Clarity Benefit Solutions, one of the leading HSA Companies, lists the top employee benefits that employers can use to attract the top talent in a tightened job market.
With unemployment at a historic low, the employment market is remarkably tight. In order to attract top talent, employers have started thinking outside the box, offering unconventional benefits. These benefits often promote a better work-life balance, address priority concerns for employees, and promote a better employee experience.
Here are the top trending voluntary benefits that are attracting top talent in a tight job market:
Student Loan Repayment Programs. Student debt affects more than half of the workforce. Especially for the millennial generation, paying off student loan debt is a top financial priority. Offering a student loan repayment program attracts top talent by showing potential employees that you understand and care about their needs while offering a way for them to achieve their financial goals.
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Telecommuting/Flexible Work Hours. A Harvard Business Review study found that almost 90% of people would put more consideration toward a job that offered a flexible schedule than one that did not. Flexible work hours let parents be more involved in childcare, hobbies, and other things that improve work-life balance. This also includes the ability to telecommute or work remotely. Many people are attracted to opportunities that let them work from home at least part-time. This can save them childcare costs, and the cost and time associated with commuting.
Health and Wellness Programs. A study conducted by Workforce Magazine revealed that 87% of job seekers consider wellness packages when job searching. That study also reported that 67% of employees whose employers offered wellness programs would recommend their employer to others. Health and wellness programs give your employees opportunities to live a healthier, more active life while improving workplace culture.
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Paid Time Off for Volunteering. As of 2018, almost a quarter of American adults did at least one volunteer activity. Volunteering is fulfilling and brings value to people’s lives, but they often don’t partake in large volunteer acts because it requires them to take off of work. Offering paid time off to volunteer shows potential employees that you value what is important to them and that you support their ventures outside of work.
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