By Dan Darabaris
Having trouble attracting and retaining the right workforce even though you offer competitive wages? Maybe it’s time you reassess your benefits offering. Today’s workers want more than just a good paycheck. They’re prioritizing health, flexibility, and work-life balance. Do the perks you’re offering fit what candidates are seeking?
As an HR benefits specialist, I make it my job to be on top of the current in-demand workplace perks. Below is a list of those that I’m seeing employees are valuing most right now.
Top Workplace Perks
Health, Dental, and Vision Insurance
A good health insurance plan with robust coverage, including dental and vision, along with low out of pocket costs, continues to be the most important perk.
Wellness Programs and Benefits
Since the pandemic, employees are particularly making health a priority, so wellness programs and benefits are particularly attractive. These can range from biometric screenings, fitness competitions, and team sports to gym memberships and reimbursement for fitness trackers.
Paid Family Leave
Where paid family leave is not mandatory, this is a popular perk for workers of all ages. Younger workers are looking for PTO after birth/adoption, while older workers want the time to care for aging loved ones.
Flexibility as to when you work is key to maintaining a healthy work-life balance. Having some control over when you complete your tasks allows workers to more effectively manage their professional and personal lives.
More Vacation Time
Surveys indicate that many workers prioritize an increase in paid time off over a raise in salary. Allowing sufficient time for employees to recharge is also beneficial to an organization’s bottom line as it boosts productivity.
More Sick Time
A robust sick day policy demonstrates that you care about your workers’ well being, plus it can help keep your office healthy by preventing the spread of contagious illnesses such as the flu and COVID.
Learning and Development Opportunities
Workers want to know that you are invested in their professional development. Offering opportunities to learn new skills by participating in training programs or workshops, along with providing reimbursement for other educational endeavors, goes a long way in demonstrating you value your employees and their path to advancement.
Employer-sponsored retirement plans help your workers save for the future and provide a savings structure that they might not otherwise have.
Home Office Budget
With hybrid and full remote work options being so popular, workers appreciate when employers provide money to go towards a home office, from desks and comfy chairs to extra monitors and headphones.
Employee Recognition Rewards
Most of all, workers want to know they are appreciated, and employee recognition achieves that. Formal moments of recognition, performance bonuses, and team reward points to use towards purchases all show your appreciation for a job well done.
Employee expectations are more elevated than ever. If you want to compete, you need to make sure your workplace perks are keeping you in the game.
It’s important to periodically complete a Benefits Analysis to ensure you are being competitive in the market. In employees’ eyes, benefits equal additional compensation, so you want to make sure your offerings are robust to attract and retain top talent. Monarch can provide a comprehensive benefits analysis for all size companies, please reach out to schedule yours today.