Life would be simple if hiring the best people were only a matter of offering competitive pay. Incentive Magazine revealed employee benefits are more valuable than ever - according to MetLife's 10th annual study of employee benefits trends, there is a strong relationship between satisfaction with benefits and overall job satisfaction. In today's tight talent market, employers have to claim a unique position for their brand if they want to snag the top-tier candidates. Here are five compelling perks your business can use to make all your job openings magnetic.
1. Unlimited vacation
As achievement is increasingly measured by output rather than hours, work schedules are becoming less relevant. Remote working means a revolutionary new approach to accountability; employees may prefer working in the middle of the night or from a seaside cafe on another continent. Workers in the era of unlimited vacation are in some ways more connected to their jobs than ever before while also being free as birds.
2. Endless food
The days of packing lunches from home are ancient history in today's most progressive organizations. Whether it's the catered meals and stocked kitchens of SquareSpace, the fun lunches of Warby Parker, or the personalized birthday boxes offered by Stack Exchange, today's work culture is all about great food. Even smaller companies keep their employees' energy up by providing healthy high-protein snacks by the coffee maker.
3. On-site health support
Your company's well-being relies on healthy employees, so why not invest in their health if you have the chance? This philosophy may take the form of on-site medical clinics, fitness centers, or bowling alleys - or it may include offering free gym memberships. Regardless of how fancy the facilities are the goal remains the same. Get employees up and moving around if you want to keep them engaged and energized for the long-term.
4. Unbeatable employee referral programs
Plenty of organizations offer plain vanilla employee referral programs, but if you want to be noticed for your policies, the trick is to pay attention to best practices. Serve up those referral bonuses promptly and be willing to reward outside your own organization. Nudge your staff several times a year to be on the lookout for new team members and change up the bonuses regularly. There's no better way to build stability in your organization than by maintaining an effective employee referral program.
5. Rewards and recognition
Finally, employee recognition programs both attract employees and keep them engaged, as Ericsson's E-Star program demonstrates. This company's monetary and social recognitions program has a broad approach, with numerous benefits and perks, including a referral program, digital gift cards, mobile app capabilities and much more. These recognition all-stars do it all with style, building employee commitment by providing a positive work environment.
Download our Achievers Culture eBook today and learn more about how these perks can fit into your company's strategy for building and boosting employee engagement.