Hiring a team of great employees can be difficult for a small or medium sized company, but retaining them is the biggest challenge. Even if the salary you are paying your employees is extremely interesting, they might be tempted to leave if they think they can get better benefits someplace else. In order to retain the top talents, a company should invest in their employee benefits management program.
Some of these benefits take form in monetary incentives. Others are convenient perks designed to make the employee’s life more accommodating. Companies can get as creative in finding the most important benefits that their employees will truly love. Think about some office perks that will match your company culture, and make your employees happy. Even small rewards such as high-quality coffee or a ping-pong table can make an important difference.
When you decide which benefits you should offer to your employees, you have to make sure the benefits you pick are the ones they really want. To help you get started, here are the top ten most important benefits to employees.
1. Paid vacation days
Paid vacation days are one of the most important benefits to employees. Being able to take some time off from work to go on vacation, or simply to spend time with friends and family, is a luxury that many people can’t afford.
Offering paid vacation days to your employees is an easy way to ensure they will be able to take some time off, and come back feeling recharged and ready to work.
2. Health insurance
Health insurance is an important job benefit that all employees want, and deserve. You need your employees to be productive, but you should also want them to be healthy.
Many people are not able to get the health care services they need because they can’t afford a good coverage. Make sure your employees can easily see a doctor when they get sick or injured.
3. Telecommuting options
Telecommuting is not for everyone, but many people are happier and more productive if they can work from their home instead of having to show up to the office every single day.
Offering telecommuting options to your employees will allow them to work from home and take care of their children, or simply to avoid a very long commute.
4. Flexible scheduling
Those who don’t want to work from home would still enjoy the benefit of a flexible work schedule, so they can be there for their family when they are needed.
Flexible scheduling allows employees to pick their own work hours, which is something that is sure to make them love their job even more than they already do.
5. Tuition reimbursement
Education is expensive, and many people decide to not get an advanced education simply because they don’t want to get into debt.
If you can offer tuition reimbursement to your employees in exchange for the promise that they will keep working for you for a certain period of time after they graduate, it would sure be an important benefit for many.
6. Unemployment insurance
Depending on the industry you are in, offering unemployment insurance to your employees could be necessary, especially if there is a high turnover rate.
If you need to let go of some of your employees during a certain period of time, they will probably go look for a job someplace else if you can’t offer them the security that comes with unemployment insurance.
7. Maternity leave packages
It only makes sense that many of your employees will want to start a family at some point or another. If you don’t want them to leave, offer them a proper maternity leave package.
You should also add paternity leave to the list of the benefits your employees can enjoy, so men can stay home to take care of their new baby as well.
8. Transportation benefits
Many employees hate their commute, and many often get to work late because of an unreliable public transportation system.
You can make your employees happier by offering them some transportation benefits. You could provide them with commuting reimbursements whether they are using their car or public transportation, or offer them to get to work using a company shuttle.
9. Performance bonuses
If you want your employees to perform to the best of their abilities and to be more enthusiastic about their job, you need to provide them with an interesting incentive.
If you offer them a bonus for their outstanding performance, they will want to work harder not only so they can earn more money, but also so they can get more recognition.
10. Retirement packages
Finally, you need to offer satisfying retirement packages to your employees. Even if they decide to stay with you longer because of your amazing benefits, there will come a time where they will start thinking about retiring.
If they know they can count of your retirement packages, they will have their peace of mind and, who knows, might decide to work for you one more year.