Currently, over 70% of US employers are unsatisfied with their job dimensions. This leads to high turn over rates for employees, which then results in wasted money for your business. Which is why knowing what the most important benefits to employees are is a huge benefit to your business.
Want to attract great talent and keep your star employees? Start by reviewing our list of appealing job benefits.
As much as your employees love working for you, chances are they don’t plan on doing it forever. Which is why employees tend to lean towards job opportunities that offer strong 401k packages. This benefit can give them some peace of mind when it comes to their future.
While most states require a basic level of retirement pay for full-time employees, you can always sweeten the deal by adding additional stock options.
Work Place Flexibility
When we refer to workplace flexibility we’re not talking about remote work. It’s important as an employer to offer mobility in the workplace. The ability to not stay stagnant at the same desk day after day is appealing to many potential employees. By using an open workspace design you allow creativity and productivity to flow more freely.
In the event that an employee is let go (for reasons that were not within their control), it helps to provide a cushion. Potential employees will gravitate towards opportunities that offer them security, especially in industries that have a high turn over rate.
Consult with HR on what is standard and try to add an additional month of payment if possible.
It’s a known fact that the US provides some of the worst maternity leave coverage in the world. In fact, 40% of women in the US don’t qualify for maternity leave, and that’s without taking into account maternity coverage for men.
By adding a strong maternity leave package for both men and women, you’ll have a higher chance of attracting quality talent. You’ll also increase the likelihood that your employees return to work after having a child.
It’s no secret that the cost of advanced education is on the rise, and many students are choosing to cut their education short to avoid a mountain of debt. Which is why many talented employees will favor companies that provide education reimbursement programs.
In these programs, companies pay all or part of the student’s tuition while they continue their education, typically for masters or doctorates degrees. In exchange for the payment, the student agrees to work for the company for a specified period of time once they graduate. Not only does this allow the student to further their education, but it also increases the number of well-educated employees working for the company.
Many employees are left with little incentive or drive when they are met with the same paycheck no matter what results they provide. Rather than “scaring” employees into keeping their jobs, smart companies provide additional bonuses based upon outstanding performance from their employees.
With today’s rapid advancements in technology and a plethora or project platforms, there are very few jobs that can’t be completed from home. Which is why employees value companies that offer telecommuting options, especially in cases where the employee has a small child or a long commute.
Helping your employee advance their skills as a professional benefit both the individual and their employees. This can be accomplished by providing your employees with unique professional enhancement opportunities such as courses, retreats, and seminars.
Not only will this help you keep a competitive edge, but it will also help your employees know you care about the state of their career not just your profit margin.
The cost of receiving medical care for emergency or basic needs can quickly add up. In fact, many Americans put off seeking medical attention due to not having health coverage.
This is one area where it’s important not to skimp. Your employee’s health is important, and you want them to be able to seek out the care they need when they need it. By choosing the right health insurance for your employees you can keep them in their most productive mental and physical state.
Paid Vacation Time
Taking periodic breaks and spending time with family is necessary to recharge and maintain productivity at work. Which is why vacation time is vital. Unfortunately, many employers put off vacation days out of fear of missing out on pay.
Providing paid vacation days is not only the right thing to do but in many states, it’s also the law.
Many companies are catching onto the many benefits of adding wellness programs to their employee benefits packages. These programs can range from fitness activities to community service activities. Even social media royalty Facebook has a specialized nap room where employees can go to get a bit of shut-eye.
Family Friendly Benefits
Employees with families are more likely to be drawn to benefits that extend to the members of their family. This means full health care, maternity leave for both husbands and wives, and other forms of extended care.
In office benefits such as nursing rooms and daycares can also make it easier for employees with infants or small children.
Your employees want to rest easy knowing that no matter what happens their family and loved ones are taken care of. This is why life insurance can be appealing to potential hires.
There are several types of life insurance you can offer your team; whole life insurance, variable life insurance, and universal life insurance. There are also a number of ways to purchase health insurance, depending on your budget.
Everyone loves extra perks. This could be anything from a free coffee from a high-end espresso machine to in-office messages. Bonus points if the office perks match your brand (such as a juice bar for a health magazine), as this helps enforce your brand’s culture.
Choosing the Most Important Benefits to Employees
Among the many benefits, you can offer the most important benefits to employees are those that benefit their mental, emotional and physical health.
If you’re putting together your benefits package and aren’t sure where to start, we suggest checking out our article on choosing the right health insurance for your family.