Credit unions compete to recruit and retain quality employees by offering a wide range of benefits. But could that competitive edge be in jeopardy because of rapidly rising costs?
Over the last few years, the high costs of benefits have forced more credit unions to make cutbacks, increase employee cost sharing and leverage other cost savings initiatives such as workplace wellness programs
In a recently released white paper, the CUNA Human Resources/Training Development Council looked at how credit unions are addressing the challenges of meeting employees' needs through affordable benefits programs, providing the financial security they seek and helping credit unions retain and recruit productive employees. In addition to reviewing the current benefits landscape and its popular program components, the white paper also offered insights on analyzing credit unions' benefits programs as well as making and implementing benefits decisions.
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