Employees are quitting their jobs in record numbers.
According to data from the Bureau of Labor Statistics (BLS), 3.9 million workers voluntarily clocked out of their office for the last time in October 2018 alone, the most recent month for which data exists.
Since 2010, this number has risen steadily. That year, only 22 million workers left their positions. In 2018, the number skyrocketed to more than 40 million.
Behind the desire to make more money, what do most workers cite as their reason to jump ship? They’re looking for better employee benefits. Since 2010, issues around compensation and benefits packages have risen by more than 26%.
As a business leader looking to retain top talent, what kinds of benefits can you offer your workforce to encourage them to stick around for the long haul? Let’s take a look at 6 of the most popular offerings.
1. Remote Workplace Flexibility
Thanks to internet connectivity, more than 5% of all Americans now work from home. What was once a rare luxury is quickly becoming commonplace.
If your business structure allows, consider creating an option that allows employees to work remotely, even if it’s only a few days out of the week.
If you do, you’ll be joining a growing movement. To date, around two-thirds of organizations allow some form of telework on either a full-time, part-time or ad-hoc basis.
2. Access to Professional Development
In a recent survey examining the top reasons people quit their jobs, researchers found that 58% of them leave because there are no growth opportunities available.
You don’t have to send your entire workforce on an all-expense-paid trip to a conference across the country. Yet, it pays to listen to their learning needs and meet them where possible.
From textbooks to college tuition, there is a wide range of professional development options. Keeping your budget and project timelines in mind, seek to provide as many resources as possible to ensure your employees stay motivated and excited about honing their craft.
3. Fitness Perks
A healthy workforce is a strong and successful workforce. That’s why a gym membership is one of the best employee benefits you can offer.
Breaking a sweat can help your workers stay fit and build stamina. In addition, physical activity also improves their mental clarity and emotional well-being.
If there isn’t a gym nearby, consider gifting your team members with FitBits, pedometers, or a similar device to help them reach their fitness goals.
4. Healthy Workplace Snacks
This might be one of the most cost-effective yet coveted benefits you can provide your employees!
Instead of stocking the work kitchen with a vending machine full of sugary snacks, why not fill it with a healthy alternative, instead? While there is a vending niche that caters to a more health-conscious crowd, you can simply set out a fruit and nut platter to start.
Offer these nibblers at no cost or a low cost to your employees and you could notice an uptick in their energy and performance throughout the day.
5. Financial Planning Assistance
Studies show that 75% of Americans don’t have their financial future set in place. As an employee benefits provider, you can help change this equation.
Make it your mission to offer plenty of financial assistance services, bringing in outside consultants as required. Some of the most important items to cover include:
- Debt reduction
- Saving for current and future needs
- Asset management
- How to purchase a home
- How to finance a child’s education
- Preparing for retirement
You can offer the services online, in a group setting or via a one-on-one conversation.
6. Sabbatical Leave
Sometimes, an employee might want to take an extended time off from work to pursue personal goals. While few employers across the country allow these sabbaticals, they aren’t obsolete.
These 19 companies support them, in addition to Facebook. The social media giant offers a “Recharge” program allowing employees to take 30 days off every five years.
Prioritize These Employee Benefits
Not all organizations can afford to give every member on their team a massive raise at the end of the year. Thankfully, there are plenty of other ways you can show you care.
These 6 employee benefits are small investments into the future of your company, and well worth every penny. With a shifty workforce at play, it’s critical to do all that you can to keep great talent within your walls.
Need help navigating your employee benefits program? That’s why we’re here.
We’re an independent insurance agency with a presence throughout Oregon and Southwest Washington. Contact us today to learn more about the services we provide and let’s take this next step together.