According to the inspirational speaker and bestseller of ‘The start of Why’ and ‘The Infinite Game’, “When people are financially invested, they want a return. When people are emotionally invested, they want to contribute.”
In other words, employees work hard and put in their efforts, not just for the monetary compensation but also want to know what you bring to the table.
In this article, we will be discussing what employee benefits should an employee look for when searching for their next best career opportunity.
Top 13 Employee Benefits you should look before you get hired
The term ‘employee benefits’ can mean a lot of things.
Before getting hired, you must analyze the top employee benefits. In the long run, scarce or fragile employee benefits can make your life very susceptible when you need emergency paid time off or parental leaves.
Let’s check the top 13 employee benefits that you should look out for when you are searching for a job.
#1 Rewards and recognition
Reward and recognition are the constant measures to enhance motivation and engagement towards achieving targets.
Employers can reward their employees by implementing a recognition program using a well-known recognition platform like Perkbox.
According to Perkbox, 66% of employees believe rewards would increase loyalty.
The HR team can reward their employees with gift cards, company swag, local rewards, and a non-profit cause.
Employers can also provide recognition to fellow employees under the supervision of a manager so that managers can also send gift cards to their best co-working employees.
Before choosing a company, make sure your organization has an individual employee reward system and an active recognition platform.
#2 Attractive career pages
Suppose you are searching for a job for yourself and suddenly you have found a highly attractive career page, then without applying, you can’t leave the site.
If you want to analyze attractive career pages for the top organizations, you can click here to advance your knowledge. A superbly built career page can yield an everlasting impact on candidates about the organization’s reputation and work culture.
Job seekers perform many activities before applying to a company, including reviewing company social media pages, recruitment portal reviews, company websites, and career pages. Candidates can’t easily settle with a site with a simple outline of ‘work with us.’ They need a superb design with many employee benefits and employee recognition features.
#3 Donation matching program
Donation matching is designed so that employees’ small contributions look greater and have an impressive impact on employees’ minds.
Employers can make an ardent request to employees for matching gifts to maximize the employees’ donation potential. The matching donations will be highly efficient for non-profit organizations. In addition, it will encourage employees to donate more towards corporate giving programs.
Matching gifts or donations are not limited to monetary values, but they can also donate food, clothes, and toys to the organization. In addition, non-profit organizations can launch it as cause-driven donations to their employees.
If you want to work in a non-profit organization, ensure your organization has a financial matching donation feature for its employees.
#4 Candidate evaluation tool
How often have you shut down your system because you have found a bad user experience while giving a candidate assessment test?
For example, if a candidate finds the assessment tool highly complicated, they will immediately make a negative sentiment towards the applying organization.
Candidate assessment tools can provide a quick assessment, and employers can shortlist prospective employees.
Before enabling a candidate assessment tool, analyze and test it wisely whether it will give sound results or proof worthy for the expectation of candidates. Employees always consider a minimalistic and straightforward designed candidate assessment tool.
#5 Employee referral program
An employee referral program is an important asset for the organization where current employees are actively searching for their network to provide qualified talents to the organization.
Employees feel valued and trusted in contributing to the recruitment process. In addition, referred employees can quickly assimilate the company culture because they have already understood a lot from their mentors.
The employee referral program can enhance employee engagement and increase the organizational network. Organizations get benefitted from augmented recruitment quality, reduced hiring time and costs. Always work in a company with an existing healthy employee referral program.
#6 Retirement benefits
401 (K) is an employer-sponsored retirement plan where employees can withdraw the funds after reaching the age of 59 ½ years. It is the best retirement plan for US employees because the 401 (k) amount is not taxable.
Suppose you earn $40,000 annually and contribute $4,000 every year to the employer’s 401(k) plan on a pretax basis. It means your taxable income is $36,000, and you are not taxed on your contributing amount of $4000. Make sure your employer must have a well-designed 401(k) retirement benefit plan before finalizing any company for onboarding.
#7 Health insurance
According to SHRM, 46 percent of employees said health insurance is the deciding factor to either stay in the current job or select a new job.
