical professional, labs, and medical procedures.
It’s where Direct Primary Care comes in. Direct Primary Care offers an annual membership fee at a fixed rate. Your employees have access to a wide array of healthcare and lab services without additional costs.
The selection of different touchpoints makes it more convenient for them. They can choose from telephone, text messaging, email, virtual consultation, or 24/7 telemedicine.
You may send an email today to firstname.lastname@example.org to know more about Well Life ABQ healthcare services.
2. Provide wellness and disease prevention
One of the top five benefits strategies is improving wellness programs and prevention initiatives based on a 2018 study. The highly-rated benefit to attract talent in a small business is creating a culture of well-being. In the same study, seven out of ten workers said employers must offer health benefits.
Well Life ABQ provides wellness programs such as weight loss, nutritional counseling, and women’s health. Prevention management includes regular physical exams and lab tests.
3. Convenience & Security to Care
Companies also consider Direct Primary Care because of care coordination. Your potential employees see one clinician for consultation who collaborates with a healthcare team.
It’s a streamlined process that eliminates the hassles of seeing different clinicians on every consult or medical service.
There’s consistent communication with one clinician who spends quality time with your worker. The time spent with the clinician allows for a personalized healthcare benefit that caters to the specific needs of your workers.
Getting Direct Primary Care in Albuquerque
The labor shortage in Albuquerque isn’t going anywhere. As a local business owner, you have to think of creative ways to retain and entice talented workers.
Giving incentives and bonuses can be a nice come-on and so does Direct Primary Care that works for both employee retention and recruitment with an offer of better health and well-being.
Ready to drive more potential workers to your business? Retain Employees and Quality Healthcare with NO COPAYS!