A good work environment and adequate facilities make an excellent company. However, having top talent is a huge plus that could help safeguard your bottom line. Therefore, it is important to attract and retain top talent within your industry with employee benefits.
Apart from enhancing company culture and increasing productivity, employee benefits help attract and retain top talent – including foreign nationals. Although wages are still a huge consideration, other benefits seem more attractive to today’s workforce. Here is a comprehensive look at the top eight employee benefits to help you attract and retain top talent.
Flexible Healthcare Cover
Providing proper health insurance for your employees will help you attract top talent. The expensive medical bills in today’s healthcare institutions make insurance a top priority. Every employee wants to work for an employing company that prioritizes their healthcare needs.
However, it is vital to provide flexible health coverage for today’s employees. Some will prefer high-premium, lower-deductible plans while others want the bare minimum. Therefore, ensure you offer flexible healthcare coverage to adequately cater to your employees’ needs.
Option to Work From Home
Many prospective employees are considering working for companies that offer an option to work remotely. Top-talent employees aren’t looking to spend entire days sitting down at an office. Instead, they want the liberty to work from a park, home, or a coffee shop around the corner.
Working remotely gives your employees the peace of mind they need to become more productive. Working from home will help you retain current employees while attracting top talent. Therefore, you get to benefit from a low employee turnover rate.
Employee Benefits Include Opportunities for Career Growth and Development
Top-talent employees within your industry are always looking to grow their skill sets and enhance their careers. Therefore, you need to provide career advancement opportunities. For instance, have a career mentorship program or consider giving education stipends.
It will also help to integrate a coaching leadership style within your organization. Doing this will help you attract foreign nationals since they will be learning on the job. Equally, these employees will be looking forward to mentoring others in the future.
Compressed Workweek
Contrary to offering flexible working hours, a compressed workweek allows employees to finish their workload in less than five days. Therefore, your employees get Friday off because they work 10 hours a day instead of 8. Although the structure may differ from company to company, the idea is the same.
At first, having a long day may seem like a deterrent to productivity. However, Duke University Human Resources found that allowing employees an extra day every week lets them focus more on the task at hand. A four-day workweek allows your employees to have more rest and focus on other aspects of their lives – including family.
Gym Memberships
A healthy workforce is better for your business and employees. You need to keep this in mind every time you hire someone. People who maintain good health and exercise have lower rates of absenteeism and tend to live longer. Which means you get to retain top talent for longer.
If you have a large office complex, consider opening an on-site gym. Doing this allows employees to work out before work or during lunch breaks. It will also help to offer a stipend for local gym memberships if you have a remote workforce. Finally, you can always partner with a national gym brand to ensure your employees get discounted memberships.
Employee Benefits Include Student Loan Repayment Plans
Student loans are a massive inconvenience to recent and current graduates. Many employees in their 30s and 40s are still trying to clear their student loans. It can sometimes be very stressful, thus leading to lower productivity and high employee turnover.
Top-talent employees for hire in today’s market are usually college-educated workers. Therefore, you need to offer student loan retirement plans if you are looking to attract and retain top talent within this demographic. Doing this helps ease their financial burden while showcasing that you care for their well-being.
Group Life Insurance
Employees that get life insurance feel more secure because their families are well taken care of in the event of their death. According to a LIMRA survey, 6 out of 10 employees feel that life insurance benefit is both important and essential.
Group life insurance is a cost-efficient benefit that you can get for your employees. It is an inexpensive benefit that can help you attract and retain top talent. Most job-seekers will pick your company over your competition due to life insurance. Although most people wouldn’t purchase the insurance on their own, your business gives them peace of mind.
Access to the Best Technology
Advancement in technology has made most people dependent on gadgets such as laptops and smartphones. Everything is made simple and stress-free thanks to technology. Therefore, the workplace should not be any different. Top talent employees expect your company to provide a coordinated and gratifying workplace.
A healthy workplace should include adequate facilities with high-end technology. Therefore, your employees can have the tools they need to tackle different projects. Additionally, these tools give them the knowledge they need on how things work. It will help to ensure you stand out among your competitors with state-of-the-art facilities and advanced technology.
Employee Benefits Are Key
According to a Glassdoor survey, 79% of employees would choose new benefits over a pay rise. Therefore, you must offer the above eight benefits to help you attract and retain top talent. Luckily, BrightR Limited is here to help. We work with you to ensure you compete for top talent by offering competitive employee benefits at an affordable cost. Ensure you contact us today to learn how to hire employees, thus safeguarding your bottom line.
