In fact, today’s governmental organizations invest 35% to 43% of their overall compensation spend on employee benefits. And for good reason: 87% of them rank “recruiting and retention of personnel qualified for public service” as a top issue.
This investment by the public sector overshadows all other industries.
Although governmental organizations spend more on employee benefits than any other industry, 1 in 7 public sector HR pros claim their benefits package isn’t competitive. Meanwhile, the private sector enjoys the flexibility of expanding or contracting their benefits to meet the expectations of a rapidly evolving job market.
Meanwhile, overwhelmed HR teams need a partner
As the public sector competes for talent with the private sector and vice versa, benefits have become more complex than ever. Now, administering those benefits is just as important as the benefits themselves.
In fact, 6 in 10 employers say they are “overwhelmed” with the complexity of managing benefits programs. And among governmental organizations, a mere 17% say their current human resources management system is meeting their business needs.
This guide can help
Public sector employers looking for the right benefits administration partner can use this guide to ensure they’re asking themselves the right questions, such as:
What’s my projected total cost of ownership throughout the contract?
How dedicated is the vendor to employee benefits in the public sector?
Will my platform support my future benefits strategy?