Employee Benefits Candidates Don’t Care About (And One’s They Do)
Companies are looking for every edge to attract and retain top talent. As part of this, firms attempt to build enticing benefits packages that will keep them ahead of competing employers. But which of these benefits really draw the best candidates, and which ones elicit eye rolls from job seekers?
It’s a crucial question when you think about recruiting and retention. You need to target benefits that provide the most value to your employees so that you can make them long-term team members.
With that in mind, here’s a look at the employee benefits candidates care about and one’s they don’t.
Benefits that Don’t Really Matter to Employees
Every part of your business revolves around maximizing the return on your investment. You want to get the most out of every resource.
Benefits work the same way. You don’t want to waste time and money on perks that don’t give you the proverbial bang for the buck. If you can identify these less-appealing benefits, you can drop them and reinvest your budget in offerings that will truly attract the best talent.
With that in mind, here are some benefits that don’t carry a lot of weight with job seekers:
The idea of foosball and ping pong during lunch has its appeal. But how often does this actually happen? The same dynamic works for the promise of regular happy hours. On most days, your best workers will want to head home, get some sleep, and be ready to achieve again tomorrow.
Your team members will probably like each other. They will collaborate effectively during working hours and occasionally socialize on their own time. However, they don’t need you to force this connection.
A Fractl survey of 2,000 workers, published by the Harvard Business Review, found that three of the four least sought-after benefits related to forced worker togetherness. Company-wide retreats, weekly free employee outings, and team bonding events – all ineffective in attracting job seekers. No more than 26% of employees surveyed said they considered any of these so-called benefits when choosing a job.
Free Snacks and Coffee
The data published by the HBR also showed the general indifference employees feel towards free goodies. Fewer than a third of employees gave these perks any consideration.
In-Demand Benefits That Will Attract Top Talent
It’s not enough to drop meaningless benefits. You also need to know which ones truly matter to your employees. Here’s a list of some of the highest-value benefits you can provide:
Comprehensive Health Insurance
For most jobs, medical insurance has become a core benefit. But many employers are going beyond basic coverage. In a world where most companies provide some health offering, you need to go further. This can include choices like:
- Mental Health
Promoting Work/Life Balance
The HBR data concerning the most sought-after benefits showed health insurance at the top, with 88% of employees giving it at least some consideration when choosing a position. However, that was tied for the number-one slot with another benefit. Flexible hours.
Along with their health, workers value input into their working hours. This is just one of the work/life benefits they crave. Employees also sought more vacation time (including unlimited vacation) and work-from-home options.
Workers are looking to become life-long learners. This is part of the process of developing a career for the long haul. You can give them a boost in this area by providing educational support.
This can come in the form of internal training or subsidies for continuing education. You can also draw high-end candidates by helping your team members pay down their existing student debt.
Offering a great benefits package isn’t enough. You also need to find the best talent available. A top recruiter, like SmartTalent, will give you the edge you need to build your winning team.
Contact SmartTalent today to learn more.