It’s not an easy job market for employers right now. The national unemployment rate has remained at near-record lows for several quarters, and many companies are in intense competition to attract the best and brightest young employees to their workforce.
For many millennials, higher wages are no longer enough. Because of this, many leading companies are adding non-traditional benefits to their employment packages. One of the most attractive of these new benefits is student loan repayment assistance.
“Many companies are searching for a benefits solution that helps differentiate themselves from their competition and attract young, energized employees to join their workforce,” said Michael Riordan, operations manager at BenefitEd. “Many of their top candidates borrowed for their education. Statistically, well over half of those borrowers owe at least $20,000 in student loans after graduation. That makes BenefitEd an attractive benefit for our potential clients and their employees. We see a lot of increased interest from businesses of all sizes and in all sectors.”
BenefitEd’s newest clients span several industries, showing that the struggle to attract and retain employees isn’t just limited to tech companies or certain geographic areas. Their most recent clients include RehabVisions, Insuramax, M3 Insurance, Shawcor, West Yost, Yello, and SECO Energy.
These companies join the expanding list of progressive employers that have made addressing the rising cost of education central to their employee engagement strategies.