As a business owner in Indiana, you probably already know that finding, recruiting, and retaining great employees can be hard work! Indeed, it’s a competitive employment market, and with unemployment rates low, employees have many options when it comes to securing a great job. As such, finding ways to make your business more competitive is important. One option for attracting potential employees is to design and implement a robust employee benefit program. Here’s what you should know about how an employee benefit program can help businesses attract potential employees—
The first thing that you should understand is why employee benefits are so important. Employee benefits matter because employees want benefits. Data shows that companies that use benefits as a tool for recruiting report higher overall company performance. What’s more, about 60 percent of people say that benefits are a major consideration when deciding whether to get a job. And if that’s not enough, consider that 80 percent of employees say that they would choose additional benefits over a pay raise.
Once you understand the importance of employee benefits, the next thing to learn is the type of benefits that your employees may be looking for. Types of benefits that many employees report desiring include:
If you’re not sure what benefits your employees want or aren’t sure if they align with the above, it’s important to conduct a little research. By simply asking employees what they want, you can learn a lot about what will make them feel valued and what perks (like a free gym membership) are less important than foundational benefits (like healthcare).
If you know what your employees want, the next step is creating a customized benefit package that works with your budget and meets your employees’ needs. This is where a professional team comes in. At Harvest Wealth Partners, we can help your business to create a benefit package that checks all of the boxes. Once your employee benefit program is in place, all you have to do next is educate your employees and promote your plan to increase recruitment and retention!
To learn more about employee benefit programs and how creating a strong employee benefit program can help your business to attract potential employees, call us directly today. We look forward to working with you and your business.
Harvest Wealth Partners is committed to helping our clients work towards a successful future. We believe in your potential to understand the financial options that can lead you to your goals. Call us today to partner with our team. We look forward to continuing our mission for years to come.
You can submit your questions by filling out the following form.