Creative Benefits to Engage, Motivate, and Retain
Attracting and retaining top talent is a formidable and never-ending challenge for business leaders (newsflash, right?). Beyond salaries, benefits can play a crucial role here, but few companies have met this challenge with creative solutions. Most employers still boast of their "competitive benefits" offerings, which usually amount to a standard package of health, dental and vision insurance, some paid vacation, a modest life insurance policy and–if the employer is feeling generous–a matching 401k plan. That's "comparable" not "competitive."
Benefits need to be perceived as strategic to an organization. The fact of the matter is that employers who continue to offer the same old benefits package will fall behind in attracting, motivating and retaining the best.
In this article, I'll present a few creative benefits ideas that the everyday business leader can offer to attract, motivate, and engage – and do so without breaking the bank. I'll also suggest some strategies for selling and implementing these ideas in your company.
Benefits Are More Than Just CompensationMany employees once drew a solid line between work and their personal lives, but these lines are now blurring. Today, workers are seeking more work/life balance, making wellness a higher priority, and finding value in the ability to choose the specific benefits that best meet their needs at this point in their lives. But according to James Berkeley, Director of Berkeley Burke International , "The decisions made regarding what benefits to offer are often based on subjective viewpoints, viewpoints that are far removed from the actual needs of employees." If you really want to know what your employees want, don't guess–ask them! In the meantime, here are a few creative ideas worth considering:
Promoting Healthy Living and Wellness. Healthy living and wellness programs are a great way for employers to go beyond the basics and actively improve employees' lifestyles. At Software Advice, our kitchen is stocked with healthy snacks (e.g. filtered water, fresh fruit and veggies, protein and granola bars, etc.). And the simple gesture of providing an alternative to chips and sodas is incredibly valuable. The kicker? It only costs about $200 a year per employee.
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Most employers still boast of their "competitive benefits" offerings, which usually amount to a standard package of health, dental and vision insurance, some paid vacation, a modest life insurance policy and–if the employer is feeling generous–a
