How to Build a Competitive Employee Benefits Package

When applying for a new job, candidates want to know if there is something in it for them. In the competitive world, we are now living in, it can be hard to attract and retain the very best talent; therefore, business owners are continually adapting their employee benefits package to cater to each employee’s interests and needs. When employees are satisfied, it improves their engagement with the business and can lead to improved sales and customer service.

In this guide, we’re going to take a look at how to build a competitive employee benefits package that potential candidates simply can’t refuse.

1. Flexible working

Many employees are now drawn to companies that offer flexible working options. Two-thirds of US workers have a flexible work schedule, which may provide the prospect to work from home on several days of the week or give them the option to change their days or hours to fit around other responsibilities. This benefit means that employees don’t have to waste valuable time commuting to and from the office every day while proving that those in authority care for the employee’s happiness and wellbeing on a more personal level.

2. More vacation time

According to a study, 80% of employees claimed that extra vacation time was an enticing perk when applying for a job role. Additional vacation time is not an overwhelming expense but could be a huge factor in retaining your very best talent. The survey discovered that candidates would prefer to apply to a job with a lower wage and more vacation time, so it’s certainly a benefit not to be overlooked.

3. Training and education

60% of millennials claimed that training and additional study is an essential factor they look out for when applying for jobs. This is down to the fact that the young adult generation likes to feel confident when carrying out their tasks and potentially get promoted in the future, so they can earn higher salary. As a company, it would be a good idea to research various educational institutions and find out what the Caltech acceptance rate is on CampusReel to offer this benefit to employees once they have enrolled in your team.

4. Laptop and cell phone allowance

As most companies now operate online, offering employees a company laptop and cell phone is usually crucial to fulfilling their job roles, especially when working from home. Asking an employee to use their own laptop for work purposes isn’t reasonable, as it adds substantial wear and tear to their own devices and leaves sensitive files open to security hacks. It also would not be fair to expect employees to give out their private phone numbers when dealing with clients, as this neglects data protection laws.

5. Pets

Some offices are now allowing animals into the workplace. There have been studies to suggest that pets can help employees feel more relaxed and comfortable while at work and lowers stress levels, which, in turn, increases employee productivity. Not only will it reduce the expense of pet-sitting services that employees are expected to pay out when they go to work, but it also promotes a more positive working atmosphere.

Infographic created by Mowery & Schoenfeld, providing individual tax services