According to a survey conducted by the Society of RisePath HRTeam Management, 92% of workers feel that their job satisfaction is mostly due to the perks they get. When you consider that roughly 23% of workers don’t get any benefits at all, it’s a little surprising. As vital as it may be for you to have an HR Employee Benefits Package, it’s as crucial to analyze the perks you’re providing inside those benefits as they aren’t the same for everyone!
Healthcare benefits are still at the front of the list of what workers desire, but companies have missed the target on other features throughout the years. In-office benefits like free food & drink are well-known for their ability to both entice new workers and keep existing ones happy. However, this may not be the case. Work-life balance and health and well-being are increasingly important to employees, who seek more personal perks that help them accomplish these goals.
In other words, although free meals, foosball tables, and beautiful lounges may seem enticing, they aren’t the advantages that will attract fresh talent and keep your present workers engaged. There is a 31% increase in productivity among contented workers. Even more so, because benefits are a vital element of work happiness, you can see how crucial it is to have the appropriate ones!
The following are some effective perks that your company should incorporate into its benefits package to entice the next generation of workers and also to minimize turnaround time and increase productivity in the office.
Health and Happiness-Promoting Benefits
You’re likely to think of a health insurance plan when you think of a conventional benefits package. In order to avoid fines under the Affordable Care Act, employers must provide health insurance (ACA). It’s possible, though, that you’ll want to go beyond the basics of healthcare coverage and concentrate more on your workers’ personal health, well-being, and happiness.
Put greater emphasis on perks that allow employees to spend more time with their families and on their own well-being at home rather than on things like food & games that are meant to keep them in the workplace.
Employees are increasingly seeking flexible work schedules and the opportunity to work from home. Remote employment gives workers the freedom to do the following things:
- Schedule their time more freely.
- Work from any location, as long as they have an Internet connection
- Increase the amount of time they spend with the people they love
Remote employment isn’t simply a fad, though. It’s becoming a norm for many employees around the nation because of the constant developments in technology. Almost half of all American employees now do their work from home. Employees’ emotional and mental well-being may benefit from the freedom that comes with remote work, which alleviates some of the pressures that come with working in an office. Recent research found that people who work from home tend to be more productive than others who work in a more typical office environment.
It is also possible to promote good health in the workplace, both mentally and physically. Wellness competitions at work may help workers remain encouraged to be active by fostering a healthy rivalry amongst them. Showing your workers how much you care about their well-being may be as simple as providing them with free lunches, walking meetings, or even mental health days. As part of your corporate wellness program, you may incorporate things like constructing a gym in your workplace, facilitating breathing or meditation workshops, and even creating a “silent room.”
Perks That Focus on the Family
Employees must also be able to devote time to their personal lives and the lives of their loved ones as well. In addition to spending more time with them, this means having advantages that extend to other members of the family. One of the best ways to attract new workers and keep the ones you already have is to provide a generous parental leave policy.
Employees who have or are expecting to have children will be more likely to make use of this bonus. In light of the fact that about 4 million kids are born in the United States each year, companies must do more to support new parents by providing paid parental leave that allows them to connect with their children, relax, and recover without being concerned about their financial situation. Pay for parental leave is now offered by just 40% of businesses, which is shockingly low.
Successful businesses show that providing workers with appropriate parental leave is still a viable strategy for achieving business goals. These organizations allow their employees to take up to a full year of paid maternity leave. It doesn’t matter if your firm can’t afford it, having a package in a place that takes care of the new parents may be a significant advantage when you’re trying to recruit new workers who could be younger & thinking about establishing a family of their own.
If your goal is to keep your current workers, you may want to consider giving perks that also benefit their families. It is important to provide your staff with family-friendly benefits, such as
- Assistance with academics
- On-site childcare
- Assistance with children’s extracurricular activities with increased monetary resources
Some firms throughout the world place a high focus on family benefits. Family vacations and enjoyable activities like tickets to a baseball game are offered by a certain company to its workers as a way of encouraging them to relax and enjoy their leisure.
Packages That Pay Attention to the Whole Individual
Stop thinking of the present and future employees as “workers” if you want to put up a benefits package that’s worth your time and money. Everyone, in the workplace and out, seeks recognition for their contributions. If you take the time to get to know your workers as individuals and consider their work-life balance, you may create more meaningful perks for your staff.
If you have the correct perks in place, you can help your own company grow as well. Happy employees are more productive. They’ll also do a better job and be more devoted to your company as a consequence of their reduced stress levels. Happiness in your workplace has been linked to a 12 percent increase in productivity in 2014. ‘Chief Happiness Officers,’ who are in charge of making workplaces happier, are now being hired by certain firms.
His company’s performance is directly linked to how happy his workers are, according to an entrepreneur, who founded and serves as the company’s Chief Happiness Officer.
Investing in employee satisfaction will not only improve retention but will also aid in recruitment. In addition to attracting top talent, a generous benefits package can provide you with an edge over your rivals in the race to hire the finest personnel in your field.
It is easier to distinguish your organization as a caring one if your workers may take advantage of the advantages that they want. In order to attract more favorable attention, you may establish new trends in the industry by delivering unique perks.
Instead of assuming that you know what your workers want, ask them directly about their goals and aspirations. Sixty-six percent of American workers said in 2018 that they did not have a good work-life balance. If you take a close look at that number and consider how you might improve it for your workers, you may find that your benefits package is more attractive.