The Most Valuable Employee Benefits to Offer
By Shannon Vize, Content Strategist at Mondo, an Addison Group company
Helping you find and hire the high-end, niche Tech and Digital Marketing talent you need is a topic we cover a lot. While hiring strategies, like speeding up your hiring process and knowing when to adjust hiring criteria for certain Tech roles, are important components that produce results, one of the most impactful ways of attracting (and retaining) the talent you need comes down to whether or not you’re offering the most valuable employee benefits. (Spoiler: Your competitors probably are.)
Invest in Employee Benefits That Matter Most
If you think your benefits plan and perks aren’t the reason talent is turning down your job offers or passing on an interview with your company, think again. Around 57 percent of candidates reported benefits and perks are among their top considerations before accepting a job, according to Glassdoor’s 2017 employee benefits guide. Tech employers should take extra time when crafting benefit and perks plans because the IT industry tied for the top spot among industries with the highest-rated benefits. Which means whatever you choose not to offer, your competitors will. The tech-based talent war is real, but the key to providing in-demand talent with the benefits that will entice and retain them is investing in what matters most to them.
It should be no surprise that better health, dental, and vision insurance was rated the most important benefit by Fractl’s 2017 Employee Benefits Study. It was also ranked as the top benefit based on correlation of overall satisfaction with benefit packages in that same 2017 Glassdoor employee benefits survey. Proving this core element of your benefits plan matters more than specific benefits or perks like paid maternity/paternity leave or vacation time. Getting it right and offering the best health, dental, and vision plans possible for your employees will also do more to improve employee satisfaction, which often results in increased retention and improved productivity, than catered meals or fun office decor will.
While providing high quality, extensive health insurance to employees costs much more than fun or “trendy” perks might, it’s often a major factor in a candidate’s decision of whether or not to accept a job offer. Coupled with the unpredictable future of U.S. health insurance coverage, an investment in expanding the health insurance benefits of your employees now is one that will provide the most ROI when it comes to attracting and retaining the high-end, in-demand talent you’re after.