Sure, these perks are fun, but it's unrealistic for the typical small business to be able to compete with the lavish extras offered by the likes of Google and Facebook. Instead, why not focus on creating great managers, establishing a positive corporate culture, and offering employee benefits that solve real-life problems?
In order to attract talent and keep them happy in a competitive job market, you're going to need to offer health, dental, and vision insurance at a minimum. Many employers are choosing to strengthen their benefits package by offering supplemental health plan solutions such as cancer insurance and disability insurance.
Today's employees want a well-rounded employee benefits package, and this means offering some additional perks that extend beyond the traditional insurance plans. Here are some of the "extra" employee benefits that your team really wants:
The majority of today's employees need guidance regarding when and how to plan for retirement. Unfortunately these same employees may also struggle with current day finances which further impedes their ability to plan for their future. Giving employees access to a Financial Wellness program that meets their immediate budgeting needs, helps them solve current day financial problems, and also provides resources for long term planning is a powerful way for employers to differentiate themselves.
Employee discount programs
By establishing relationships with local and national merchants, you can give your employees access to discounts on anything from gym memberships, to cell phones & electronics, to automotive services, vacation packages, and more. Establishing an employee discount program rewards your workforce with something tangible that they can use immediately and as often as they see fit. In doing so, most vendors also offer some additional perks like promotional items which can then be used to increase employee engagement and reinforce corporate values, such as Work Life Balance; an important asset which employers use to recruit and retain talent.
With a 401K matching plan, the employer will match a certain percentage of money that the employees deposit into a retirement fund. More employers are adopting a program like this because in addition to the goodwill the employer earns by offering a 401K matching program, they also benefit from getting a tax deduction for contributions being made.
Healthy LifeStyle Resources
Today's society is heavily focused on self-improvement. Employers can capitalize on this by offering corporate wellness programs that motivate employees to improve their lifestyle choices and overall health. Examples of a few wellness resources that employees see great value in are onsite fitness centers, smoking cessation programs, and paramedical services. Providing resources that will encourage your employees become the best versions of themselves, improves morale, productivity, and workplace satisfaction.
Many of these employee benefits are affordable or have little cost to your organization. By focusing on delivering tangible value and addressing the challenges your employees face on a daily basis, you'll attract and retain a base of employees that will align their focus with delivering returns to your company.
Please contact us at Summerlin-Roberts for more ways to offer a benefits package that will appeal to your employees.