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Do you want the “dream company” label? Here's a list of impressive employee benefits that improve employee retention and attract superstar candidates.
It’s hard to attract top talent and it’s even harder to retain it. As a business owner or an HR professional, you already know that. In fact, these are your biggest pains: not attracting the quality candidates you hoped for and good employees jumping ship. And identifying the root of the problem might require entire months of analysis and review until figured out. Meanwhile, employees will keep leaving and quality candidates will keep avoiding you. But don’t give up hope. Luckily, there is a solution guaranteed to help you mend matters: employee benefits.
If you are a well-reputed company, you are already implementing these common employee benefits. If not, you should. You can’t talk about “wow” if you don’t talk basic first. Health plan, sick leave, paid vacation leave and more – in some countries, you are not even required by law to offer your employees these benefits. But they are a must. Especially for a big or medium company. If you want to keep good employees around and even attract new ones just as good, common employee benefits is where you should start first.
Benefits like health insurance or overtime pay have all become the norm. If you want to have a real competitive advantage, think bigger. Draw inspiration from the best of the best – like Facebook, Tesla or Google – that change the world not only because they are disruptive but also because they have superstars working for them. Your goal is to make everyone wish they worked for you. Don’t settle for less. You won’t achieve greatness if you are only willing to offer crumbs. Do you want the “dream company” label? Here are the benefits that will get you there:
Employees are like the roots of the giant tree that is your company. If you want your tree to bear fruits, you water the roots more than the crown. If the roots are strong, so will your tree. Id est, as long as they work for you, your employees’ self-development is your responsibility. Supporting them and their lifelong learning process is a necessary ongoing investment. And if the financial benefits were more for the employee, the self-development benefits are for the good of both of you. We’re talking certifications, courses, e-learning solutions like language learning apps and more – basically anything that could help them improve the quality of their work.
Help your employees grow and they will help the company grow. It’s that simple.
Give them that little “extra” every once in a while. It’s psychologically appealing. It’s more so it’s better.
Self-development and financial benefits are undoubtedly the best and most important benefits in today’s world. If you implement these, you WILL see a change in employee retention and talent attraction. But more than that, if you want to create a different company culture, one that’s friendly and fun, you should also add benefits like free lunch, pet-friendly office, flexible working hours & work from home, on-site gym and showers, transportation benefits and even on-site daycare. Some bigger companies do it, but it’s up to you and the goals you’ve set for the company.
It’s simple! If you want to attract better people and improve retention, study the market and raise the bar in company benefits. A survey conducted by Glassdoor, one of the world’s largest job and recruiting sites, reveals that for around 57% of people benefits and perks are among their top considerations before accepting a job. So choose wisely and choose benefits that employees will value. Tell them what their benefits cost and what’s the thinking behind you choosing that specific sets of benefits. For example, if your company produces sports equipment, include a gym on-site and tell your prospective candidates why do you think it’s important for everyone in your company to practice sports.
Excited to take the first step to attracting quality candidates and improving retention?
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