10 Employee Benefits to Attract Top Talent

If you are a business owner, you know that it's the right people who will set things in motion and help you make your vision a reality. You need a team that will live your company mission. Attracting and keeping top talent is no mean feat. We look at 10 employee benefits to attract top talent.

10 Employee Benefits Your Business

Employee benefits are non-wage compensations that businesses offer to employees. You may also know them as perks, fringe benefits, or perquisites. Offering great employee benefits is a win-win situation. You will recruit top talent and now that they are on your team, their experience and knowledge will help you win the market.

The following are great employee benefits that will help you attract top talent.

Flexible Work Arrangements

Letting your employees work from anywhere gives employees the flexibility they need to work from home, on the road, or at a distance. This will also let you hire a great candidate for the job, even if they are hours away. Of course, your business must be capable of off-site work.

Medical Benefits

Providing medical benefits to your employees you would think is a given, but not all businesses offer them. Giving your employees the option to get insurance through your company will give you the edge when it comes to attracting good potential employees. Look for a medical plan with a decent deductible that will cover general medical expenses, dental, vision, and maternity care.

Pension and Retirement Plans

A big difference between a job and a career is a benefit that will cover an employee's future. This is where a retirement plan comes in. Offering a 401(k), Roth IRA, or another type of investment plan will not only help you attract top talent but also give them an incentive to stay with your business.

Family and Medical Leave

We need to understand that our employees don't just work their entire lives away. They'll need to tend to their families and their health. By offering your employees paid leave time to take care of these commitments, you'll bring in dedicated workers and build morale.

Paid Time Off- Vacation and Sick Days

Everyone, not just the boss, needs a vacation now and then. Whether it's to go on that honeymoon or take a few days to recover from a bad cold, having paid time off gives employees peace of mind. They can relax and rejuvenate without losing money.

Paid Parental Leave

Having a new addition to the family is a memorable and intimate experience for most families. An employee will appreciate having enough time with their family when they have a newborn. Offering either maternity or paternity leave is a huge perk that will definitely make your business an attractive one. Your employees can rest assured that not only will they be able to provide for their family, but they will also be present for their child when they are needed the most.

Gym Membership

Physical activity has been found to increase productivity. Some employees appreciate getting the time to work out, keeping their body and heart healthy, and by extension, their brain active. It's also great for employees who have to sit at a desk all day.

Tuition Reimbursement

Aside from moving forward in their professional career, your employees may also want to move ahead in their education. You can support them by offering to pay a partial amount of their education. Their new skills may even be to your company's benefit. In addition to this, the employee reimbursement program is tax-deductible so it will look good on your books.

Pay Raises

Top talent knows their worth and knows that they deserve a salary that matches their value. You may be offering a big initial paycheck, but will it change in the future? A fixed income won't be able to sustain an employee over the years with inflation and rising costs of living. Therefore, offer them the promise of a raise subject to their good performance. Salespeople are also motivated to accept a job offer when they know that they can make good commissions with a successful sale.

Food and Beverages

Since work hours may take up a better part of the employees' day, the workplace becomes a home away from home for them. Catering to your employees by offering them food and beverages is a benefit to both you and the employees. With enough fuel, they'll have the energy to handle their daily off tasks. Your employees will appreciate having the daily food expenses being taken away from their budget.

In Conclusion

Recruit an efficient team by putting together a great benefits package. The right hires will always put their best foot forward and the least you can do as a business owner is to take care of a few basic needs. Remember, when your employees are happy and healthy, so is your business. Don't lose a potential team member who could take your business to a whole new level just because there was no "benefit" to them taking the job.