Of course, hourly wages and salaries have always been important to employees. Who doesn’t want more money? But in today’s market, perks and benefits play a significant role too.
Traditional benefits packages included items such as health care, retirement plans and even stock options. Recently, to meet the needs of a modern workforce, employers have begun to rethink perks. Three current trends include:
Paid Family Leave
The Family and Medical Leave Act guarantees workers up to 12 weeks of unpaid, job-protected absence, while four states (California, New Jersey, New York and Rhode Island) have laws requiring paid family leave. However, many companies are voluntarily extending these benefits to create more family-friendly work environments. For example, Starbucks adopted a new parental leave policy in 2017 allowing mothers, fathers, same-sex couples and adoptive parents up to 12 weeks paid leave at 100 percent of their annual salary. Although less common, other organizations have an infants-at-work policy, where new mothers can bring their newborn to the office. And, family leave isn’t just for parents. Facebook provides 20 days of paid bereavement leave and six weeks of paid leave for the care of a sick relative. (ADP, 2018)
To further enhance traditional health insurance, both employers and insurance companies are offering services to allow employees to live healthier lives. These may include discounted fitness memberships, on-site workout facilities, cooking classes and in-house stress management programs. In the end, everyone wins. Workers are happier and healthier, and businesses profit from fewer sick days.
Remote Work and Telecommuting
Even though many businesses cringe at the idea of remote work, Inc.com recently dubbed work-from-home arrangements as the “world’s smartest management strategy.” Not only do workers appreciate the freedom and flexibility, but studies show telecommuting can increase productivity. When a group of call center professionals at Ctrip, a Chinese travel website, worked from home for nine months, they completed 13.5 percent more calls than the on-site staff.
Which Benefits Are Right for Your Organization?
The right answer depends on your company. First, consider what is reasonable for you. Most businesses can’t compete with the unbelievable perks offered by Google, but this doesn’t mean you can’t be creative. If free lunches aren’t an option, consider buying your team pizza every Wednesday or even once a month. Or, if you need your workers on-site, think about allowing for flexible start and end times. Second, try to promote perks to reflect your culture. For example, Apple provides tuition reimbursement and free training at Apple University, thus encouraging their employees to “Think Different”. By matching your benefits to your mission, you can more authentically attract and retain workers whose values align with those of your organization.
Are You Hoping to Convince Top Employees to Join Your Team?
BOS Staffing can help you find talent and hire smarter. We place medical, professional, IT and light industrial workers in Atlanta, Georgia, and the surrounding areas. Don’t let the work pile up, request an employee today.