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A benefits package is a crucial part of attracting top talent to your company. Without a wide range of benefits that appeal to your candidates, you may have trouble finding the right people for the job.
Building a benefits package that provides exactly what all of your employees want can be difficult. That is why there are so many options today to build a package with benefits that work for everyone. If you are still considering what to include in your employee benefits package, here are some options that you may want to consider first.
Understand the Priorities for Your Employees
The first step in creating a benefits package that will entice new employees to work for your company is to get an understanding of what your employees prioritize in their lives. For some, having the ability to work remotely is a top priority, while others may find that benefits to help them aggressively save their money is a priority. You may also have to consider the average age of your workforce to better determine what benefits will be most helpful. Some older employees may prioritize retirement savings, while younger employees want to see a company that provides benefits in the area of personal wellness.
Not everyone will have the same idea of what benefits will work best for everyone. That is why the option of adding voluntary benefits can make sure you are offering packages that everyone can benefit from.
Consider Adding Voluntary Benefits and Incentives
Another area where your company can expand the traditional benefits package your job candidates are looking for is to provide a range of voluntary benefits. These benefits can be accepted at the employee’s choosing. Some common voluntary benefits that a company can provide its employees include additional insurance options, identity theft protection, pet insurance, tuition reimbursement, transportation benefits, and wellness program incentives. With a variety of options, you will be able to provide everyone with something that they want while not requiring it for everyone.
Move Beyond the Standard Benefits when Building Your Benefits Package
Standard benefits can be what some employees are looking for, but in many cases, you will stand out to them as a potential employer by offering benefits that are not considered standard. These non-standard benefits can include things such as expanded PTO that covers additional parental or dependent care leave, a 401(k)-match program, the ability to take a sabbatical, better retirement options, and expansion of health benefits, such as adding an option for a health savings account or incentives for participating in wellness programs.
Think Beyond Individual Benefits
Another area that can greatly improve your company’s ability to attract top talent is promoting a positive company culture and work environment. Not only will this attract those who see this as a priority for their next job, but it can also be a cost-effective way of attracting the right people for your company’s open positions.
With a mix of standard and flexible voluntary benefits, you can build a benefits package that will wow your job candidates and keep current employees happy.
