A key focus of my blog is Career Discussions. While we often weight our salary as the most important part of our jobs, there are many other things to consider. In some instances, there are other benefits to the position that can offset a non-competitive salary. The following contributed post is entitled, 9 Employee Benefits That Can Make Up For A Non-Competitive Salary.
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As a start-up or small business, it can be hard to afford the talent you need to grow your team leaving you with gaps in your skill set that can set you back. Fortunately, there is an alternative incentive – an employee benefits package – enabling you to attract the talent you need without breaking your budget. Here are 9 employee benefits to consider:
- Health Insurance
One of the biggest benefits any company can offer its employees is health insurance, helping them to cover the cost of their medical bills if they are sick or in an accident. Many Americans live in fear of a trip to the hospital knowing that it can wipe out their entire life savings, leaving them in crippling debt.
- Unlimited holiday
This may seem a little extreme but offering an unlimited holiday allowance is seen as a huge advantage for prospective employees and shows a large degree of trust. Contrary to what you may be thinking companies who offer unlimited holiday as a benefit to their employees have actually found that they take less holiday than if they are rationed.
- A laundry service
If your employees wear a uniform or work very long hours then an inclusive laundry service from a company such as Crown Uniform and Linen Service can help to save them time whilst ensuring they always look their best.
- Flexible working hours
The days of nine to five working are numbered with more and more companies offering their employees flexible hours to allow them to fit their work around their personal life. Whether it be picking the kids up from school or getting a workout in early, flexible hours are seen as a huge benefit and can have a big impact on employee morale.
- Working from home
As with flexible hours, remote working is another popular incentive enabling employees to achieve a better work-life balance, cut down the cost of childcare and feel a sense of freedom. Working from home isn’t just a great benefit for employees but it can save businesses money too.
- Personal development days
For the career-minded, there’s nothing better than being given a paid opportunity to get back to their books, further their studies or progress their careers. A few personal development days a year can help your employees to stay at the top of their game benefiting not only their future but yours as a business too.
- Student loan reimbursements
For recent graduates, student loan reimbursements can help them to escape their student debt. Offering this benefit will definitely ensure that you receive the best graduate talent.
- Fully paid extended leave for new parents
For those looking to start a family the prospect of fully paid extended leave is very appealing giving new parents the chance to spend valuable time with the newest addition to their family.
- Pet-friendly workspaces
Allowing employees to bring their pets to work can not only increase productivity but employee happiness too. Other pet-related benefits include providing pet insurance or allowing employees to work remotely to spend more time with their four-legged friends.