It’s true to say that many (if not all) employees place as much importance on their benefit packages, as they do on their salaries, and to ignore this would be detrimental to any business.
Of course, not all employee benefits may be equal and some are valued more highly than others, but finding out what the most valued benefits are among workforces, could help you to come up with a package that keeps your employees happy and attracts the best in new talent when a job opening comes up.
Here are 5 of the most highly valued and important employee benefits:
1. Health Insurance
While the future of employee health benefits in America is currently unknown, it still ranks highly as one of the most desired benefits that an employee can receive. There are many different plans available, and research has shown that even small businesses are offering health insurance packages to their staff, and with the rising costs of health care, this benefit is set to remain popular and in demand.
2. Life Insurance
Life insurance policies give employees the peace of mind of knowing that their nearest and dearest will be taken care of when they’re gone, and most employee benefit packages offer life insurance in some form or another.
3. Paid Leave
The most common type of benefit available to employees today, is that of paid leave, and it can include vacation leave, days off due to sickness and/or injury, or holiday pay. It may not be considered quite as important as some of the other types of benefits offered to employees, but many consider it to be something that they should be awarded, particularly if their employer values them.
4. Tele Commuting
In recent surveys, many of those polled expressed the desire to work from their home computer, as being one of the most sought after and highly valued employee benefits. It isn’t hard to see why either, as working from home can offer tax breaks and save money on transport and other costs. As a direct result of this, many companies are now including telecommuting options in their employee benefit packages.
5. Retirement Plans
No matter who you work for, you ultimately want to know that your future is safe and secure, and with an attractive retirement plan, employers are better equipped to seek, hire and retain, employees.
With employees ranking this highly among the list of benefits that they look for from their employer, companies not offering a god retirement package, could end up losing out.
This list is by no means exhaustive, and other benefits employees expressed a desire to be afforded are discounted home loans, flexible spending accounts and child care subsidies, to name but a few. While it may not be easy to come up with employee benefit packages that work for both parties, seeking help has never been easier and there are many professional companies out there who can help you to devise, implement and manage great and affordable employee benefit packages.