If you're an employer or involved in the hiring process at your business, you're probably sick of hearing about "the great resignation" and how hard it is to find new employees. However, it is a fact that the hiring landscape isn't what it used to be. If you're going to find success in attracting and retaining hires, you will have to reexamine your benefits for employees.
However, many businesses feel like they're throwing anything at the wall to see what sticks when it comes to employee benefits. From foosball tables to craft beer, everyone is trying to find benefits that work. But what do the employees themselves really want? Let's find out.
Why Benefits Matter
It's easy to see benefits as simply an "added bonus." And it is true that when looking for new jobs, most employees are mainly looking at the salary.
But that's not the whole picture. When employees say salary matters the most, they aren't talking about the initial salary. Instead, they simply want a salary that can grow with them across their careers and lives. Employee benefits thus serve an essential role, demonstrating that there are immediate benefits for signing on. Therefore, benefits for employees need to provide a tangible improvement to their lives.
What Benefits Do Employees Want?
It seems that employees are a hard bunch to impress. Some employees might be attracted by the little perks of the workplace, but generally, these aren't the big hits. They're just not universal. Free gym membership will be great for some employees. But for employees who aren't health nuts, or have their own favorite gym, is this really adding anything for them? The same goes for things like free food. It's a scattershot approach. You'll hit some employees with your arrows of love, but it's a gamble.
Time is much more valuable to employees. Flexible working hours, paid time off and parental leave are generally popular. Every employee has things in their life outside of work. The more time off they have, the more time they have to be well-rounded human beings.
However, if there's a clear way to employees' hearts, it has to be insurance. In nearly any list you'll find that discusses what employees are looking for, insurance will be up there.
This makes sense. People want the comfort of knowing that insurance costs are covered but are often wary of spending money on picking them up themselves. Generally, health insurance comes first to mind when dealing with benefits for employees. However, providing the option for pet wellness is also something you should consider.
Why Pet Wellness Matters
There's a reason pet healthcare and wellness are considered the "next big thing" in employee benefits. Regular coverage is popular because it helps employees take some of the worries and stress off of an already stressful time. If you or your dependant has a health concern, you don't want to also be worrying about finding the money for coverage. If you are trying to improve your health and wellness, you don't want to be forced to compromise your budget.
The exact same thing goes for pet wellness. For many of your employees, their pets will be one of the most essential things in their lives. By giving them wellness coverage, you're giving them peace of mind. And what's a better benefit than that?
At Wagmo, we help businesses establish pet wellness programs. Through this, Wagmo helps your employees cover the everyday parts of pet wellness.