05 Oct Benefits For Attracting Top Talent
Benefits For Attracting Top Talent
Employee benefits are a key driver in recruitment and ensuring job satisfaction for retaining employees. A big part of HR is the challenge of attraction and retention, and benefits are essentially the “magnet” that draws in employees. If your offerings fail to meet employees’ health and financial demands, you risk losing top talent to companies with more complete coverage options. You must be able to offer benefits that are appealing to the talent pool in which you are trying to pull. Doing so, however, doesn’t have to break the bank. In this installment of CenterStage, Denise Kestner, Chief Talent Officer and HR Practice Leader at ClearPath Benefits Advisors, has highlighted the importance of sweetening your benefits package offerings to attract top talent for your company.
Provide an Engaging and Unique Experience
The value of benefits to job seekers and employees is becoming increasingly important. When organizations invest in creative and progressive benefits, it shows current and prospective talent they truly care about culture, happiness and the well-being of their workforce. As a result, overall wellness has been an ongoing theme of progressive benefits. Taking into consideration the holistic employee experience, employers want to create a nurturing environment that promotes mental, physical and financial wellness. Promoting kindness, respect for individuality and diversity are among the many ways an employer can increase productivity and decrease turnover rates. Denise believes that when an employer invests in the employees, the employees seek to care for the customer and, ultimately, the company makes money. Ultimately, the company is then productive and therefore makes money. In fact, companies whose culture incorporates the element of kindness are approximately 23% more profitable.
But what exactly are these progressive employee benefits that employers and HR pros should know about? Today’s employee looks for a company that can provide benefits to lift the burdens of everyday life off their shoulders and offers a range of convenience; they want to enjoy their lives outside of work and not feel on the clock 24/7. Denise believes the successful employer understands you are not filling an office full of mindless robots who clock in and clock out each day, but rather, you are “buying the whole individual”. You are not just hiring employees to become part of your organization; you are hiring them as themselves with respect to their need for a life balance: their talents, their hobbies, and their interests. Essentially, progressive benefits are the “quirky” and “out-of-the-box” offerings today’s employees are in search of when applying, such as bulk retailer memberships and/or discounts, stipends for at home fitness equipment or even standing desks.
The key factor to consider when drumming up what benefits can be offered by your company is understanding who exactly it is you are trying to recruit. This will help you to better concentrate efforts in targeting your desired future employees. For example, the many millennials entering the workforce are vibrant, full of life and do not believe they will grow old. Therefore, the need to include long-term care coverage in a benefits package is not necessary. However, if you are aiming for employees of older generations, then they will be looking for long-term coverage. Additionally, knowing the identity of your company helps to craft your offerings to have a stronger impact on your recruitment. If you have a predominantly female office, your benefits may want to include flexible hours during the school year to allow them to pick their children up from school.
How ClearPath Can Help
As you would expect from our outstanding group of advisors, we are conducting industry-leading research through our HR department to better understand the market for progressive employee benefits to deliver lucrative information to our customers. Currently, our HR department is hosting several speaking events in which we explore the topic of progressive employee benefits and how to properly utilize what is available within your budget to sweeten your benefits package.
At ClearPath Benefits Advisors, we fill the need for group products. We work hand-in-hand with our clients to drive home results and give them the answers to the questions they need to be successful. To learn more about progressive options beyond insurance, contact Denise Kestner at 614-754-1853 or by email at email@example.com.