24 Jul Do you know what your employees want?
It doesn’t matter if a company makes car parts or coffee—its most valuable asset is always its people. A business should invest as much, if not more, in its employees as it does in equipment or other operating necessities. It also means implementing benefits employees both want and need.
But which benefits are most important to today’s workers? The list of ideal benefits varies by industry, but some are more important than others in promoting a supportive, productive work environment.
The following is a list of six benefits every employer should consider when shaping or updating their company’s culture and employee benefits.
Flexible Work Arrangements
In the wake of the pandemic, more people than ever are working remotely—and want to stay that way. Non-traditional schedules and environments have become the norm, and many people are hesitant, or unwilling, to work for employers who demand a rigid, on-location 8 to 5.
A few flexible work options include:
- Work-from-home or remote: An employee works part- or full-time at a remote location, usually their home.
- Flex time: Employees may arrive at, and leave, the office when they like as long as they fulfill the requisite number of hours per day or week.
- Compressed schedule: An individual works more hours per day, but fewer days per week—usually 10 hours per day for four days.
Work-life Balance
Work-life balance allows employees to separate their work lives from their personal lives, so they have a chance to prioritize their responsibilities in both areas. Facilitating work-life balance is one of the most important things employers can do to help employees avoid burnout.
Benefits such as paid time off (vacation, sick leave, parental leave), sabbaticals, and family-friendly policies can help employees in managing their personal obligations and foster a positive work environment.
Comprehensive Health Insurance
Offering the right insurance can mean the difference between securing a great candidate and losing him or her to the competition. It’s also in the best interest of a company. The point of medical insurance is to support employees’ health and wellbeing, so they don’t need to miss work, or become less productive due to injury. Access to medical, dental and vision insurance provides peace of mind for employees and their families.
Read our blog post on the benefits of offering health insurance to employees for more information.
Anti-Harassment and Inclusion
It goes without saying that employees want to work in an environment that encourages authenticity and a culture of respect. Equal opportunity prevents employers from mistreating employees or job candidates based on age, culture, ethnicity, gender, religion or other personal attributes. This policy is critical for everyone working at a company because it promotes fair treatment of all individuals by all individuals.
Professional Development and Training
Offering opportunities for professional growth is another way to show a company’s investment in its employees. Training programs, workshops, conferences, mentoring and other options increase workers’ expertise and in turn make them more productive and competent at their jobs.
Retirement Security
Many employees seek out companies that provide income security even after retirement.
Retirement benefits such as 401(k) plans or pension schemes are highly valued by employees. These plans help individuals save for their future and provide financial security in their post-employment years.
Bottom Line
Employees need to know what to expect of themselves and others and feel confident that their workplace has their best interests in mind. The key to being a good employer is listening to the people who work there. It’s critical to offer benefits workers really use, and that they understand how to take advantage of these benefits. Knowing how to adapt to the current workforce’s needs will allow a business to select the benefits employees will appreciate most, and will foster an environment of trust, communication, and productivity.
Sources
https://www.indeed.com/career-advice/career-development/workplace-policy-examples
https://www.powerdms.com/policy-learning-center/10-workplace-policies-your-organization-needs