Offering top-notch benefits to your employees is a smart, efficient, and cost-effective way to grow your business. Today’s workforce expects their employers to offer a variety of perks and benefits beyond basic health insurance. Many workers would consider leaving their current jobs for better benefits or turning down offers from organizations that don’t provide the benefits they’re looking for. In order to build your team and sustain it, consider offering a better benefits packages.
Benefits Outweigh Salary
It’s a fact of today’s employment market: robust benefits offerings are playing a bigger role in employee recruitment and retention than salary. A recent Aflac Workforce report found that 60% of employees would take a job with lower pay but better benefits. However, this doesn’t discount the value of a competitive salary—the right benefits combined with a good salary will do wonders for attracting and retaining top talent.
Increased Engagement
People want to feel like they’re part of an organization that is driven by a purpose or mission. Offering better benefits will show your employees your appreciation and how committed you are to them. Build your workplace around employee feedback regarding perks and benefits—including which ones they find the most valuable and which types they’d like to see more of—to keep your employees happy and engaged.
Healthy Workers are Productive Workers
Your employees’ health matters. Health-related financial issues can cause severe workplace stress and impact workers’ physical health. Not to mention, not offering sufficient health benefits can also directly impact your employees’ health as well. That being said, unhealthy employees miss work more often, are less productive, and can decrease the overall efficiency of your office.
You can ensure that your employees are happy and healthy by offering strategic benefits, including:
- Wellness seminars
- Gym reimbursement programs
- Health incentives
- Coverage for mental health services
- Smoking cessation programs
These programs not only prevent loss of productivity due to illness, they show your employees that their well-being is truly valued.
Workers Value Options
One-size-fits-all benefits are no longer suitable for today’s workforce. With so much diversity in age, family status, and health and financial requirements, it’s important to offer a variety of benefits options. Build in the option for your employees to customize specific elements of their packages—they’ll appreciate having more control over their benefits.
Treating your employees well, valuing their physical and mental health, and considering their variety of needs are all great ways to build a devoted, productive, and effective workforce. High-quality benefits attract high-quality workers and give current employees more incentive to work hard and stay at your company for years to come.
For help streamlining your employee benefits administration processes, empower your employees to make good benefits-related decisions, and gain some peace of mind, visit the Clarity Benefit Solutions website today.
Sources:
https://justworks.com/blog/when-should-your-small-company-offer-employee-benefits
