In a recent study, 2000 employees were asked to choose between a high-paying job or lower-paying job with more benefits. Out of the 17 benefits listed, the top four chosen by employees are:
1. Better health, dental, and vision insurance. Health benefits were the top benefit for 88% of respondents. 54% gave health benefits “heavy consideration” when selecting a job, whereas 34 percent gave it “some consideration”.
2. Flexible hours, work-from-home options and unlimited vacation. Respondents said they valued benefits that provided them with a “work-life balance”.
3. Student loan and Tuition Assistance. When employers offer these benefits, employees feel valued.
4. Paid Parental Leave and Free Daycare. A number of states have started paid leave programs. Typically, employers and workers will make small contributions to a fund. When the employees are ready to take maternity and paternity leave, they can draw from the fund.
Benefits and perks continue to play a major role in employment consideration. A well-designed employee benefits and perks package will restore loyalty, drive employee engagement and increase your employee retention.
Benefits and Perks Help Employees Feel Appreciated
In another employee survey, over 40% of full-time U.S. employees consider flexible hours their most important perk and the perk that matters most to their job satisfaction. Furthermore, employees valued perks such as professional development, fitness/health perks, food snacks and the ability to work from home.
When asked why employees valued free food on the job, they gave three reasons. They believed the free food was a reflection of the company’s generosity. They saw the food as an indication that the company cared about their health and well-being. And finally, by having food available, they were encouraged to take more breaks.
Also, when deciding between a high-paying job and a lower-paying job with more benefits, 10 percent of those surveyed said they would give free snacks “heavy consideration.” Having food at work was most important to millennials. Of all the age groups, they are the most likely to say they wish their employer offered more snack options. Snacks may even lure employees to new companies: 48% of respondents said that if they were looking for a new job, they would weigh company perks, including the availability of snacks, in their decision. Other perks that attracted new employees including offering a gym membership, parking, and casual Fridays.
Adding Value
In today’s hiring market, it is becoming more difficult to recruit great employees. By providing great benefit packages and perks, your company can retain and attract employees. When companies create a benefits package, the result is that their employees feel valued. This becomes a great tool to attract new recruits. Over half of the employees who received employer-sponsored perks said that they had a better quality of life. A happy employee is a more productive employee, so benefits provide a win-win scenario for everyone.
What is especially relevant is that word of mouth spreads when employees feel great about where they work. When you are ready to add to your team, consider partnering with Strategic Recruitment Solutions. We work with many of the law firms and technology companies in the Gulf Coast region and have a deep understanding of what type of benefits and perks are attractive to new employees. Give us a call today at, 888-366-6508. We can help you recruit and retain employees now and in the future.