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What Benefits Do Employees Really Want?

What Benefits Do Employees Really Want?

July 31, 2023

What Benefits Do Employees Really Want?

As job markets become increasingly competitive, top employers have begun to realize that they need to provide more than just a salary if they want to attract the best talent. As a result, employee benefits are becoming even more critical these days. The reality is that companies that offer the most popular and in-demand employee benefits typically attract the top talent, in addition to retaining more of their existing employees. In this article, we’ll identify some of the benefits that employees appreciate and that companies should consider offering.

#1: Flexible Work Arrangements

Arguably one of the most desired employee benefits in recent times is the ability to work remotely. Employers that allow their staff to work from home – even just a few days a week – have in many cases experienced a drop in turnover rates. Employees tend to feel more empowered, trusted, and satisfied when their employers allow them to work outside the office. They frequently appreciate the flexibility and the reduction in the amount of time they spend commuting. Many achieve a better work-life balance.

#2: Health and Wellness Programs

Naturally, many employees care immensely about their personal health and well-being. Companies that offer gym memberships, fitness classes, or other wellness programs as part of their employee benefits packages show that this matters to them too. In general, a healthy team is a happy team; as a result, these perks can be helpful as an organization strives to retain its employees.

#3: Paid Parental Leave

Paid parental leave is increasingly becoming a more widely expected employee benefit. This type of policy has become more prevalent in many countries worldwide in recent years and is an indication that companies recognize the importance of family life. A generous period of paid leave can help new parents take the necessary time to bond with their child(ren), which ultimately leads to a more engaged employee once they’ve returned to work.

#4: Retirement Options

Many people worry about not having enough money to last them through retirement. Offering employer-sponsored retirement plans such as 401(k)s or granting employees access to investment advisers can potentially increase employee loyalty. Companies that offer retirement benefits show that they care about their employees' future financial security.

#5: Professional Development and Education

Companies that invest in their employees' education and support their desire for professional growth typically exhibit lower employee turnover rates. Offering their employees opportunities for professional education and training at no cost can in addition create an environment of continuous improvement. Employees tend to value such opportunities and are usually more loyal to their employers as a result.

By offering the benefits that employees really want and that align with its values and goals, an organization has a much better chance of attracting and retaining top talent. Additionally, offering attractive benefits will likely encourage employees to give their best while building a positive company culture that promotes cohesiveness and team spirit. Retaining the best talent is a primary goal of any business, and providing the most in-demand employee benefits can be an excellent way to achieve this.