Revamping Your Benefits Package: What Employers Need to Know
Offering a competitive benefits package is essential to attracting and retaining the best talent. However, as the needs of employees change, so too must the benefits that employers offer. In this article, we take a look at some of the most important benefits that employers should add to their rosters in order to stay competitive.
Flexible Work Hours
In today's rapidly-changing world, more and more employees are seeking flexible work arrangements. Whether it's the ability to work from home one or two days per week or simply having more flexible start and end times, offering employees a degree of flexibility can go a long way in terms of attracting and recruiting employees.
With an increasingly competitive marketplace, employers must provide opportunities for employees to grow and develop. You can do this by offering tuition reimbursement for job-related courses and programs. Not only does this help employees stay up-to-date on the latest trends and developments in their field, but it also shows that you're committed to their professional development.
A healthy workforce is a productive workforce. That's why wellness programs are becoming increasingly popular among employers. Wellness programs can include everything from onsite gyms and fitness classes to healthy food options in the cafeteria and discounts on health insurance premiums.
Time Off for Volunteering
More companies are offering paid time off for employees who volunteer. This is a great way to encourage employees to get involved in their community and give back. It also provides an opportunity for employees to learn new skills and build their resumes. And, of course, it's a great way to show your employees that you care about more than just their work.
Cover Gym Memberships
As people become more focused on their health and well-being, paid gym memberships have become a popular employee benefit. Not only do they provide employees with access to quality fitness facilities, but they also offer substantial discounts on monthly dues. In addition, many gyms offer childcare services, making it easier for working parents to get in a workout. Paid gym memberships are also a great way to encourage employees to be active and stay healthy, which can lead to lower healthcare costs (and fewer sick days) down the road.
Mental Health Coverage
Mental health is just as important as physical health, something that is often overlooked in the workplace. When you provide mental health services, you show your employees that you care about their overall well-being, not just their productivity at work.
Make Your Benefits Information Readily-Available
Help ensure there is no confusion as to the benefits you offer by creating a PDF document outlining all of your company’s perks. You can email it out to your staff quarterly as well as post it on your employee portal as a reminder of what’s available (and as a way to boost morale). Check this out when you need to update your benefits PDF — there are a variety of tools that allow you to make changes to your doc so the info is always current, including to the text, number of pages, and images. Don’t forget to list the details of any exclusions associated with each benefit, like a required term of employment before an employee is able to take advantage.
Seek Staff Input
When they understand what employees value most, employers can make sure that their benefits packages are offering the most bang for their buck. What's more, by proactively seeking out feedback, employers can show their employees that they care about their well-being and are committed to making improvements. In today's competitive job market, an employer who is willing to listen to and act on employee feedback is sure to stand out from the crowd.
Refresh Your Benefits Package
Offering a competitive benefits package is essential to bringing in quality job candidates. However, as the needs of employees change, so too must the benefits that employers offer. From flexible work hours and tuition reimbursement to wellness programs and mental health services, revamping the benefits you provide will show employees and job candidates how much they're valued and benefit your business overall.
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