Top Benefits for Job Seekers Today
“When employers no longer offer secure full-time employment with benefits, then it’s hard to expect employees to be loyal, engaged, and maximally productive.” — Stewart D. Friedman
Not only are we seeing a significant shift and restructuring of what a workplace looks like, the demands and desires from employees are changing with the times as well. We posted an article recently in which we shared that the top things job seekers are looking for right now are increased salary, job benefits, and career advancement opportunities. In this article, we will dive deeper into the top benefits for job seekers today.
There is a clear gap between what employers are offering and what employees are looking for. According to Clutch, about 23% of employees shared that they don’t receive any benefits at all from their employers. This is shocking since 92% of employees say this is an important factor in their overall job satisfaction, and 60% of employees said they would be willing to take a position that paid less but offered better benefits.
In 2019, before the world was devastated by a global pandemic, a company’s benefits offerings were pretty typical. According to the US Chamber of Commerce, the top job benefits in 2019 were health insurance, retirement plans, and paid time off. As you can guess, priorities have shifted as more people are working from home, taking care of family members, and concerned for their own immediate wellness.
According to Forbes, the top five workplace benefits on the rise in 2021 are:
- Childcare and family benefits
- Home office expenses
- Mental health support
- Remote work and flexible schedules
- Employee resource groups or support groups
A recent blog posted at Bernie Portal noted several benefits they foresaw increasing into 2022 as they interviewed HR professionals. According to their answers, the top four benefits they predict to become more important are:
- Mental health support
- Paid time off
- Full employer-paid healthcare
- Pet insurance
As you can see, one of the effects of the pandemic seems to be a priority shift. One thing noticeably missing from most lists of benefits is a 401K or savings plan. People are working from home and under a completely different stress than their normal office work life. Sitting in traffic and meeting deadlines used to be a big headache, but workers knew they were working towards a promotion or saving for a vacation or retirement in the future. Now they are dealing with isolation at home and a lack of normal social interaction. They realize more than ever the importance of spending time now with loved ones and friends. Their children, significant others, pets, and parents are top priority.
Keep Up With the Competition
Most of today’s workforce agrees, they prefer working remotely and plan to do so. Even if that means looking for another job that will allow them to do so. They also agree that taking care of your mental and physical health as well as being afforded the opportunity to spend more time with friends and family is of utmost importance.
Many companies are already making adjustments by figuring out how to allow remote work options and rethinking their benefits offerings. The companies that are doing this are going to be much more attractive to job seekers than those who don’t. Is your company struggling with employee retention or hiring? Consider the top benefits for job seekers today. Is your company reflecting those needs and desires? You might want to take a hard look at your policies on remote schedules and employee benefits to keep up with the competition.