12 Employee Benefits and Perks for Your Hiring and Retention Plan

12 Employee Benefits and Perks for Your Hiring and Retention Plan

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6 most-desirable benefits for employees

The terms “perks” and “benefits” are sometimes used interchangeably, but for our purposes, benefits for employees are generally a form of non-cash compensation that cover basic needs. If not offered by the employer, employees would likely have to fund them on their own. Health insurance — After salary, this staple benefit is of the 

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6 most-desirable benefits for employees

utmost importance to many job candidates and typically includes medical coverage for employees and their families. In a Robert Half survey of more than 1,000 candidates in the United States, 76% of respondents ranked health insurance as an essential benefit. Paid time off — Whether it’s for vacation, illness or 

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6 most-desirable benefits for employees

bereavement, paid time off (PTO) is highly valued by employees and a great way to combat employee burnout.  In the survey, almost 6 in 10 (57%) employees placed it in their top three desired benefits. Two weeks is standard for new hires, but three or more weeks of PTO can be hard for many candidates to pass up.

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6 most-desirable benefits for employees

Retirement savings plans — A popular benefit with just over half (51%) of respondents, a tax-advantaged 401(k) plan can be an excellent way to attract candidates. Offering to match contributions up to a certain amount is a big plus for workers and can encourage them to stick with your firm. Dental insurance — What’s most important isn’t always 

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6 most-desirable benefits for employees

the most exciting, as evidenced by dental insurance being named a top three benefit by 26% of those polled. Life and AD&D insurance — Life insurance and accidental death and dismemberment insurance (AD&D) are important to employees looking to feel some reassurance about protecting their families.

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6 most-desirable benefits for employees

Vision insurance — Glasses, contacts and eye exams can be a costly expense to those who need them, so it’s no surprise that vision insurance rounds out the six most-wanted benefits in our survey.

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6 perks at work employees want most

Perks — as in perquisites or corporate perks — are nice-to-have additions to an employee’s salary and benefits package. We define perks at work as above-and-beyond offerings that may sway an employee to value one employer over another. Think of them as icing on the cake. Flexible work schedules — Two-thirds of survey 

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6 perks at work employees want most

respondents value being able to choose their own schedule (within reason). This typically means a compressed workweek (e.g., four 10-hour days) or flextime, where employees can choose to work, say, 10 a.m. to 7 p.m. rather than an 8-to-5 schedule.  In the wake of the pandemic, with many teams still working remotely, companies are also 

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6 perks at work employees want most

promoting windowed work where employees break down their workday into non-consecutive chunks of time 8 a.m. to noon and 4 p.m. to 8 p.m., for example — to manage their professional and personal obligations. Remote work options — Due to the COVID-19 pandemic, working remotely has become the norm for many companies.

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6 perks at work employees want most

And employees reported they want this work option to continue. Employee discounts — Employees love getting company-exclusive discounts. In fact, 37% of survey respondents name company-exclusive discounts on big-ticket purchases like cars, homes and smartphones among their most-wanted

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6 perks at work employees want most

perks. If that’s beyond your reach, consider what your budget can afford. Even a discount at the local coffee chain can be a beloved perk. Paid parental leave — Employees want to know they can still earn a wage and pursue career goals while caring for a newborn or newly adopted child. Highlighted by 27% of survey respondents, 

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6 perks at work employees want most

this is a benefit with broad appeal. Companies that offer paid parental leave will likely gain points with top performers who may plan to become a parent — again or for the first time — in the future. Company-subsidized meals or snacks Organizations that help employees refuel during the workday get a thumbs-up from 24% of those polled.

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6 perks at work employees want most

Offering remote workers home meal deliveries or grocery stipends could be a great way to differentiate yourself from your competitors. PTO for volunteering — Also known as VTO (volunteer time off), this perk gives employees the opportunity to help others without dipping into their PTO. Offering this perk will resonate among employees and job 

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6 perks at work employees want most

seekers who want to work for a socially responsible company.

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