Benefits Your Employees Need VS Want

benefits your employees need

Over the last 10 years, benefits packages have had to keep up with changing demand. With a workforce that constantly promotes change, it comes as no surprise that employees are beginning to want benefits that lean more towards the unconventional side.

Take Google, for example, who is known for their over-the-top perks, including lunches made by a personal chef, yoga classes, and haircuts. While these benefits draw in some exceptionally talented employees, retention truly comes from a benefits package that can also provide them with a sense of comfort and ease.

Changing employee benefits packages can be frustrating not only for you but also your employees – so how can your business be sure to include benefits that will stay up-to-date yet refrain from any drastic changes?

The core principle in answering this question is asking, “what will my employees need?” or better yet, “what would I need?” Putting yourself in your employees’ shoes allows you to make informed decisions as to what benefits are essential to include, and which you can stray away from.

According to a study done by Glassdoor, 57% of job seekers and employees reported that benefits are amongst their top considerations before accepting a job offer. Of the 57%, 40% said that medical insurance was their top priority when deciding when to say yes to an offer. Regardless of which study you look at, of the conventional benefits, health and medical insurance almost always rank as the top priorities for employees.

Other benefits that play a factor in the longevity of an employee’s time with a company are life insurance, retirement plans, and disability. Any type of benefits that include a sense of security in the case of an emergency or unforeseen circumstances are ones that your business should look into including in your benefits packages.

While unconventional employee perks and benefits remain in your control as you pick and choose what matches with your company culture, including benefits that employees need vs. want is vital in creating mutual trust amongst you and your employees.

If you need help creating a cost-effective employee benefits package, we would love to talk. Contact us here, or call us at 770-396-9600.

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