What Benefits are Employees Looking for in 2020?
- March 24, 2020
In an increasingly competitive employment market, employers must keep up-to-date with the compensation, perks and benefits that the best talent is looking for, or risk losing them to your competitors.
I speak to candidates daily, and I hear the same incentives that are driving candidates away from specific workplaces and into others.
In this blog, I will share what the most talented candidates are looking for in their new employers right now – are you offering these incentives?
Flexible Work Schedules
We have seen a decrease in the typical 9-5 working schedule for some years now, with flexi-time gaining popularity in the ‘90s through to the present day.
But increasingly, employees are looking for even more flexibility from their employers.
Employees today – and especially millennial employees who now make up the majority of workplaces – want schedules that are flexible to their personal needs.
This is different to flexitime, as instead of being able to come into work anytime between 7-10 am and leave between 3-7 pm, they might ask for flexibility at other times. For example, a half-day finish when they have an appointment and be able to make the time up somewhere else or to come in later on days when they have to take their child to playgroup when their partner is busy.
As well as a flexible working arrangement, another popular demand among employees is a compressed working week – let me explain how this works.
Compressed Work Week
A compressed working schedule allows employees to work full time, putting in more of their hours on the days they choose, and allowing them to take time off elsewhere. For example, an employee might want to work four 10 hour days and have Fridays off.
Employees love this perk, as it allows them to have a better work-life balance, and studies show that working non-regular office hours improves productivity. Employees are more focused on their tasks, they have fewer interruptions, and it reduces fatigue which causes productivity and quality of work to slip.
We’re all living longer, and with government pensions not as reliable as they once were, employees are looking to their employers to provide them with an excellent pension scheme.
Employees highly value an employer who invests in an excellent pension scheme for them – it shows that they are invested in their future.
Working with a workplace pension provider to ensure that your employees are given a good rate on their pensions and that they can have as much or as little input as they want in the matter is a highly desirable bonus to many employees.
Depending on the type of your workplace, there will be a range of amenities that you can provide for employees.
If your organisation is based somewhere away from shops and other conveniences, can you provide food for employees?
Some larger organisations can provide gyms, which is seen as one of the most sought-after perks; of course, this is not always possible and will depend on your size and budget. A good alternative is a chill-out zone, where employees can take time out to de-stress or have a quiet 5 minutes.
Even something as small as making your workspace bright, with plenty of natural light and indoor plants can make workplaces much more appealing to candidates.
Your goal should be to provide a workspace that your employees look forward to coming to, where they feel that they can thrive and work towards the shared goal of being healthy and happy.
Creating a positive place to work for your employees contributes to their overall wellbeing, which in turn increases productivity – it’s a win-win!
Finally, a great way to boost morale and give employees a little something that everyone enjoys – free social events!
The solitary annual Christmas party doesn’t cut it anymore – many workplaces provide events for their employees throughout the year, and this is has become the mark of a great employer.
It doesn’t have to be monthly away-days at outdoor pursuit facilities; something as low-key as a shared team breakfast every few weeks, or making sure you celebrate birthdays in the office, makes team members feel valued.
Not only this, but research shows that employees who spend time together form stronger bonds which enables them to work better as a team when they are at work.
How many of these benefits do you currently provide, in one form or another, to attract and retain the best employees?
The smartest organisations are always on the lookout for the most talented employees, and so attraction and retention should be something you are actively monitoring.
Hopefully, this article will have given you some inspiration on how you can make changes to transform your organisation into a talent magnet.
If you need further help or advice on how to recruit top employees, we can help. We work with organisations in the North West to help them find the talent they need to drive their business forwards – get in contact with us today to find out more.
About Clayton Recruitment
Clayton Recruitment has been partnering with organisations across the country since 1989, and during that time has built up an excellent reputation for trust and reliability.
With specialist divisions covering Commercial, Financial, Industrial, and Engineering appointments, on both a permanent and temporary basis. If you are looking for your next career move, we can help. Call us on 01772 259 121 or email us here.