Company benefits are a major part of attracting talent in today’s fast-paced, competitive workforce. Businesses, especially small businesses that are at a disadvantage from the start, need to be able to compete with large-scale organizations.
The workplace is competitive, and younger workers aren’t afraid to switch jobs often.
But offering the right mix of benefits as a small business can mean the difference between success during the hiring process and talent going to competitors.
The benefits that are attracting talent are:
1. Financial Counseling
Workers are worried about their finances, and while many businesses offer retirement benefits, this does little to ease the concerns of workers. Businesses are beginning to offer financial counseling to their employees as a way to alleviate these financial fears.
Studies show that 44% of employees worry about finances.
Businesses are doing one of two things to offer financial counseling:
- Paying for employees to go see a counselor
- Hiring an in-house financial counselor
When businesses show that they care for the financial futures of their employees, they boost company morale and attract top-tier talent.
2. Employee Discounts
A lot of companies have started to partner with other businesses, both local and national, in an effort to offer discounted goods. This is important because the employee discounts allow employees to receive promotions at:
- Theme parks
Companies may also give out passes to theme parks and other local events. This is a great way to drum up business for local businesses, and it’s also a great perk that employees have at their fingertips.
3. Health and Wellness Benefits
Benefits in the health and wellness industry are very popular among employers and their workforces. These benefits are a great way to show your workers that you care for their well-being.
And the benefits can be extensive, too.
Some companies are:
- Building gyms in their facilities
- Paying for gym memberships
- Offering massage sessions monthly
- Offering to pay for alternative health options
“These days, a more holistic approach to health and wellbeing is on the rise. Complementary and alternative medicine is growing increasingly popular, with methods like herbal treatment, Reiki energy therapy, and acupuncture reaching a growing audience. Patients want to manage their health with the big picture in mind, rather than simply addressing symptoms,” states Vogelzang Law.
4. Flexible Work Environments
Telecommuting is becoming popular among workers. Sure, there are some workers that prefer to go into the office to get work done, but there are also workers that prefer to have the freedom to work from home.
This can be a set amount of days per year, or it can be a few days a week, depending on the business.
Flexible work environments are also popular. These environments allow workers to change their hours as needed, so a person may be able to work from 9-to-5, or the person can choose to come in early on Friday to go see their child play in a soccer game on Friday night
A flexible work environment boosts productivity in the workplace and creates a dedicated workforce in the process.