Human resource professionals have a lot to consider when designing employee benefits packages, including health coverage, payment bonuses, PTO, retirement, and child and family benefits, among others. These wide-ranging needs can make it difficult to create benefits packages that accommodate all your employees’ needs, but that doesn’t mean you shouldn’t continue striving to create an employee-centric environment that provides your staff with the benefits they need to ensure their happiness and success at home and on the job. This will help your current staff thrive while also enabling you to attract and retain outstanding talent for your business.
What Are Employees Looking for in Their Benefits Packages?
Most people will tell you that the ultimate deciding factor in whether or not to accept a job offer is the salary structure. However, employee benefits packages are firmly fixed at a not-so-distant second in the pecking order, especially for younger individuals with families, those who want to invest and save for retirement, and individuals who are considering a move from their current employer to come work for your business. Depending on the position, benefits can add roughly 30% to 40% to an employee’s base salary, so it’s important that you carefully manage your company’s benefits packages to get the most bang for your buck.
There are certain benefits that employers are required to provide their employees by law, including: