3 Top Employee Benefits People Look for When Choosing an Employer
Finding a good job that offers favorable employee benefits is not always an easy task. You will have to be patient and go through various jobs before finally getting that one employer that offers good benefits. Employers are also finding it hard to get individuals with the right skills for various jobs. It is important as an employer you understand employees’ needs to find the best. You can find insights on what potential employees look for at employee benefit management services. Here are three benefits that most employees look for before settling on a particular job.
- Medical Insurance
As an employer, this is the top benefit you can offer to attract the best employees. People feel safe when they know that their employer will take care of them if they fall ill. Most employees will check if the health insurance offered covers their immediate family. The cost of healthcare has been skyrocketing in recent years with the average cost being more than $10,000 per year in the last three years. Employers would, thus, readily accept a job offer that will promise to at least relieve them some of these medical costs. According to a survey by SHRM, about 95% of employees will choose a job that offers health insurance. Employees on average enjoy about $6,000 per year for individual coverage and up to about $18,000 for family coverage. Most appreciate this as it is better than nothing.
- Flexible Working Schedules
You will be surprised how many employees value this as opposed to having their salaries increased. According to a recent survey of American workers, 60% consider the benefits that come along with the job before accepting to work. An independent study by Fractl shows that more than 88% of employees were likely to choose a job that has a lower salary, but which offers flexible working hours. Harvard business review confirms that most people ask about working schedules after ascertaining about health insurance. This benefit is particularly important to parents and young people. Parents want free time to check and spend time with their children while young people are looking for time to socialize and complete their studies. Some companies do offer unlimited vacation times where employees can take time off if they feel they need to, as long as they are productive, while some allow their employees to work from home once in a while.
- Wellness Programs
Many people are now taking into consideration their wellbeing. People have come to the realization that the kind of life they live determines their wellness and health. It is no wonder that there are a lot of wellness and fitness clubs encouraging people to take time off their jobs and focus on their wellbeing and families. It is better to keep healthy than to wait and get treated when you are sick. About 88% of CEOs claim to have started some form of a wellness program. Some have gyms and fitness centers where employees are giving time off to attend. While this not possible for all business, at least you can offer your employees time to attend such classes such as yoga and meditation and even offer healthy snacks at work.