Your people are the essential element of your organization’s ability to grow and thrive. Therefore, hiring the right talent is crucial to achieving your company’s goals. And the most effective way to attract and retain is through a comprehensive employee benefits program.
Don’t believe us? According to a recent Glassdoor survey, four in five workers today would prefer new benefits or perks rather than a pay raise. Gone are the days when salaries were the sole focus of a job seeker. Informed candidates know what they are worth, they have researched your company, they know what to expect and they want benefits.
Glassdoor’s chief economist Dr. Andrew Chamberlain evaluated Glassdoor’s global Benefits Reviews database to dig into which specific benefits matter most to employees. Simply put, core benefits like health insurance, vacation and paid time off, plus 401(k) plans matter most.
However, when it comes to hiring, your organization must showcase those core benefits plus additional perks or fringe benefits as well. These can include: Maternity/paternity leave, a Dependence Care Flexible Spending Account (DCFCA), free lunch, tuition assistance and discounts.
Since 58% of employees say they are at least somewhat likely to take a job with slightly lower pay but a more robust benefits package, it only makes sense that companies should have the opportunity to highlight what makes their benefits packages attractive and unique.
So how do you get started? It’s important to think broadly about your benefits packages fright from the start. Look at what your company offers then compare the offerings with those of the competition.
An audit of the receivers of your current benefits offerings using Glassdoor is a great first step. Glassdoor has nearly 38 million reviews and insights for more than 740,000 companies,* including benefits reviews. Look at the benefits reviews on your profile to see which ones employees love, which need improvement and which they wish your company offered.
And don’t worry, we can take you through the entire process (not just get you started). Hiring can be easier when you offer great benefits!
Download the Competitive Benefits Kit, along with a benefits checklist and battle card, to help you explore, evaluate and evangelize your benefit offerings.