With your business up and running and starting to see some success, you might be wondering if now is the time to bring in the best and the brightest to keep that momentum going. But how do you go about this? Well, the answer lies in a winning combination of competitive salary, a fantastic work environment and, of course, irresistible employee benefits.
When people are considering a job, they want to know that they will be paid well. However, it’s not just about the salary for many employees. Individuals are also looking for other advantages and benefits that can make a company stand out. These can include things like flexible hours, support for maintaining a healthy work-life balance, and benefits that promote overall wellbeing. This is where offering an attractive employee benefits package comes in.
What kinds of benefits should you consider offering to attract top talent? Here are some suggestions to get you started:
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No one wants to worry about unexpected medical expenses, so offering comprehensive health insurance can be a huge draw for potential employees. In fact, a study by Harvard Business Review back in 2017 showed that 88% of employees consider health insurance one of the most important benefits when choosing a job.
Helping employees save for their future is not only a responsible thing to do but also a terrific way to attract talent. Offering a solid retirement plan, such as a 401(k) with company match, can be a deciding factor for potential hires.
Flexible Work Arrangements
In the age of remote work, flexible work arrangements can be a significant advantage. Employees are looking for options to work from home, have flexible hours, or even job-sharing opportunities. Providing these options shows you value work-life balance, and it can help attract top talent.
The best employees are always looking to grow and develop their skills. Offering opportunities for professional development such as tuition reimbursement, conference attendance, or in-house training can be an attractive perk for potential hires.
Paid Time Off
Generous paid time off policies show that you value your employees’ need for rest and relaxation. Offering plenty of vacation days, personal days, and even parental leave can help attract top talent to your company.
Implementing Employee Benefits
Now that you know what kinds of employee benefits you can provide, let’s see how to put them into action. One of the most efficient ways to do this is by outsourcing employee benefits. According to those at VertiSource HR, working with a professional benefits administration company means you can tap into their expertise and resources to create a benefits package that truly makes your company stand out.
Outsourcing employee benefits has several advantages, including:
When you work with a benefits administration company, you can often save on the costs associated with managing benefits in-house. These companies can negotiate better rates with insurance providers and other vendors, ultimately saving you money.
Benefits administration companies are well-versed in the complexities of benefits compliance, ensuring that your company stays within the legal bounds of employee benefits regulations.
Outsourcing benefits administration frees up the HR team to focus on other essential tasks, like recruiting top talent and fostering a positive company culture.
Benefits administration companies often provide dedicated support for employees, helping them navigate their benefits and make the most of the perks you offer.
Attracting top talent to your company is about more than just offering a competitive salary. When you provide a comprehensive employee benefits package, you can set your company apart and show potential hires that you truly value their wellbeing.