Employee Benefits

Different Types of Low-Cost Employee Benefits

With the year 2017 riding down the sunset, the HR executives and the senior leadership once again find themselves brainstorming over the ‘what if’. Policies are being reviewed and key metrics are being analyzed. Those present, their opinions are being sought.

One of the pressing agendas for this year-end-meeting is how to attract new talent. December graduates already await the interview call. Soon, the month of March would be here.

Of course, your reputation as a company and the salary that you offer to these new graduates would play a huge role in attracting them, but so would the perks and benefits that you will offer.

According to a Glassdoor survey, 57% of people report that perks and benefits are among their top considerations when evaluating a job offer from a potential employer.

Many business owners believe that an employee benefits program is only meant for large organizations. However, that’s not true. You don’t necessarily have to break the bank to offer attractive incentives to employees.

Below, we have listed some low-cost-to-employer employee benefits that you can include as part of your benefits program.

Flexible Hours

Any job that offers flexible hours is seen as an attractive proposition for potential employees. Some even prioritize flexible hours over pay scale. The accounted preference is linked to work-life balance that flexible hours have to offer. Furthermore, it also allows employees to seek for alternative sources of income in parallel, something which is becoming more of a necessity in consideration of increasing living expenses.

Work from Home

Work from home is another benefit that employees tend to value greatly. In a survey, 80% of respondents said they would give strong consideration to a job that offers them the convenience to work from home. The perk also benefits employers as well – it helps them to reduce business overhead costs by saving on utility bills and office space rent.

Unlimited Vacations

Vacations are often thought as counter-productive, and as such the suggestion of offering unlimited vacations to employees may simply get discarded. However, there is method to this madness.

Employees are notoriously bad at utilizing their vacations and leave plenty on the table in terms of unused vacation time. This creates a liability for employers as year-end pay off. Unlimited vacations can help provide an offset against such expenses. As far as the worries are concerned regarding decreased productivity on the account of more vacation time, findings suggest the opposite.

The benefits listed above are easy to implement for companies of all sizes, and along with serving as ways to attract potential employees, they also offer cost saving benefits to employers. As such, they should be among the top considerations for organizations looking to revise or start an employee benefits program.

About JS Benefits Group

The JS Benefits Group specializes in employee benefits insurance and HR Consulting Services, having successfully served companies across different industry verticals, throughout Mid-Atlantic. Together with its strategic partnerships with nation’s top carriers, the company not only provides consultation services but also helps companies execute the designed employee benefits plans successfully. For more details call at 877-355-6070 or drop an email at info@jsbenefitsgroup.com.

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