Employee benefits can make you stand out from other employers. If you want to attract and retain the right people, there are five employee benefits you should be offering.

Something that adds value to any employment position is employee benefits. When an employee signs up for a job with you, they expect to receive compensation in addition to their salary.

This is very common nowadays and these employee benefits can often be enough to convince someone to work for you as opposed to a rival.

Imagine if you were given the opportunity to work for two companies that did the same thing. However only one company was offering you free healthcare and a retirement plan.

Unless there’s a hidden behind-the-scenes reason to go with the company offering you no employee benefits, it’s a no-brainer. Accept the free healthcare and retirement plan because they’re added bonuses on top of what you earn.

So to give you some more ideas on how to convince workers to join you, here are five common benefits that you should be offering all employees.

 

In-store discounts and savings

 

If you operate some kind of retail or online store then it’s often very common to give your employees discounts on your products and services.

It could be a percentage off everything they buy from your store, or it could be extra savings and points.

You could even extend these savings to family members of your employees.

 

Retirement options

 

If you want to foster good relationships with your employees, then it’s good to prepare them for a life working for you.

In many cases, this means signing up for a Nationwide Super that your employees can take advantage of.

Your employees want to feel like they have many future opportunities when they join your workforce. A retirement plan is going to go a long way in convincing them to join you.

 

Health insurance options

 

Most employees will receive some kind of group medical insurance plan that their employers have picked out.

However, it’s a good idea to pick out a medical insurance plan that will benefit your employees. Print out or give them access to information that explains the benefits of the health insurance plan, what it covers and so on.

 

Pay raises

 

Your employees want their hard work to be rewarded. So it’s vital that you offer them the chance to raise their pay whenever you perform an employee review.

Pay raises will often convince employees to stay at your company because their loyalty to your brand is being rewarded.

Pay raises don’t need to be very high. Just a couple of percent each year is enough to keep both your employees happy and your business stable.

 

Holiday pay

 

Everyone needs a break from work now so it’s vital that you offer holiday pay to your employees.

How you set up the rules will depend on your personal circumstances, preferences and Government regulations. In many jurisdictions, employees are fully entitled to holiday pay as a legislated right.

You must know the legislation and to what your employees are legally entitled.

Let them enjoy their break and come back refreshed and motivated.