by _comunica2punto0

#marketing The Benefits Disconnect: What Your Employees Really Want

In Marketing on 18 julio, 2017 at 2:05

Free-Photos / Pixabay

People love benefits. In many cases, they love them even more than pay increases. A Glassdoor survey in 2015 revealed that 79% of those surveyed would rather gain additional benefits than get a raise. Of course, that depends on what those benefits are. Making your company THE destination for top talent can seem like an unsolvable riddle. What kind of perks can you offer to ensure you attract and retain top talent? Is it unlimited organic snacks? A game room with cushy chairs? 401(k) matching? Of course, benefits will vary based on company culture and budget, but there’s often a disconnect between what people really want—and what a company thinks they want.

The Basics

In general, before you even get started offering your employees benefits, you should first consider the type of employees that you’re looking to hire. For example, former Apple CEO Steve Jobs knew that his high standards were not for everyone, and as a result was diligent about seeking only the best talent, no matter whether that was in customer service or executive management. Yet, it is also important to mention that there is nothing wrong with lowering standards. This is especially true for start-ups with little funding. The key is to have an honest understanding of where your business currently is and where you want it to be.

Once you have established the kind of employees that you’re looking to hire, then it’s a good idea to focus on the basic offerings. Health, dental, and vision insurance, retirement options, and equity in the company (especially for startups) should be the first benefits you offer, regardless of your organization or industry. Yes, these are big ticket items, but they’re going to be high priority for most employees, particularly since the health insurance market is currently somewhat volatile, and often very expensive for individuals.

Other important factors for many employees are vacation time and flexible work arrangements. Organizations are beginning to see that adequate rest and relaxation is not only valued by employees, it also helps improve productivity and morale. Many vacation and flexible scheduling options are low or no cost for employers, but can be very valuable to employees. Work-from-home options are becoming more popular as employees seek better work-life balance and employers are beginning to see that being at home is often just as productive as being in the office. Even unlimited vacation can save some organizations money, as they do not have to pay out for unused vacation time.

Frills are Nice…but No Substitute

If you’re tempted to skimp on the basics and rely on frills to keep your employees happy, you may not be happy with the outcome. Many startups these days like to keep the beer and snacks flowing, but that’s no substitute for competitive salaries, good health plans, parental leave, and retirement perks. While many people believe that Millennials are more interested in the fun and flashy perks, studies have shown that this is simply not true. While it’s true that Millennials often have different priorities than their parents, the basics are still the most important to them. In fact, 34% of Millennials surveyed by Fit Small Business indicated that health insurance was the most important benefit to them when looking for a job. Major bonus points if an employer offers an on-site health clinic offering quality patient care—a rare but powerful incentive for finding top talent. Employees who are in good health are more productive and take fewer sick days, which is a strong incentive for businesses to prioritize health and wellness programs.

Not All Companies Can Be Google

Google is famous for its lavish perks—catered lunches, spas, yoga classes, and more. Of course, most companies don’t have the budget for even a quarter of what the tech giant offers, and that’s okay. Again, it’s all about picking and choosing what works best for you and your team. Many people are happy as long as they have access to health insurance, time off, and maybe a gym membership. Mixing high-cost programs with cheaper options gives your employees a good mix of benefits without putting your budget in the hold.

Communication

If you want to know what your employees really want from their benefits package, just ask them! Find out what your company is able to spend on benefits, then take some possibilities to the people. Do a poll or survey, and price out several different options your team can choose from. Depending on the age range and culture of your organization, you might get different answers—offices with younger workers might like to give unlimited vacation a whirl, while people in their 30s might be more interested in parental leave. There’s really no reason to make assumptions about what your employees want—just ask! The right benefits can result in a healthier, happier workforce—and that’s good news for everyone.

via Business Articles | Business 2 Community http://ift.tt/2vbKl5s

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