Beyond The Paycheck: Benefits Matter

Job seekers still have opportunities despite market changes and a slowdown in job creation.  Flexible scheduling and innovative benefits are key attractors.  That’s because pandemic-era professionals got used to managing their home and work responsibilities simultaneously.   We need to recognize that values have changed; people want to “work to live”, not “live to work”. Employers who adapt and offer flexible and holistic benefits will attract the best talent.  The right benefits choices can meet employee needs without breaking the bank. Here are some possibilities.

1.  Flexibility Matters:  If your employee is getting the work done, it costs you nothing to allow them to take a half-day off to attend a school concert or leave early to take care of a personal responsibility. Showing grace and support goes a long way, helping your workforce to feel valued and cared for.

2.  Condensed Work Week:  Many companies are offering a 4 day work week, reduced hours of 35/week or half-day Fridays. Studies show this helps boost morale, improve employee work/life balance and lower turnover rates.

3.  Celebrate Individuality:  Comfortable dress codes and furry friend days are no-cost options that can foster a positive work culture.

4.  Tailored Options:  From paid gym memberships to childcare support and comprehensive pet insurance, diverse benefit options cater to unique demands.

5.  Increased PTO/Vacation:  European-style PTO models offer substantial amounts of vacation time.  Consider offering more PTO on an accelerated scale.  This can ensure you meet the expectations of top talent without sacrificing productivity.

6.  Tuition Reimbursement:  Investing in your employees’ education is a mutually beneficial strategy that enhances skills and loyalty.  A degree completion offering is a plus!

7.  Health and Wellness Benefits:  Comprehensive healthcare packages with mental health support are crucial for those seeking stability for themselves and their families.

8.  Retirement Planning Assistance: Offering a company-sponsored retirement plan, pension, or profit sharing program helps employees alleviate concerns about their future.

These employee benefits, ranging from fitness perks to tuition reimbursement, are powerful tools to attract and retain talent, enhance productivity, lift morale, and convey a sense of value to employees.

You can read the write-up in the Worcester Business Journal here.