A significant proportion of employees seek health insurance as a critical feature for a job. Company-sponsored health insurance coverage can make their employees healthy with enhanced employee satisfaction and engagement.
Check the health insurance plan properly, whether it’s a group health insurance plan or a customized health insurance plan. Younger generations want more flexibility, convenience, and personalization when choosing a health plan.
On the other hand, aged people need a robust health plan to meet their expensive medical checkups and consultations.
#8 Life Insurance
Employers must include robust nondiscriminatory group-term life insurance benefits to all employees.
Compared to individual or option life insurance benefits, nondiscriminatory group-term life insurance is equal to all employees irrespective of marital status, job duties, compensation, length of service, and other employment-related factors.
Sometimes employers want to give life insurance benefits only to full-time employees and term-life insurance to remote or part-time workers. Wisely select which type of life insurance benefit you will need optional term-life insurance or nondiscriminatory group-term life insurance.
If you have already taken a personal life insurance plan, you can consider your employers’ optional life insurance plan.
#9 Disability insurance
Disability insurance benefits help you get a partial wage replacement if you become ill or disabled.
Disability insurance benefits are different from workers’ compensation insurance because workers’ compensation benefits will cover you only during an accident during working hours.
However, disability insurance benefits will cover personal accidental and sick benefits with a partial wage replacement.
Employers will ask you to sign the form before considering disability insurance. A sizable portion of the money will be cut from your monthly paycheck, and it can’t give you a tax benefit.
Some companies provide both short-term and long-term disability insurance benefits to employees. Short-term disability insurance ends from 7 to 14 days, while long-term disability benefits end from 9 to 52 weeks. Therefore, it is wiser to take a long-term disability insurance benefit than short-term disability benefits.
#10 Dental and vision insurance
Employers can effectively add productive days by including dental and vision insurance benefits to their employee-benefit package.
According to Ameritas, 85% of people use digital devices for their work, and they often have problems with digital eye strain, dried eyes, vision discomfort, and eye pain.
Constant eye checks can save employees from severe eye damage or malfunctions.
A regular dental examination can save employees’ dental health and productive hours.
In addition, sound dental and vision insurance benefits give employees significant relief from the additional burden of expenses in terms of eye and dental routine checkups.
#11 Paid parental leave
Paid parental leave is employees’ top priority because they want to be safe from financial freedom. Earlier companies gave parental leave without pay based on the family medical leave act (FMLA), 1993.
However, most companies are currently providing separate paid maternity leave and paternity leave.
Most of the time, working fathers are worried that if they spend maximum time with their kids, their job might be shelved.
Unfortunately, some companies only have paid maternity leave policy, and there is no paid paternity leave for fathers. Make sure your prospective company has a robust parental leave policy that can give both paid maternity and paternity leave.
#12 Paid Time Off (PTO)
Do you make it a point to check with your prospective employer about the number of PTOs the employees are entitled to in the organization?
PTOs can save you from excessive burnout and spend quality time with friends and families. Whenever you are looking for PTO, make sure you have received variations of PTOs like sick leave, vacation leave, personal leave, personal leave, casual leave, bereavement leave, and optional leave.
Sometimes you are fascinated about looking at quality PTOs, but you might be troubled when the company will give you PTO only for sick leave, not for vacation or personal leave. Suppose your company offers 20 leaves per year—5 vacation leave days + 5 casual leave days + 6 sick leave days + 2 bereavement leave days + 2 personal leave days.
#13 Flexible working options
Have you heard of remote work, work-from-home, flexible, and hybrid jobs a lot after the pandemic?
Pandemic has set a global movement for employees to ask for a better work-life balance.
According to Gallup, around 60% of the work-from-home US employees want to continue their work from home even after the pandemic subsides.
Remote work ends the geographical constraints and encompasses augmented inclusivity, diversity, and exposure to different cultures.
Employees can save money from transportation, and they can improve their lifestyles. It will ultimately enhance the work productivity of organizations. Before onboarding, always ask HR managers about the number of days in a year given for remote work opportunities.
The benefits mentioned above have opened your eyes towards availing top employee benefits.
Do you think we have missed out on any key employee benefits?
Comment down in the section below —we would love to hear that.
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