Today's Candidates Want More Than a Paycheck
Top talent in every industry at every level want to work for companies that offer robust benefits packages and provide strong work-life balance.
What Does It Take to Jump Ship?
A great package can help attract the best and brightest, even if you can't compete on salary. So, just what types of benefits are truly switch-worthy?
Just How Important ARE Benefits?
- 60% of workers weigh benefits and perks heavily when deciding whether to accept a job offer.
- 52% of workers who are unsatisfied with their benefits want more of a benefit they already have.
- 32% of employees say they feel neutral about, or are not satisfied with, the benefits they receive.
- 14% of employees want different benefits altogether.
The Most Sought-After Benefit
Work-life balance has rapidly become the most sought-after benefit for the American worker, and 65% of workers would take a pay cut to achieve better balance in their lives.
How Can You Offer Better Balance?
Flexibility is the key to work-life balance. Flexible scheduling, telecommuting opportunities and generous PTO packages have a direct impact on employees' work-life balance.
Paid Time Off
48% of workers prioritize PTO when evaluating a job offer. The more, the better. In fact, many companies are making the switch to unlimited PTO in order to attract and retain great employees.
Health Insurance
The ACA dictates that employers of a certain size must offer health insurance coverage, but the minimum isn't always enough. 61% of workers prioritize the quality of a health plan when considering new job options.
Insurance Coverage (Beyond Healthcare)
48% of workers also want to see dental and vision insurance included in a benefits package -- this is especially important to people who are raising families.
Retirement Plans
50% of workers prioritize employer-sponsored retirement plans when weighing job offers. 42% of businesses report that recruiting improved when they improved the strength of their retirement plan.
Student Loan Repayment Assistance
Want to attract millennial and Gen Y talent? Student loan contributions of just $50 or $100 a month can go a long way, since three-quarters of borrowers make monthly payments of $300 or less.
Career Development
Talented people want a path to success. 67% of younger workers say they would leave their current job to pursue opportunities for growth and leadership development.
Money Still Talks
Benefits are a high priority, but money is still important. 43% of workers say they'd leave their job for more money and 67% of employed job seekers say they are actively pursuing a higher salary.
What Types of Benefits Should You Be Offering?
Every candidate will have unique priorities when weighing job offers and it can be difficult to know how to put together a package that will attract the types of candidates you're looking for.
Partner With an Expert
If you are ready to boost your benefits package, talk to a recruiting expert in your market. They will help you prioritize the benefits sure to attract (and retain) top talent.
Sources:
https://www.benefitnews.com/slideshow/11-benefits-workers-want
https://tinyurl.com/ybt4fzlv
https://blog.accessperks.com/2018-employee-benefits-perks-statistics
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