A business is only as good as its employees. And to have great employees, you need to attract top candidates from the talent pool.
However, the competition to land these employees is tight. Apart from more businesses opening, job seekers themselves are looking for jobs that have not only high compensation but also enticing benefits. So if you want to attract valuable employees, investing in them from the get-go through excellent compensation packages is the way to go.
But with so many benefits to offer, from paid leaves to foosball tables, how do you know which ones make job seekers send their applications? We have a list of a few below.
1. Affordable Health Insurance
One of the most common benefits employers offer is health insurance, and it never fails to be something that attracts job candidates. Not only does it provide employees with guaranteed access to medical assistance, but it also gives them financial protection against the costs of hospitalization in case of an accident or diagnosis of an illness.
But while most employers offer health insurance, some choose packages that employers cannot afford. If you want to receive valuable job applications, then make sure to provide affordable but comprehensive health insurance.
2. Employer-Matched 401(k)
Like health insurance, 401(k) plans are an attractive benefit. Employers that match their employees’ pension plans, such as Lockheed Martin, Boeing, and Chevron, enjoy an excellent reputation among employees and job seekers. By matching employees’ 401(k) plans, it shows that a company is stable and ready for growth, making it more attractive to top talents.
3. Remote Work
One of employees’ pain points is commute time. It seems like everywhere you go today, heavy traffic follows. As a result, workers remain stuck on the road, tired and unproductive. By giving them the option to work from home, you’re eliminating one of their main pain points. What’s more, they can save on costs, have greater autonomy, and can enjoy a better work-life balance.
4. Flexible Schedule
According to Fractl’s latest Employee Benefits Study, more flexible hours is the second-most heavily-considered benefit for a job seeker, next to health insurance. Much like remote working, flexible work hours are a benefit that improves the work-life balance of employees. With this benefit, employees can better optimize their time and work when they’re most productive, which benefits both of you.
5. Paid Vacations
Paid time off is another critical consideration for plenty of job seekers. This benefit is an effective magnet for top talents because this type of candidate tends to be self-sufficient. When you give them paid time off, it shows that you trust them to manage their time and still be productive, allowing them to excel.
6. Student Loan Assistance
The student loan repayment benefit is one of the newest benefits companies are offering its employees. Currently, only three percent of businesses in the U.S. offer this, but it’s one of the most attractive benefits for top job candidates, especially fresh graduates. And it’s a win-win situation for both the employee and employer because the government provides tax breaks to employers who offer student loan assistance.
These competitive benefits might look like they will cost your company a lot. Still, it’s worth it, especially when you attract and retain employees who work hard and contribute positively to your company.
