With the majority of employers out there offering benefits, not offering them can put your business at a disadvantage and make it harder to attract and retain top talent. If you want to remain competitive in the marketplace, you should start offering what your people are looking for.
5 Reasons You Should Offer Employee Benefits
As an employer, you may be wondering why you should offer employee benefits. Since they can be costly and time-consuming to administer. However, investing in and providing benefits to your employees can have significant benefits for both you and your employees. Here are some reasons why you should consider offering employee benefits:
Attract & Retain Top Talent
Offering benefits can help you attract and retain top talent. According to a survey by Glassdoor, 60% of job seekers consider benefits and perks to be a major factor when considering job offers. Additionally, a survey by the Society for Human Resource Management found that 92% of employees rated benefits as important to their overall job satisfaction.
Increase Employee Engagement & Productivity
Employee benefits can also help to increase employee engagement and productivity. A study by MetLife found that employees who are satisfied with their benefits are more likely to be engaged at work, which can lead to higher productivity and better business outcomes.
Improve Employee Health & Wellness
Many employee benefits, such as health insurance and wellness programs, can help to improve employee health and wellness. This can lead to lower healthcare costs, fewer sick days, and increased employee morale.
Boost Company Culture
Offering employee benefits can also help to boost company culture. When employees feel valued and supported, they are more likely to have a positive view of their employer and feel more connected to their coworkers.
Remain Competitive in the Marketplace
Finally, offering benefits can help you remain competitive in the marketplace. According to a survey by the International Foundation of Employee Benefit Plans, 80% of employers offer benefits to attract and retain employees, and 91% of employers believe that benefits are important for employee recruitment and retention.
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Amanee Hasan
Amanee Hasan is a Senior Content Writer at ZenHR, an award-winning and top-rated HR solution that offers world-class HR software services in the MENA region. Her main focuses are SEO, UX writing, copywriting, and creating content highlighting the latest HR trends, and gives organizations and individuals the tools they need to create successful work environments where people thrive.
