Employee Benefit Offering Suggestions to Attract Employees
Nowadays, employers have to balance monetary compensation and attractive work benefits to create a package that will draw potential employees and keep existing ones. A good combination of non-monetary employee benefits such as a more casual dress code paired with a paid vacation could keep employees happy and productive.
With that in mind, here are the top seven benefits to offer potential and current employees that could help your business grow efficiently and profitably:
- Wellness programs
A company’s wellness program encourages employees to live a healthy lifestyle. Ensure your employees’ good health by providing them several options to try as part of a comprehensive health program.
Some of the options you could consider including are free or discounted gym membership, healthy meal offerings, health screenings, and competitions such as fun runs or triathlons. In general, your wellness programs should encourage employees to keep fit and maintain optimal health.
- Paid sick leaves
Paid sick leaves tend to attract employees since they can focus on getting better without worrying about deductions from their salaries. This benefit encourages employees to return to work as soon as they are well, compared to companies that deduct sick leave wages from salary.
Paid sick leaves also help protect other personnel from contracting contagious diseases. They also allow employees to return to work fully recovered.
- Office perks
Offering simple perks such as giving employees nap breaks in designated rooms, free coffee, snacks, and games to play during breaks are proven to boost productivity and job satisfaction rates. Providing these perks gives you the benefit of happy and satisfied employees and increasing your overall productivity.
Not all office perks have to be expensive. When planning your employee benefits, try to consider your workers’ everyday needs and wants. Otherwise, you could be offering perks that don’t benefit anyone.
- Option to buy stocks
Giving employees the option to buy company stocks is an excellent strategy. This makes workers feel that they are contributing to the company’s growth while making their investments grow. Offering this as a perk also gives employees a sense of belonging and encourages a desire to attune themselves to its vision and mission.
A well-designed stock option program can help boost your company’s bottom line. This often results in a ‘win-win’ situation for everyone involved and motivates employees to do better.
- Paid parental leaves
Taking time off work to care for children or family members can be offered as part of parental leave. This benefit may include paternity, maternity, or adoption leaves.
Parental leaves are also sometimes referred to as family leaves. Employees always appreciate paid parental leaves as they allow time with their families without worrying about salary deductions.
- Insurance plans
Employee benefit plans show your employees that you care about them. With these plans, the company usually pays a specific amount to cover the costs of their employees’ medical care. Such programs typically cover accidents, disability, sudden death, and dismemberment.
Companies that offer insurance plans tend to be more attractive to prospective employees when applying for jobs. It is always a good idea to provide insurance to help employees feel safe in their careers.
- Paid vacations
Paid vacation ranks among the most sought-after benefits that employees look for in a company. Vacations improve job satisfaction rates, boost creativity, and contribute to employee productivity and overall health.
Employers can boost employee retention and recruitment considerably by offering paid vacations. Vacation days can range from ten to 15 days, depending on company policy.
Conclusion
Offering attractive benefits is essential for recruiting and keeping the best employees. They are especially effective when paired with a competitive salary. But you should also strive to offer benefits that actually matter to your employees. Excessive or extravagant perks such as all-expense-paid vacations to exotic places may do the company more harm than good.
The good news is that businesses can offer valuable benefits with little or no cost. Keeping the employees’ needs in mind also matters, as it ensures that your workers get benefits that fit their current needs. Surveys among current employees and potential hires could give you a better idea of what your employees truly need in terms of benefits.
Remember, happy employees make for a good business and satisfied employers.
Follow these suggestions, and you will likely see a significant improvement in your company’s recruitment and retention rates.
About Daniels Insurance, Inc.
At Daniels Insurance, Inc., we have a unique understanding of the risks that businesses like yours face on a regular basis. With the backing of our comprehensive coverages and our dedication to customer service and quick claims resolution, your business will be fully protected. For more information, contact us today at (855) 565-7616.