Top performers have a choice in where they work. While a great company culture and strong compensation strategy can go a long way in attracting them to work for your organization, employee benefits also play a crucial role in winning top talent for your team. In fact, 60 percent of candidates are likely to take a job with a lower salary but better employee benefits. If you want to win top talent for your team, consider how you can up your employee benefits game.
There are some employee benefits organizations are expected to offer. Eighty one percent of people expect their employer to offer major medical insurance, while 75 percent expect dental insurance. Seventy five percent also expect 401k or other pension programs, 68 percent expect vision insurance, 59 percent expect life insurance, and 54 percent expect disability insurance. If you’re lacking any of these benefits, this would be a great place to start to ensure a lack of basic benefits isn’t keeping you from winning your top-choice candidates.
Top performers got to the top by consistently perfecting their trade, and professional development benefits will help them continue to do so. This may be in the form of tuition reimbursement, conference attendance, online learning subscriptions, or onsite learning and development programs. As an added bonus, your organization will benefit from your employee’s new skills. It’s a win-win situation!
Paid time off
Paid time off gives top performing employees much needed time to recharge. Most organizations offer two weeks, so you can stand out to top-tier talent by offering three or more weeks. Consider offering unlimited paid time off if it would work for your industry and workforce. Top-tier talent will know that they need to get their work done, and many already check in during their time off anyway. Provide them with a better work-life balance by allowing them to take the time they need for themselves, so they can focus on their jobs while they’re at work.
Top performing working parents want to excel in their career goals while growing their families, but often struggle to do so. Win these candidates for your team by providing employee benefits that appeal to working parents. Paid parental leave that applies to both working mothers and fathers, including adoptive parents, is a great place to start. You may also consider offering adoption benefits or childcare assistance for employees who may need it. Many benefits that attract working parents will also appeal to your overall workforce, such as flex hours, the ability to work from home, or part-time opportunities — and these won’t cost your organization a penny to implement.
While recognition can go a long way for top performers, revenue sharing is a nice way to reward them monetarily. Something along the lines of stock options or performance bonuses mean that the harder your employees work, and the more revenue they generate for your organization, the more they will see financially.
Top performers have many choices when they decide to pursue a new opportunity. Attract them to your organization and help them choose your offer by providing a strong lineup of employee benefits. On top of the basic benefits, like healthcare insurance and retirement savings, offer benefits that help top performers stay at the top of their game, such as professional development and adequate time off. Not only will you be able to win top-tier talent for your team, you’ll be able to retain them.
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