4 Employee Benefits That Will Supercharge Your Recruitment Strategy

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Hiring the right team is one of the most important things a business can do. No matter what your specialism is or what sector you operate in, you’ll need a mix of talent if you want to succeed. While the internet might give you access to jobhunters worldwide, it takes more than a cursory search to attract top talent. 

By offering employee benefits as part of a remuneration package, you can enhance your reputation as an employee and elevate your workforce. With this in mind, take a look at these four employee benefits that will supercharge your recruitment strategy:

1. Health Insurance

The cost of medical treatment is a major concern for most Americans, which is why employee health insurance is such a popular perk. By searching for cost-effective group health insurance quotes online, you can find employee packages that provide a great level of care for you and your staff. When you use a health insurance marketplace to find your group insurance solutions, you can be confident that you’re getting competitive quotes, at the best rates. With the potential to cut your costs and help you to attain and retain top talent, incorporating health insurance into your employee benefits is a great way to engage new team members. 

2. Commuter Benefits

If your employees work on-site or you’re using a hybrid working model, then commuter benefits will set you apart from other employers in your sector. Staff can use pre-tax dollars to fund their commute at a rate of up to $280 per month, which means they keep hold of more of their paycheck at the end of the month. 

From public transportation and parking charges to ridesharing and the cost of a bicycle, there are a variety of ways that commuter benefits can be used to reduce the cost of getting to and from work, but it isn’t just employees who benefit. As a company, you can reduce your payroll when you make commuter benefits part of your standard remuneration packages and minimize your tax liabilities accordingly. 

3. 401(k)

Professionals actively seek out roles that come with a generous employer-sponsored 401(k), so make this a priority if you want to work with the best in your business. When you offer matched contributions, for example, you’ll find that it’s significantly easier to attract and retain the employees of your choice. With matched contributions typically viewed as a ‘write-off’ for tax purposes, a 401(k) is another way that you can use employee benefits to reduce the company’s tax burden too. 

4. Extra Vacation Time

In most industries, professionals get a relatively small amount of paid vacation time throughout the year but increasing the number of days your staff can take off is a great way to incentivize the workforce. Some employers increase vacation time incrementally so that the longest-serving members of your team are rewarded accordingly. 

Alternatively, you might choose to reward staff members with increased vacation time when they hit predefined targets or goals. Whichever model you choose, you can be sure that extra paid vacation time is an employee benefit that’s hard to ignore!

Creating Your Employee Benefits Package

There are many ways to enhance remuneration agreements with employee benefits but finding the right options for your business is important. By considering the practical and financial implications of specific benefits, as well as their potential impact on recruitment rates, staff morale, and employee retention, you can create a bespoke package that benefits both your business and your team. 

 

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