Slow growth and inflation have been continuously affecting company earnings around the country. Remote work is becoming the new normal, making it much harder to entice in-person employment. Many companies are starting to offer competitive employee perks to counteract this trend. Below are a few of the most sought-after benefits by prospective workers.
Flexible Hours
Surveys show that flexible hours are more important to employees than the luxury of remote employment. The rising cost of childcare creates a solid incentive to stay home or work atypical schedules. Four-day work weeks and shortened Fridays are proving to increase efficiency and employee morale across the globe.
Retirement Plans
The pandemic caused many people to re-prioritize their careers and priorities. Inflation and economic ambiguity caused Americans to become acutely aware of their financial autonomy. Having a secure foothold in the future is more important than ever. Businesses are encouraged to supply a competitive retirement plan to maintain workers for the long term. An added perk is matching contributions to a 401(k) plan.
Better Health Care
In America, health insurance is at the top of everyone’s mind. Businesses should go above and beyond the base family health plan to recruit and maintain top-level talent. Nowadays, people are searching for inclusive dental and vision plans for themselves and their family members. Lower premiums or partially-funded premiums are also attractive options.
In addition to physical care, mental health needs have taken a front seat in recent years. The pandemic pushed anxiety, depression, and burnout into the spotlight. Any preventative care, whether mental or physical, benefits employers in the long run. It is less expensive to prevent an issue than to correct one. Early care saves the employer time and money by avoiding the cost of sourcing, hiring, and training a replacement.
Room for Growth
Employees are looking beyond their current position. Most new hires want to grow professionally rather than stay in the same role. One growing trend is business-sponsored certifications and skills to assist in promotions. Companies encouraging and funding education for their team members have been proven to raise employee morale, retention, and productivity.
Diversity is supported when education is sponsored. Disadvantaged groups are frequently excluded from career growth chances, which results in a predominance of white leadership in corporate organizations.
Employee education helps underprivileged groups compete on an equal footing by giving them access to learning opportunities that might not otherwise be available. At the organizational level, this entails developing a diverse talent pipeline for potential leadership positions and making your team members’ working environment more inclusive.