When you initially advertise a vacancy, would you be proud to mention your employee benefits? Would you even mention them at all? If the answer is no, then you need to read this…
You’ve done all that hard work by attracting candidates to your role, taken time out to read CV’s and conduct interviews, but then your first choice turns down your job offer. Could this be purely down to your employee benefits.
Worse still, you manage to secure a superstar and they become a key member of your team, but another company poaches them. They don’t offer as much salary, but their benefits are amazing! You lose your superstar and have to start the recruitment process all over again.
Over 34% Say Employee Benefits Are Most Important
According to a recent report by Glassdoor – UK’s Top Quirky Employee Perks And Benefits 2017 – over 1/3 reported that perks were the most important consideration before accepting a job. Some would even accept a lower salary if there was a strong benefits package on the table.
Moving outside of the traditional core benefits of pension, life insurance and holidays, the best companies to work for are offering a wealth of options to suit all. If you look at the report, you will see that this ranges from an office sauna and paid puppy leave to secret holidays and weekly yoga sessions.
Whilst you may not be in a position to compete with the benefit in the report, it highlights the importance of being creative and listening to what your team wants, no matter how ‘quirky’ their ideas may seem.
However, it’s also important to remember that it’s still the core benefits that have the highest correlation with employee satisfaction, so they need to be there in the first instance to support the more flexible, pick and choose benefits that you can really have some fun with.
We all know that motivating your employees is of key importance to not only have a happy, committed workforce, which results in an amazing working environment, but a motivated and engaged team can increase productivity. It really is a win-win.
Today’s workforce is the most diverse we’ve seen, so tailoring a benefits structure to suit everyone can be very challenging. Something of interest to a Baby Boomer may not appeal to a Millennial and visa-versa. Introducing benefits that don’t appeal to people can waste valuable budget and can even have a detrimental effect on employee motivation, so it’s important to get it right.
Whilst you benefits package should be creative, it should also reflect your culture and values – another key part of building your employee brand. You’ve probably seen the picture across social media with dogs in the office and ping pong tables, but if your company is somewhere that clients visit, or is highly corporate, this may not be ideal for you.
People like to feel consulted and conducting an employee survey to give you an idea of what they want is the ideal start.
Empowering employees to give them the flexibility and power to have an input into what benefits you choose to offer really can help ensure your employee benefits strategy is balanced and relevant.
Different benefits appeal to different groups at different times so enabling employees to pick and choose those that are most relevant is the most effective plan rather than a one size fits all approach.
It’s also important to remember that the benefits that suit someone today, may not suit in 12 months’ time. Maybe someone has recently started a family (childcare vouchers), is getting married (additional annual leave) or approaching 65 (enhanced retirement planning), enabling your employees to change their benefits as their priorities change will help ensure you are always on track.
Employee benefits don’t just benefit your employees
Having a strong employee benefits strategy will not only help you attract candidates with the right skills, but will also help with people and culture fit too. Including your benefits on the job adverts and on your careers page showcases your culture and values and will help attract those that feel a synergy with this.
Employers like benefits, but more importantly, they like the right benefits. And it doesn’t have to cost – casual dress, flexible working, wellness facilities, general discounts, monthly cook outs, games room – they can all be applied for little or no outlay. It’s obviously important to remember that there are many benefit options on salary sacrifice too, giving you the ability to compete with the larger companies.
Employee Benefits are only as good as your ability to communicate and promote them. Once you’ve done the hard work in creating your superb benefits package, you need to shout it from the rooftops. What better reason to get the company together to show your employees how important they are to you, that you have listened to them and are improving their benefits option.
Make sure you let everyone know about the exciting things on offer and look forward to a happy and engaged workforce.
JobHoller enables you to promote your benefits and culture through our employer branding initiatives and get the right candidates applying to your roles. We give you the expertise and tools to ATTRACT, ENGAGE & RETAIN the very best candidates for your business.