Attracting stellar new hires has a lot to do with what value they have to offer to your firm. However, you won’t succeed in landing them unless your company brings value to the table as well. Providing excellent perks and benefits for employees is one way you can get the attention of the best-of-the-best. This is because it shows them that you are not only willing to invest in them as your employee but also invest in their long-term career. These four perks will attract the best industry talent and help you retain your most prized employees.
Insurance and Wellness Programs
Offering health and dental insurance is the base of an attractive benefits package. Because coverage is fairly expensive to purchase in the private market, having an employer’s discount or even a fully paid-for insurance plan is extremely valuable. It also lets your employees know that you want to invest in maintaining their health.
Another health perk that can be offered is workplace wellness programs. These programs debuted around 2010 and, at first, focused on getting people in the office to improve their health. For instance, some businesses provided help for employees to stop smoking. Others decided to offer employees discounted or free gym memberships to promote healthier lifestyles.
Lastly, a retirement plan or 401K with a safe harbor match and/or profit-sharing. Receiving a paycheck pays the monthly bills, however, 401K’s provide long term financial security.
The Option to Work Remote
Many employees are also intrigued by the option to work from home or remotely. This doesn’t necessarily mean they work from home full-time, but they have the option to work from home a few days a week or month. With Coronavirus forcing people to work out of their home and advances in technology, most companies can offer this benefit at little-to-no cost.
If your company doesn’t have the ability to offer remote work, consider offering flexible or alternative schedules. For instance, some companies have optional half days or even the ability for employees to choose their own schedules, like 10 hours four days per week. Or, if you come in at 7 a.m. you can leave at 3 p.m. For individuals who want to get off early and take care of errands or have children to tend to, this can be an extremely attractive perk.
Goal-oriented candidates are searching for positions that will allow them to continue to grow their careers, especially millennials. Offering professional development opportunities, like classes, webinars, educational conferences, and tuition reimbursement can be great incentives. It also makes your employees feel like you are willing to invest in their futures (you care). Companies that have implemented these types of career development incentives have seen significant increases in employee retention.
Maternity leave is offered by many companies and, more recently, paternity care has been added as well. Having time off after introducing a new baby into the world without having to worry about risking their job can mean the world to new parents. Of course, new mothers need some time off to tend to their newborn(s), however offering the father some time off can be a perk that really sells a candidate on a position, especially if they plan to grow a family. Deciding to join or stay with an employer is most always a joint husband/wife decision. Other family members can be influencers. Maternity/paternity benefits can play large in their join or stay decision.
For your employees and candidates that already have children, offering daycare services may also be a desirable perk for new hires. The cost of childcare can be astronomical, so not having to worry about paying for it can be an attractive perk for newcomers. In fact, anything that saves them time or money can be.
When an employee chooses a company to work for there are several factors they consider, including the company brand and business culture as well as key perks that come with the position. Contact us to learn more about other ways you can court the best talent in your industry.
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WorldBridge Partners is an Executive Search Firm that assists companies worldwide in locating and hiring top echelon industry leaders.
We have twelve US locations, an operation in Belgium and over 100 Recruiters providing our clients and candidates with global access to talent.