One of the most important factors for keeping your company flourishing is employee satisfaction. While compensation plays a substantial role in employee satisfaction levels, it is just one piece of the puzzle. You can also keep your employees happy by offering competitive benefits packages and on-the-job perks.
If you have built a satisfying culture for your employees, then you can use that culture to set yourself apart from other businesses. Shrewd candidates know that having access to perks and benefits is critical to producing excellent work in the long term. Using benefits to attract candidates to your company is a smart way to obtain — and, more importantly, retain — high-quality employees.
Health Benefits
People do not want to feel like they have to throw their money away just to stay healthy. One of the most obvious and effective methods of using benefits to attract candidates is offering competitive health care benefits. Rather than being put off by the expense of purchasing a superior health plan, think of it as investment that will not only give your employees greater peace of mind, but will also make them more physically capable of producing good work.
401k Packages
The pressure to save for retirement is on everyone, even 22-year-old college grads. If you can afford it, let prospective employees know that you recognize this pressure by offering generous 401k packages. High-quality candidates often have multiple job offers to choose from. If you can offer them the prospect of financial security not only in the short term but also in their retirement years, they are more likely to pick you.
On-the-Job Perks
Your stellar treatment of your employees should not stop with the obvious benefits. You should also offer perks that give your employees things to look forward to besides their paychecks – this is something any SMB can afford. For example, you might have every department offer a quarterly performance bonus, or you could reward special achievements with gift cards or vacation days. You can also organize fun company events that give everyone the chance to relax and bond. Any unique perks that you can offer will differentiate you from your competitors, so be sure to advertise them to your candidates during the recruiting process.
Work-Life Balance
The personal connections forged in small businesses are conducive to creating employee- and family-oriented atmospheres. If you are a smaller business, then you are in a good position to offer one of the most coveted and elusive benefits on the market: work-life balance. If possible, offer perks such as flex hours or work-from-home options. By doing your part to help your employees achieve work-life balance, you let them know they are more than just expendable bodies and that you value their happiness. This builds loyalty, which is the lifeblood of all businesses.
Professional Development
Another method for using benefits to attract candidates is offering a variety of professional development options and advertising this fact to jobseekers. The most enthusiastic and hardworking candidates tend to be wary of taking positions where they will stagnate professionally. If you can offer mentorship programs or ongoing training courses, you will attract candidates who are driven to excel even after they are hired. You might also consider offering full or partial tuition reimbursement for employees who want to obtain additional degrees while they are working for you.
Offering professional development programs is mutually beneficial for you and your employees. Your employees will learn new skills and obtain the tools they need to thrive, and they will funnel what they have learned back into your company.
Attracting the Best
Your business is a collection of people, and if you keep your people happy, your business will be more likely to succeed. Jobseekers are sure to notice that you take care of your employees, and they will want to experience that same level of care. Offering some or all of these perks will help you build a company that is not only prosperous but also healthy.
