We’ve talked a lot in the past few blogs about the importance of selling candidates on opportunities at your company, but that’s often easier said than done if you don’t know what candidates want. As markets change and new generations take their places in the workforce, expectations for employers change—and it can be hard to keep up. To help you out, we’ve broken down many benefits and perks today’s candidates are looking for when seeking new opportunities.
How important are benefits?
While only 10 percent of employees said benefits are the most important factor when accepting or rejecting job offers, 80 percent said they would take a job with good benefits over one with more money and 55 percent said they would accept a job with lower pay if there were better benefits. Benefits are vital for recruitment and retention, and by keeping track of the benefits candidates are interested in, you can set your business above the rest.
The benefits candidates want
Candidates value many things in the workplace. Competitive pay immediately comes to mind, but these days, the additional benefits and perks are even more important than financial gain.
Regarding traditional benefits, 88 percent of workers say health benefits are important to them. These benefits can include medical, dental, vision or any other health-based benefit or perk. However, only 44 percent of employers actually offer these benefits. That number is even lower when it comes to mental health benefits. Only 15 percent of employers offer these benefits to their employees.
Paid time off and paid parental leave are also cited as key factors to employees looking for opportunities. We all know how important it can be to take a few days off to take care of personal or family business or just get away from the office, but unfortunately, only 36 percent of employers offer paid time off and only 13 percent offer paid parental leave. These benefits, including the opportunity for flexible schedules, are especially beneficial for those with children or other personal responsibilities.
Additional benefits candidates look for are bonuses. Just over 40 percent of employers ranked bonuses (especially holiday bonuses) as a preferred perk. Sign-on and retention bonuses can also encourage candidates to accept your offer and continue to perform above expectations for years to come.
Recruiting and keeping employees can be hard when you don’t understand what they want. At The James Allen Companies, we stay up-to-date on market trends so we always know what candidates need. By partnering with The James Allen Companies, we will help you identify the right candidates for your business and help you identify the benefits you need to get those candidates on board. Give us a call today to talk with a recruiter about attracting and retaining the candidates you need to help your business grow.