Does Your Benefits Package Make the Grade?
By Greg Simpson on March 19, 2013
An organization’s benefits plan acts as a magnet for top-notch candidates and as an incentive to retain employees. Therefore, it’s important to remain current on what other organizations are offering and consider adding some non-traditional benefits to the mix.
The standard benefits package of health insurance and vacation time is no longer competitive. A survey of Fortune’s 2013 list of the “Best Companies to Work For” reveals the wide range of innovative employee benefits your top competition is offering. It’s not surprising that the Society for Human Resource Management (SHRM) has identified increased “emphasis on non-traditional workplace benefits” one of the top HR issues of 2013.
Here’s a partial list of mutually-beneficial offerings provided by many of the country’s top employers:
Health and Wellness Programs
- Smoking cessation and “brown-bag” lunch seminars on health-related topics
- Free on-site fitness centers, trainers, and massages; paid fitness facility memberships
- Activity rooms (pool, ping pong video games, etc.)
- Flex time, job sharing and/or telecommuting
- On-site car wash, drycleaning and hair salons
- Free child care, on-site child care, discounts on day care, sick child center
- Elder care assistance and caregiver counseling
- In-house mentoring programs
- Tuition reimbursement for college seminars and classes
- Individualized career planning and development
- Professional association conference or seminar attendance; professional association membership fees
- Paid sabbaticals; time off for community volunteer work
The above list is just a small sampling of the myriad benefits progressive organizations are offering employees as part of their overall talent management strategy. While your company doesn’t need to be Google, are your benefits better than “good enough” to recruit and retain top talent in today’s competitive job market?
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