The abundance of job opportunities and the lack of manpower often encourage job seekers to carefully select their new career. They will then examine the work environment, the facilities, and especially the benefits available to them. So, what are the winning benefits and how do they work?
How to describe the benefits?
Benefits are actually added value to an employee’s base salary. These may be physical elements in the workplace or intangible elements such as, for example, insurance.
Benefit programs can include different aspects, such as:
- Paid vacation
- Organisation of working time
- Group insurance covering disability, drugs and dental care
- In retirement savings plan
- A refund of tuition fees
- A health and wellness program
The programs offered may vary depending on the nature of the job, the employer or the employment contract. However, it is advisable to opt for intangible aspects such as group insurance that offers employees personalized choices that allow them to fulfill their financial responsibilities and protect them and their families.
Element of differentiation for employers
Since benefits are often considered a surplus in addition to base salaries, they are seriously considered by candidates. In a recruitment period, benefits can play a crucial role in positioning a company in the selection of candidates. In addition to providing a conscientious image to executives and bringing in new talent, benefits enhance the productivity of employees who are already part of the team. Also, the implementation of solid programs reduces their absenteeism rate. Benefits often retain employees in the workplace and encourage them to stay.
How do I set up a benefits program?
In order to develop an effective program that is tailored to the needs of employees, companies consider data collected internally from claims made to insurers and demographic data from the group and industry. As well, companies build programs that respect their mission and values. Indeed, what is offered must be in synergy with the corporate culture.
To make an informed choice about the benefit options to target and to learn more about our services available for businesses and human resources, contact us today!