When it comes to considering a job offer, for many employees, a main concern is what the benefits package looks like. If you want your company to stay competitive, you’ll need to offer current and future employees incentives that makes them want to stay with the company. Even if you think your benefits package is pretty good, it never hurts to reevaluate it and see if there’s any way it can be improved. Here are some tips to evaluate your current benefits package and make it even better.
One of the biggest considerations for employees when looking at benefits is usually healthcare. Are you offering your employees the best deal you can? If it’s been a while since the company’s health insurance options were evaluated and updated, it’s probably time to do so again, especially considering how often legislation changes what’s possible and the various options. Once you’ve evaluated and improved the healthcare options, create a presentation to explain some of the specifics to employees and make sure they know the basic facts of the plans.
Over time, employees want different kinds of benefits. Companies that offer significant maternity and paternity leave are often considered worthwhile to work for, especially if the employees are currently considering having children. Other employees value being able to work from home once a week or have flexible hours. Take into account current employee needs and wants and see what you can do to meet them.
If your company is smaller and has limited funds, you can make up for what you can’t always offer in salary by providing unique benefits. Consider if you can offer your employees gift cards or rewards for meeting some set of goals or participating in something like an office-wide fitness program. Consider planning interesting activities that give employees a chance to unwind and relax. Offering continuing education classes or paying for some classes is another great bonus to add to the benefits package.
Employees enjoy having adequate vacation time and this area is one where a lot of companies skimp. Smaller companies often make up for lower salaries by offering an extra week or two of vacation time. While it might seem counter-intuitive, giving employees plenty of time to take off helps relieve stress and can make them more productive in the office.
Overall, take a look at how your company has improved since you last updated your benefits package. If you can afford to take on more costs and enhance the benefits, it’s definitely something worth considering since it can greatly increase employee satisfaction.