The new year is an opportunity for a fresh start and new beginnings. This year, for many employers, the most common recruiting challenges remain the same. More organizations will need to start thinking outside-the-box when it comes to attracting and retaining employees and identifying innovative incentives to offer is a good place to start. The more flexible, creative, and valuable a company’s employee benefits package is, the more likely employees are to remain loyal.
Employees typically look for work that offers higher compensation, but a paycheque isn’t the only thing they want. Employee benefits packages and other perks give companies an edge in the competition for talent. Research suggests more than half of employees say they’re willing to quit their jobs if they think their benefits package isn’t good enough.
Going above and beyond healthcare, dental and vision coverage starts with taking stock of your industry and current workforce. Every generation of workers has different needs and demands. Given their age and career stage, baby boomers may be more likely to appreciate traditional offerings, such as retirement and healthcare benefits. On the other hand, millennial workers may be attracted to employers offering student loan repayment assistance and flexible working schedules.
When it comes to innovative benefits offerings, the options are almost endless, depending on a company’s objectives, budget, and employee needs.
Here are five ideas for out-of-the-box benefits that could improve your current offerings:
Not sure where to start? We can help you determine whether any existing employee benefits offerings could be changed or improved to meet the needs of your workforce and give your company an edge in the hiring process. Contact us so we can work together to create solutions that work best for you and your organization.