Have you ever offered a position to a qualified candidate, only to have them turn down your offer? There are many reasons why this happens, but if everything was going well, it’s possible that your benefits are to blame.
Employee benefits are one of the most important pieces to keeping your workforce healthy and satisfied. As you go through the interview and hiring process, be sure that you have a competitive benefits package to offer new employees.
Here are five ways that an employee benefits package can make or break a candidate’s final decision.
- People want to be part of a happy work culture.
No one wants to start a new job and discover that the company morale is poor. Unfortunately, this is the reality for businesses that fail to provide their employees with competitive salaries and benefits packages. A strong benefits program indicates a happier work culture in which employees are valued and respected. People are eager to be a part of that type of workforce.
- Good healthcare coverage offers peace of mind for “what if” situations.
Part of having a full-time career is receiving good healthcare coverage. In fact, some people work more for the health insurance than the income! Good health insurance means fewer bills, fewer headaches and fewer phone calls to the insurance companies. Employees also want to know that if they are faced with something unfortunate, such as an illness or injury, they will have the resources to help them.
- Vacation and sick days leave more time with family.
Work is important, but life still happens. Knowing that a reasonable number of sick days, bereavement days, and vacation days are built into the benefits package is important for new hires. Research from Monster Insights found that women value vacation time slightly more than men. However, men still rank vacation time highly and value this additional time off.
- Employees want to know they can grow with the company.
People like to know that they have room to advance their careers, whether that advancement is in the form of a pay raise or bonus. When presenting a competitive benefits package, it’s important to illustrate the many ways that new employees can grow within the company. Also, a strong retirement plan reassures employees that they can stay and retire with your company.
- Good benefits indicate less employee turnover.
With established employee benefits, you send the message that you care about attracting and retaining top talent. People want to know that they matter as individuals to your company. Having a desirable salary is part of this, and strong employee benefits is the missing piece. Employees who feel valued are more likely to remain in the company, resulting in less turnover and better overall working conditions.
By offering excellent benefits, you can retain quality employees, attract new talent, and maintain a competitive workforce. How do you think your current benefits package looks to employees? Is there room for improvement? #AbelCanHelp Contact us today! Visit abelhr.com or call 609.860.0400