Today’s competitive job market requires companies to set themselves apart by offering employees a variety of perks and benefits. Besides healthcare and retirement plans, additional employee benefits help companies attract and retain top talent. Employee benefits boost employee morale and cut turnover rates. Whether you have one employee or 1,000 staff members, every organization must offer these employee benefits. The more appealing your company appears to potential employees, the more likely you will have a steady stream of applicants for future openings.
Flexible Working Hours
A growing number of organizations allow employees to work from home or compressed workweeks. While these types of arrangements aren’t new, what’s changing is the number of companies that are embracing these changes to the typical work schedule. According to a survey by the American Psychological Association, work-life balance is the most desired benefit among millennials. And with today’s employees spending more hours at work than they ever have before, it’s clear that more employees want the ability to set their own schedule. Flexible working hours might not be appropriate for every type of business, but it’s an employee benefit that more companies should consider offering. It’s beneficial for parents and employees with medical conditions requiring them to work certain hours.
Free Food and Drink
Employee perks like free meals, snacks, or drinks can make your company’s break room more desirable. Besides the fact that it’s a great way to save money, it also helps boost employee morale. Employees who feel appreciated are more likely to stay with your company for a more extended period of time. The added benefit of having a break room is that it gives employees a place to relax and interact with one another. If you have a small office, a break room can be a great way to create a sense of community.
Increased Healthcare Coverage
Depending on your state, employers currently have to provide employees with a certain level of healthcare coverage. If your company doesn’t offer health insurance, this employee benefit might be crucial to helping you attract top talent. One of the easiest ways to improve your company’s health coverage is to hire a group health insurance broker. A broker will help you find your company and employees’ best health insurance plans. Depending on your company’s size, different types of health insurance plans might be best for your business.
Git Certificates for Special Occasions
Some employee benefits are small but have significant impacts on employee morale. One of the best employee benefits to offer is a gift on special occasions, such as an employee’s birthday, an anniversary with the company, or completing a degree. You can provide gift certificates for restaurants or stores, food gift cards for employees from G Thank You, or provide gift cards. Gift certificates are easy to obtain and won’t cost you much money. You can either purchase them online or find them at local retailers. According to the National Compensation Survey, employers are expected to spend $88.9 billion on employees this year. While the cost of hiring and retaining top talent is rising, companies can help cut costs by offering small gifts to employees.
While offering standard employee benefits is essential, it’s also vital to provide unique perks to your company. Employee benefits cost money: however, they can also save you money in the long run. Your company is more likely to retain valuable employees if they feel appreciated. Employee benefits are essential to attracting and retaining top talent. If your company doesn’t offer some of the benefits listed above, now is the time to start brainstorming creative ideas.
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