Finding qualified employees is not an easy task. However, retaining those qualified employees is even more difficult. Many employees need more than a good salary or even health insurance benefits to remain with an employer. Benefits are one variable that keeps employees loyal to an employer and may not be an added expense to the employer’s bottom line. Keep reading to discover five of the most requested employee benefits that help retain qualified employees.
Flexible Work Schedule Benefits
Survey after survey keeps coming back to the same conclusion. The number 1 benefit employees want is a flexible work schedule. According to the International Workplace Group, 80% of employees surveyed said they would switch jobs if the new job offered flexible work schedules. Flexible works schedules include options to work from home, 4 day work week, and other ways in which the typical 9-5 Monday through Friday workweek can be made a bit more flexible to get work done.
Paid Family Leave
The United States is one of the few countries in the world that does not offer paid maternity or paternity leave for new parents. The new laws for family medical leave do not guarantee paid time off, they simply guarantee that a job of the same caliber will be available for an employee when he or she comes back from the leave. Companies that go above and beyond and offer paid family leave for new mothers and fathers to bond with their new babies are in high demand and attract many young parents or employees that are considering growing their family. The result is these employees can bond with their children and then remain loyal to the employer for years to come.
Student Loan Repayment Benefits
It is no secret that new graduates are leaving college with a debt that could buy a first home. However, these entry-level employees often are not making enough money to pay back these loans and afford life, such as rent, household bills, food, and all of the other expenses associated with living on their own. Therefore, many employees look for employment with a company that offers some type of loan reimbursement, even if it only a percentage.
Health and Wellness Programs
Many employees appreciate health insurance, however, they would really appreciate added health and wellness benefits. These benefits include things like walking clubs, gym time throughout the week, and even diet planning. Providing time and access to these types of benefits are enough to make employees happy, however, if your firm can afford some reimbursements for these types of benefits, that would be an added bonus.
Childcare is a problem for working parents. It is often extremely expensive and limited. It prevents parents from working longer hours or costs an exorbitant amount of money that can be debilitating for young parents. However, offering some type of childcare help, whether it is in the form of reimbursement or even an FSA plan through your health insurance provider can be a huge benefit. The FSA plan allows employees to use tax-deferred money to help pay for childcare. This becomes a win for both the employer and employee as it does not have to cost the employer extra money but can make a big financial difference for any family with young children.