Are you looking to hire the best talent pool for your organization? If yes, then you should leverage the power of employee benefits to recruit and retain quality employees.
Often, small businesses or startups don’t have a huge budget, so they can’t offer high salaries. A high salary alone cannot help you to recruit and retain quality employees. Because even if you offer an impressive salary, you won’t be able to hook the employee for too long. Whenever an employee finds a position that offers him/her employee benefits to create a balance between work & life, he/she immediately grabs the opportunity.
Why should you offer employee benefits?
Smart employees always seek job opportunities that enable them to create a healthy work-life balance. If you want to attract smart & efficient employees for your organization, then offering employee benefits should be at the forefront of your recruiting process.
When you offer employee benefits like paid leaves, health insurance, retirement plans, and maternity leaves, then you actually target the smartest pool of job seekers. Smart working people know that work-life balance is critical to their productivity, and they always go after jobs with employee benefits. It assures them that they won’t be paying anything to insurance companies and they have a healthy retirement plan as well. It adds to their loyalty for the organization, and their productivity improves.
How to leverage employee benefits to recruit and retain quality employees?
Follow the below principles to attract the smartest talent pool for vacant positions in your organization:
- Mention employee benefits in your job posting
Don’t be too late to start the employee benefits conversation with the job seekers. The best way is to mention the employee benefits offering in your job posting/advertisement.
Tell them why your business’ employee benefits are better than others. Mention all kinds of employee benefits and try to offer both traditional & non-traditional benefits.
- Offer a variety of employee benefits
If you want to use employee benefits as a recruiting tool, then include a wide variety of employee benefits to your business’ offerings. Try to create a mix of traditional & non-traditional employee benefits. Apart from traditional employee benefits like health insurance & annual paid leaves, introduce some non-traditional employee benefits too.
Flexible working hours, permission to work remotely, wellness support, learning & development sessions, and paid time off for volunteer work.
Non-traditional employee benefits provide a better work-life balance and help you attract, recruit and retain quality employees.
Quality employees mean higher productivity & low overturn rate
By offering employee benefits, you can recruit and retain quality employees. This impacts your employees’ work-life balance, and they feel happier coming to the work. Consequently, your organization gets higher productivity and a lower overturn rate.
The bottom line Offering a variety & quality of employee benefits can make a difference between attracting & retaining a highly talented pool of employees. However, make sure that you’re offering a market competitive salary package as well.