What Benefits can Companies Offer their Workers to Attract Talent?
There may be several reasons that lead a company to offer social benefits to its employees and not to only focus on sending the pay slip at the end of every month.
Some benefits are established by law (BPJS or Paid leaves), others are offered because they are common practices in certain industries or positions (allowances), others are requested by the employees themselves, and the less usual ones which are offered by the company to attract and retain talent, or by raising awareness about the company’s social responsibility.
Whatever the reason for offering these benefits is, the result is the same. All of them have a direct effect on the well-being and motivation of employees, and this leads the company to reduce its turnover rates, reduce absenteeism, attract better talent and become more profitable.
What benefits are the most valued by employees?
Currently, in most companies, we find that different generations coexist and each of them has different motivations.
For example, the Babyboomers value more health-related benefits; Generation X is more focused on work-life balance; while Millennials focus on career development and work life-balance.
Below are some of the benefits that companies can offer as part of the “emotional” salary.
- Health insurance
It is a benefit that most companies offer, and increasingly requested by employees when they are negotiating the working conditions.
- Work life balance
The objective of this policy is to offer employees the possibility to reconcile their personal and professional life. This will give us more motivated and committed employees in the company and at the same time more profitable employees.
Types of conciliation that can be offered: flexible working; telecommuting, and extra vacation days.
The objective of this policy is to facilitate the employee’s accommodation to the office: car rental/motorcycle rental; transportation allowance; company’s car.
- Professional development
To facilitate the professional growth of the employee: general training; language training; specific job training; technologies training.
Social benefits are a great resource to satisfy employees, but they must be managed in an appropriate manner so that they are properly valued by workers.
To conclude, employees feel more valued by the effort that the companies show through social benefits. By offering the employees social benefits that contribute effectively to their happiness is more than often a good motivator and will be reflected in the employees’ performance.