Throughout the COVID pandemic, workers’ expectations have evolved. So, what can your organization do to attract and retain top talent in 2021? Here are three employee benefits tips.
Employee Benefits Tips for 2021
Look Beyond the Paycheck
Of course, pay IS important. You need to compensate your team fairly. Nevertheless, today’s employees also recognize the importance of other benefits and perks. These may include:
- Comprehensive health insurance
- Dental and vision insurance
- Wellness programs
- Mental health support
- 401K retirement plans
- Employer matching contributions
- Flexible scheduling
- Remote work
- Home office budgets
- Discounted and/or on-site childcare
- Extended family leave
- Paid time off
- Employee discounts
- Tuition reimbursement
- Professional development opportunities
- Employee recognition
- Stock options or profit sharing
This list is ambitious, so your company won’t be able to do it all. Instead figure out what you can afford, what your team values and what makes the most sense. For example, if you pride yourself on being a family-friendly employer, you’ll probably want to focus on flexible scheduling over tuition reimbursement.
Help Employees Maximize Their Perks
A lengthy list of perks looks fantastic in a job posting, and it’s a wonderful way to attract top candidates. However, are your employees USING these perks? If not, your organization is wasting money and losing talent. Therefore, regularly assess participation. If people aren’t taking full advantage of a program, work toward increasing involvement. Ideas include:
- Conducting ongoing training sessions on topics like: “How Can I Get the Most Out of My Retirement Plan?” and “What’s Included in My Health Insurance Package?”
- Bringing a financial planner on-site to advise people individually
- Sending out a monthly (or weekly) email highlighting an employee perk
- Designing “By the Numbers” bulletin boards or PDFs showing the impact of programs
- Meeting with workers who never take vacations and encouraging them set aside time to recharge
Once again, your strategies will depend on your organization. If you’re not sure where to begin, start small. For instance, many health insurances and retirement companies automatically offer free on-site presentations that provide an overview of available benefits.
Make Work More Flexible
Over the last year and a half, remote work has become the new ideal. But unfortunately, this isn’t a possibility for all businesses. Manufacturers, warehouses, healthcare facilities, retail stores, and some offices need people who are physically present. If your organization falls into one of these categories, don’t worry. Even if you can’t offer work-from-home benefits, you still can compete. Simply, consider other options such as flexible start/end times or compressed workweeks. And remember, one size doesn’t fit all. Plan to negotiate with employees based on their individual situations.
Are You Looking for More Business Insights?
BOS Staffing publishes weekly blog posts on topics ranging from boosting employee morale to hiring for diversity and inclusion. And if you’re having trouble finding the right people for your team, BOS can help with that too. Our recruiters place skilled manufacturers, IT professionals, office workers, and more with top companies throughout the greater Atlanta area. Contact us today to solve your staffing challenges in 2021 and beyond!