Happy employees are more productive and give out better results. But an excellent salary is not the only factor workers chase when looking for a job – the benefits they receive have a bigger impact on their satisfaction. Benefits and compensation play a major role in a potential candidate’s decision to accept or reject a job offer.
If you want to discover the most proficient candidate to be onboard during the hiring process or boost your employees’ overall happiness, consider looking up the top employee benefits 2020 can offer. Having a good list of benefits can do wonders for your company, and here are some you should include in your package:
Paid Time Off (PTO)
As hardworking individuals, we want some time to take care of ourselves. From time to time, your employees need to care for their mental and physical well-being and quality of life to become more productive. If you want to assist them in improvingtheir work-life balance, give them paid time off.
While not mandated by law, you should offer paid time off to remain competitive against other businesses. These may include sick leaves, inner work days, personal days, company holidays, and vacation leaves. Your employees can have the opportunity to earn more paid time off based on the time they spent with the company, and in some cases, it is accrued over time and has monetary value.
In this digital age, many tasks can be performed online just as efficiently as in the office. Before the pandemic began, many companies offered remote working options for their employees to give them more energy. If your business has not thought of it yet, consider allowing your staff to work from home. According to a recent study from Harvard Business Review, remote workers are more productive than their on-site counterparts since they are less likely to take time off and quit.
Giving your employees a chance to work from home allows them to feel in control of their surroundings, boosting their energy and giving them increased creativity. They are more satisfied, thus maintaining a high level of productivity.
Promoting a healthy lifestyle and reducing disease benefits employees and your company. With fewer workers getting sick and reduced anxiety over medical bills, your team can focus on contributing to the growth of your business. Offering your employees health benefits is a must since some types may be mandated by law.
Medical insurance may come in bundles, including health, vision, and dental insurance. You should also offer disability insurance, life insurance, flexible spending accounts (FSA), health savings accounts (HAS), and, if possible, discounts on prescription drugs. You can also begin wellness programs and clinical services for a more competitive benefits package.
But putting together an effective and competitive health benefits package can be costly on the employer’s side. As a business owner, you want to capture employee satisfaction for your company’s growth, but how do you create the best package without spending too much?
Schedule a conversation with Founder and CEO Donovan Pyle from Health Compass to help you discover ways toimprove your benefit investment return significantly.