What Benefits Do Employees Really Want?
While there are many companies around with many benefits offered, employees are looking for more than just your standard and typical benefits. Your low involvement plan may not be what your current or future employees are looking for. If you want to grow your team, you may need to look into expanding your benefits.
Health Care, Eye Care, and Dental Care
Three of the most important benefits employees look for (and most employers offer to full-time employees) are health, eye, and dental care. While these are typically a common full-time benefit amongst employers, employees want to keep them around and do not want them waged against other benefits. Often, employees consider these benefits something that they are owed due to investing their lives in your company or organization.
Retirement (401k match)
Most employees place one thing above all else: retirement. Especially younger generations value their future. They want to be reassured that once they give you their time, you have invested in their future wealth as well. Retirement is a huge worry amongst employees. Everyone wants to retire and be set for the rest of their lives. This is why a 401k match or a program similar is very attractive and appreciated by current and prospective employees.
Flexibility is huge. Employees are now more than ever looking for a work/life balance and this includes being flexible so employees can tend to their life needs. Paid time off is the best way to make sure your employees are feeling valued by your organization. This can be distributed numerous ways but should include vacation days, sick days, and “You” days. “You” days are paid days off that employees can use when they simply just need a break, need to regroup, or just need to spend time in their own space. Although this is a newer concept, many employers are implementing it into their benefit model and their employees are very excited about it.
Another way we can create a huge sense of work/life balance is by giving generous maternity/paternity/adoption & foster paid leave. There is no better way to show your employees that you value their lives than by showing you value their family and their family relationships. At least 12 weeks for maternity leave and 4 weeks for paternity leave and adoption & foster leave are recommended to allow employees to spend crucial time with their families.
Last but certainly not least, to create an atmosphere of appreciation for your employees, compensation and raises are necessary. If an employee is contributing to the future success of your organization they should be rewarded for their new ideas and innovation. This also helps them to stay driven and work towards an monetary goal along with the goals set by the company.
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