Employers know that to compete for and to retain top talent, they need to offer a great benefits package to employees. When evaluating jobs, applicants don’t just take salary into consideration. They also put a significant amount of weight on the benefits package when weighing one position versus another. There are many types of fringe benefits a company can offer and employee benefit program differences that can be tailored to the needs and culture of the organization.
Most companies will offer the following basic benefits.
- Medical and dental
- Life insurance
- Disability insurance
Then there are other benefits that help differentiate your organization from another in the overall fringe benefit program offering. These perks allow a company to get creative and show the culture of the organization.
- Tuition reimbursement
- Commuter benefits
- Wellness programs
- Employee assistance programs (EAPs)
- Stock purchase plans
- Food and beverage perks
And the list can go on and on. Different perks speak to different employees and/or applicants. Innovative companies concentrate on offering a variety of benefits that demonstrates how much they value their employees both in their personal and in their professional lives. A quality benefits program will go a long way toward employee happiness and well-being. Benefits offerings are also a key driver in employee engagement and retention.