If you are an employer trying to attract and retain top talent, you must provide your employees with attractive benefits. While salary and monetary benefits are important, they aren’t all that matters. Job seekers also consider their welfare at work, flexibility, and their ability to balance work and social life. If you do not invest in the happiness of your top employees, they will leave sooner than you expect.
Health and Wellness Incentives
Top employees, especially millennials, prefer to work with companies that prioritize their wellness and mental health. Consider offering wellness programs that promote healthy living. If employees spend most of their day sitting in front of a computer, going to the gym may not seem like a priority. Consider providing them with an on-site gym or fitness classes. If you create space and time for activities like cycling, boxing, and yoga, your employees can work out before leaving work. If you cannot afford to create a fitness or wellness center, consider planning workout sessions for the entire team once every week or month.
This will also ensure legal concerns within a company are met. For example, employers must offer safe working conditions for their employees and make sure that they are aware of any potential risks when in the workplace. Make sure to read more about MEWA at erisaadvisorygroup.com so you can figure out the best way to implement a wellness program without putting your company at risk. For example, you may provide employees with a certain amount of money to spend on gym memberships or sports equipment.
Tuition Reimbursement
Tuition fees are consistently increasing and tuition reimbursement may be one of the most attractive employee benefits. It helps employees pay off their undergraduate bills while encouraging them to pursue other professional programs. If you help your employees increase their skills, they will perform better at their job.
Parental Leave
Paternity and maternity leave are some of the most expected employee benefits. Balancing family and work life can be difficult and your employees should feel that you care about their family life. Consider offering an extended parental leave along with financial support during that period.
Retirement Planning
This benefit helps employees secure their future. The economy fluctuates from time to time and having a plan is essential. Your employees may not be the best financial planners and a little help in retirement planning would go a long way in preparing for their future. Employers may also make contributions toward their employees’ savings.
Medical/Vision/Dental Insurance
Flexibility
Flexible times have become a priority for most employees. Consider creating flexible working schedules to help your employees balance work and personal life. According to information explained at Zenefits.com/benefits/, flexible schedules do not mean that employees are not going to get their full working hours in. It only means that they will get a chance to meet other personal responsibilities while at work. Providing flexible working hours lets your employees know that you trust them and care about their general wellbeing.
Office Celebrations and Perks
Employees should enjoy their workspace. Consider putting in the effort to make your office space just as fun as it is professional. Since your employees spend most of their time at work, create amenities that make them excited to show up to work. Practical office perks include gaming rooms, ping pong tables, catered lunch, and Zen rooms. Use monthly celebrations, team happy hours, and summer outings to promote a positive work environment.
Rewards and Performance Bonuses
Offering a good salary may not be enough to retain your employees. The best employees want to work in companies that constantly reward their hard work. This benefit promotes productivity and healthy competition.
Paid Time Off
Companies with generous paid time off are likely to retain their employees. Since employees spend most of the year working, they will appreciate paid time-off. This benefit gives employees time to recharge. They are likely to be more productive when they get back to work. Many employees may prefer a paid vacation time over a salary increase.
Commuting Discounts
If you do not have a remote team, consider giving your employees commuting discounts. Employees spend a lot of time and money commuting every day and it would be great to have some compensation. Other than salary, the commute is one of the most important things that job seekers consider. Commuting discounts may help you attract talent from far.
In conclusion, both small and big businesses may use these employee benefits to attract and retain top talent. They do not only reward employees for their work but also make it possible for them to do a good job. While it may be impossible to practice all of them, all employers should find employee benefits that are relevant to their work environment and implement them.
