Your employee benefits plan is more than benefits to help your employees. They are are also recruiting tools, retention tools, and a significant bridge between all levels or your company.
For this reason alone, you shouldn't take your benefits package lightly. It can mean the difference between an engaged, stable workforce, or a workforce that has to be re-staffed continuously or plagued with morale problems.
According To This Study, Many Employees Value Employee Benefits Over Pay
There are the employee benefits you must offer to your staff and potential hires because of legislation. However, don't stop at the bare minimum, there are other benefits you can offer that make your firm more attractive.
A 2015 Glassdoor survey showed the benefits employees value the most. In no particular order they are:
If the flexible work hours or vacation times seem odd to you, then consider the survey said 80% of the 2000 respondents said flexible work hours would be a deciding factor in taking a job. What this is saying is people are interested in spending time with their families.
One important thing to remember about your employee benefit plan is it's not just providing benefits for your employees; it is covering their families as well. This goes a long way towards keeping your employee's lives stress-free and focused on their tasks when they are at work.
Often, Highly Desirable Employee Benefits Cost You Very Little
According to the survey, parents like flexible working hours and the ability to work from home, could you reasonably accommodate that? If you could, it would be a big boost to your benefits package, and it would help with morale and employee engagement. Furthermore, those are two relatively inexpensive benefits.
The point is you can make a benefits plan without having to overextend your resources. All it takes is an understanding of what your staff values.
The question is how do you choose the right benefits for your employees? Which ones would your staff value the most? A simple survey of your employees will tell you what they want.
Culture Insurance works with companies to help them craft affordable and effective employee benefits plans. Our experience has shown us that every company is unique and benefits from a personalized plan.
We invite you to sit down with us and tell us what you would like to get out of your employee benefits plan. Let's get to work on a benefits plan that you will be proud to offer your employees.